Cashless payment methods have changed the way we trade. Many small businesses succeeded in scaling their companies thanks to innovative technologies, like a wireless credit-card machine, which enabled them to accept payments out of their stores. Not only are buyers more likely to spend when using plastic, but they are also ready to give up on a purchase if their preferred method of paying is unavailable. For that reason, providing your clients with more options to pay is of essential importance to boost your sales.
From the moment cashless transactions started to take over, the topic of credit cards vs cash hasn’t died down. While some advocate for cash as the most secure way of getting money, most have accepted the innovative trend of cashless transactions.
But still, there are many pros and cons of using both. Although new technologies have taken over, remember that, for businesses, maintaining your merchant account is not free. However, cash makes up only 19% of all transactions in America, and 80% of cash is used to pay for items costing less than $25. In other words – it simply doesn’t pay off to accept just cash.
Enable a Wireless Credit-Card Terminal to Make Your Business Closer to Customers
For 67% of Americans, plastic is the most preferred paying option, and 51% of people in the US have at least two different credit cards. Cashless payments are prevailing, and it is estimated that the volume of cashless transactions will grow from $1.75 trillion in 2019 to $1.82 trillion by 2024.
The reason for this is not only the fast evolution of technologies that strive to make transactions and processing easier and lower processing fees but also for customers, who want every transaction to be as quick as possible. Furthermore, the integration of POS systems (hardware and software) enables merchants to run loyalty programs, which are especially stimulating for customers. So, if you want to boost your sales, following the customers’ preferences and keeping up with technology is the only certain way to reach your goal.
Integration of Cards and Digital Payments Is Your Chance to Grow
It looks like the cashless transactions landscape is ever-evolving. With the latest integrations of cards and digital payment options like mobile wallets, ApplePay, PayPal, and Stripe, the number of cashless transactions has significantly increased.
Like the latest McKinsey research finds, as many as three-quarters of Americans use some kind of digital payment, including e-commerce payment options, in-store checkouts with mobile phones, or scanning QR codes. Since wireless credit-card machines provide the integration to these alternative paying methods, they are a great way to support your successful small businesses and grow your company faster.
What Are Types of Wireless Credit Card Terminals and How Do They Work?
The times when terminals had to be connected to hardwired phone lines have passed a long time ago. Thanks to the latest Chip and PIN contactless technology, the POS does not have to sit exclusively in one place. This provides businesses with higher flexibility to charge customers, grow their revenue, and for some, it helps them increase the quality of their service. Just imagine how a delivery business would function without portable terminals.
Although a WI-Fi connection is the most common way of connecting all parties to the transaction processing procedure, there are a few more options that will make your business even more flexible. Here is how different portable terminal solutions perfectly suit the industry you’re in and help you grow your revenue.
GPRS Credit Card Machines Are Perfect Solutions for Businesses on the Move
GPRS (General Packet Radio Service) enables wireless data transmission using the signal from a mobile phone. This means that this type of device can be used wherever a mobile signal is available, providing a wide range of geographical coverage.
GPRS devices are just perfect for all businesses that are not strictly tied to working spaces, e.g. service providers. Movers, taxi drivers, plumbers, electricians, and many others are perfect candidates for GPRS devices, as they will enable customers to pay immediately for the services provided instead of issuing invoices and waiting for the money to be deposited.
This way, you’ll reduce the risk of not getting paid for your services. Moreover, once you put this information on your website, it is more likely more customers will decide to use your services since you provide their preferred paying method.
Portable or Bluetooth Machines Are Great for Hospitality Businesses
Lightweight, easy to use, and with long battery life, the portable terminal is the perfect solution for all businesses that operate within the hospitality industry. Restaurants, pubs, and cafes usually choose devices connected to the internet with the help of Bluetooth, which enables immediate data transmission and the possibility to be carried all over the place.
For that reason, portables are the best option for all businesses that are strictly tied to one address but need this kind of flexibility. In many ways, portables have improved the quality of service in the hospitality industry, since clients are no longer required to go to the centralized POS place at the bar, but they can do it while sitting at their table.
Another perk that comes with portable devices is that they are PCI compliant, and they have an in-built printer that allows you to give the receipt right away. Also, when it comes to products Merchant Chimp provides, you can be sure that all portable terminals are designed to process debit & credit cards, checks, and they can even integrate with mobile wallets like Apple or Samsung Pay.
A Wireless Credit Card Machine Is Still the Fastest Terminal to Support Digital Wallets
The Wi-Fi credit card terminal provides instant transactions using both credit and debit cards, which makes them the fastest devices in the industry. They provide all types of contactless transactions possible, including mobile wallets and tap-and-pay, which is their greatest convenience. These devices usually come with a 4G wi-fi connection, built-in chip card reader, printer, and pin pad.
What Is the Difference Between Bluetooth and Wi-Fi Technology When It Comes to Wireless Credit-Card Processing?
Since both Bluetooth and wi-fi enable wireless terminal credit-card processing, the logical next question is related to the difference between these two technologies.
At the moment, Bluetooth technology is a game-changer when it comes to paying since it is supported by all mobile wallets. This way, a merchant can work with a large number of customers without any risk that the system won’t be able to support it.
However, keep in mind that Bluetooth is paired only with a single base station and up to seven terminals only. On the other hand, using wi-fi lets merchants connect a few stations and a limitless number of terminals. For that reason, wi-fi is especially convenient for larger areas like airports, hotels, shopping malls, or anything similar.
To conclude, both Bluetooth and wi-fi terminals provide quite similar options. The point is to choose what best suits your business needs in terms of the number of terminals needed to manage transactions seamlessly since different types of businesses require different equipment.
Almost a Quarter of Small Businesses Don’t Accept Plastic – Merchant Chimp Can Help You Change This
Believe it or not, almost a quarter of all small companies do not accept plastic as a form of payment. The reasons for this negative trend are different. While some owners don’t know how to initiate the whole process and find a reliable credit card processing company, others find it too expensive due to high credit card transaction fees.
Using Merchant Chimp’s credit card processing services, both problems will be solved in your favor. Not only do we provide all our customers with transparent processing fees, but we also offer full support and guidance through the whole process. This way, all our clients will be in full control of their costs, and you won’t be paying unnecessary fees.
Don’t Know How to Enable Digital Payments on Your Device?
Digital payments will be the prevailing paying method in the next few years. So if you want to be more competitive in your industry and avoid crucial mistakes business owners make when it comes to users’ expectations, following this advice is a must.
All our products are designed with a purpose – to enable all the methods of payments your customers need. Whether they want to pay using Visa, MasterCard, American Express, Google, or ApplePay, by swiping or tapping, our system can meet this requirement. Choosing one of our state-of-the-art terminals is the best way to take advantage of them.
E-Commerce Payment Integration Is Also Something You Can Count On
If you’re in an industry that finds e-commerce important for boosting your revenue, then going for some of our e-commerce options is definitely the right move. We will provide you with a credit card virtual terminal to process card-not-present transactions and the right payment gateways to set up your online shop, help you apply for a merchant account – which is free, and finally, enable your customers to pay from the comfort of their homes.
Contact Us and Get a Free Quote on the Products You Need
There are multiple options available to help you run your company successfully and increase your revenue. And the more options you provide to your customers, the better the chances of closing sales. So keep this in mind when creating a sales strategy, because it will tremendously impact how your company grows. Contact us to explore your options and all merchant services and choose the best way of accepting money transfers to your bank account.
