How to Choose the Right Card Machine Provider for Your Business

Whether you run your online business or have a physical store, integrating card payments into your payment options is not optional anymore, it has become a necessity.

A card machine (PDQ machine) is an electronic device that carries out sales transactions for a business. There are many types of card machines like countertop card machines, mobile card machines, or a tablet card machine. Modern card machines nowadays are not reserved for carrying out transactions, they perform other tasks as well that are crucial to business operations.

As more customers have started preferring cashless payments over carrying cash, we have seen a surge in the use of card machines by businesses. As more and more businesses have started making the switch card payments, the number of card machine providers in the market has also increased. It is crucial to choose the right card machine provider suitable for your needs.

To choose the right card machine provider, you first need to decide the type of card machine that your business demands. Consider the following factors before choosing:

•     Nature of your business

Your business type greatly decides the type of PDQ machine you should go for. For example, if your business has both physical and online locations, you need to look for a provider that provides online integration as well as a physical card machine that you can display in your physical store.

•     Flexibility needs

Next up is deciding the extent of flexibility you require. Like, if your business is a retail or fashion store which has a centralised counter to process transactions, a countertop card machine is just right for you. That doesn’t mean that traditional stores can’t go for a mobile card machine. There are no rules to this so if you want to avoid clutter and a big setup you could also go for a mobile card machine that is compact, takes less space, and can be carried easily.

•     Transaction volume

Next up is keeping a record of your transaction volume. Organise your average monthly card transactions to get an idea of the basic trend. What’s the volume of the transactions and the average payment amount/ We’ll use this information later in the post.

Your card machine provider should be able to provide integration with multiple payment methods like Chip&PIN, contactless payments, and mobile wallet payment methods. Moreover, the software and hardware of the card machine should be compatible with your existing POS system.

Look for a card machine provider that offers extensive all-time support to its customers. Whether it's a warranty for the hardware or the repair services. Your card machine provider should also support the first setup and integration of the card machine into your existing POS system, whether it's online or in-person.

Before committing to a card machine provider, make sure to check reviews and testimonials from previous clients. Evaluate the provider’s experience and see if it suits your goals and needs.

The decision to either buy or rent a card machine depends on your specific business targets and needs. We can help you analyse and weigh out both options so you can select the one you deem useful.

Buying a card machine will result in a one-time purchase plus an additional transaction fee with each sale. It is best for businesses that process a major volume of transactions every month. If you are just making the switch to card payments and are not sure about the number of transactions, renting seems like a favorable option where you don’t have to worry about being in a contract for a long time.

Your card machine provider should offer you comprehensive security tools to protect your business and your customers like encryption, fraud detection softwares, tokenisation, two factor authentication, and PCI DSS compliance.

After you have set up your mind to make the switch to card payments, research the market well before buying or renting one for yourself. Keep in mind the nuances, like comptability, integration, pricing stucutres, and security methods etc. ComparedBusiness can help you make this leap for the sake of your business growth.