More than half of transactions in the UK are performed with cards, and this number is rising year over year. Therefore, you are missing out if your company does not have a contactless credit card reader. 68% of the UK population now owns credit cards and 98% debit cards, making it more critical than ever to keep up with developments in consumer purchasing and arrange card payments.
Businesses are rapidly realising the benefits of integrating a card machine into daily operations. A card machine helps businesses speed up their operations and maintain a secure and reliable payment system while offering more convenience to clients. In this article you will find the main benefits of buying a card machine for business.
The Benefits of a Card Machine to Maximize Your Payments
Enhanced safety and security
Card readers use advanced security measures to protect financial data. They are built to authenticate payments and encrypt transactions, making it considerably simpler to stop fraud. And when making a card payment, customers and businesses benefit from a higher level of security and protection.
Faster payments
No one wants to stand in a queue for hours while others struggle to manage their money. Card readers speed up the process, so you can serve more clients and streamline payments even during busy times. Also, having a card machine enables businesses to process payments faster.
High income
By offering a variety of payment methods, you can increase the number of customers who don’t carry cash. With the ability to accept different types of card payments, businesses can generate additional revenue. According to research, 85% of customer payments in 2017 were impulsive, so allowing card payments will increase your business sales. Also, customers likely to spend more when purchasing with a card instead of cash.
Reduce fraud risk
Since there are fewer cash deposits and less time spent counting change and looking for fake money, there is less chance of human error. By relying on card machine technology, businesses can reduce the risk of fraud and identity theft, protecting both parties in transactions.
Reduce processing fees
Businesses can reduce costs by accepting card payments and reducing overall processing fees. The ability of some card readers to store and process data means that third parties are not charged for the transaction.
Improved customer experience
Card readers improve customer satisfaction while keeping up with the fast-paced modern lifestyle. They make payment for purchases and protect customers from being caught out if they don’t have enough cash.
Improve efficiency
Customers are more likely to trust your business because you openly accept a wide range of modern payment options. Customers are more likely to want to shop with you if they know you offer reliable and secure payment methods. And card machine increases efficiency by enabling customers to pay for products or services quickly and easily. This will help businesses complete sales transactions faster and reduce customer waiting time.
Easier record-keeping
If you have a merchant account for your card readers, you can easily track recorded transactions and use standard online statements. If there are any problems, you can always retrieve and review the transactions.
Insight into business strategy
Monitoring the sales of card readers may give you valuable insight into your customers spending patterns. You can use this information to manage staffing levels for peak sales periods and stock control for your most profitable products.
Advantage over competitors
For businesses to successfully compete with their competitors, they must stay current. Having card readers levels, the playing field and may put you ahead of other businesses that haven’t yet adopted these innovations.
Flexible solutions
Small businesses may be intimidated by card processing costs, but there are many low-cost card machine choices available to meet any business setup and financial needs. Installing and maintaining card readers is more advantageous than the relatively low costs.
The benefits of integrating a card reader into business operations are numerous. By adopting the latest technologies, businesses can ensure that transactions are secure, improve cash flow and save time and money. Businesses would be wise to invest in one of these systems as card machines become more popular in retail settings. But with so many service providers on the UK market, which one should you trust with your business? In comparison to other service providers, UTP offers the best card reader machine for business. All their credit card payment terminals use the most recent security and technology because they are partners with Barclaycard Payment Acceptance, one of the biggest financial organisations in the UK.
If you want to accept credit and debit card payments with a card machine, UTP offers low-cost, fast setup and seamless card payment alternatives that help increase sales while saving money. UTP is faster than any other business in the sector as it fills your accounts on the same day.