![]() Why different card machines have different transaction costs Again, when you’re researching card readers for your business, it’s worth asking this question of the payment provider you’re talking to. However, some options are better when it comes to scaling with your business. It can be tempting to go for a card reader that fulfils your needs right now. Think about your business growth, not just what things look like right now. If so, a WiFi-enabled, pay-as-you-go card reader like Barclaycard Anywhere, that links to an app on your smart device might be a good way to start out. And if you run market stalls or pop ups, it might be that you want to test taking card payments. If, however, you have a fixed till point, a desktop card reader might be what you need. If this is the case, it makes sense to choose a portable card reader. Work out how you want to take card payments from your customers.įor example, if you run a bar or restaurant, it might be important for you to be able to take the card machine to your customer at their table.If you call Barclaycard Business for a quote (08), the team will take you through a series of questions, which will give you an insight into how much it could cost you to take card payments. This is so you can start to work out what your merchant services fees might be. Have an idea of how much you think you’ll take in card payments each month. And that’s an important tip to bear in mind because it can be easy to go for the first or cheapest option when you want to start accepting card payments. There’s no one-size-fits-all when it comes to picking a card machine for your small business. Choosing the card machine that's right for you Generally speaking, transaction fees are higher with card readers you buy outright, while you might be able to negotiate lower transactions fees if you rent terminals as part of a contract. One of the main differences between buying a card reader outright and renting one as part of the contract is the transaction fees you’ll pay. This can be a great option for small businesses just starting out, that don’t want to commit to monthly card reader rental fees and merchant service fees.įor more established small businesses, entering into a contract with a payment processor and renting card machines as part of that contract might be a better option. With these options, you buy the card reader, you download an app and you pay a fee for every card transaction you take. ![]() The cost of buying a WiFi-enabled card reader outright can vary, from around £20 up to around £60. And it’s great for your business, because you can offer a seamless payment experience for your customers. It’s great for other customers who won’t have to queue for so long. That’s great for the customer paying, who will want the transaction itself to be quick and easy. The more ways there are to pay for your goods and services, the more customers you’ll have access to.īarclaycard research shows that contactless transactions are 15 seconds faster than cash. After all, if a customer gets great service, finds the product they want at a price they’re happy with, and can then pay for it quickly, they’re more likely to shop with you again than someone who hasn’t had a good experience.īy accepting a range of payment methods, you’re allowing customers with different payment preferences to shop with you. Giving customers what they want, when they want it is one of the easiest ways to encourage loyalty and repeat purchasing. Without a card machine, you may miss out on that sale and more importantly, that customer might not come back again. If a customer comes in with a card but no cash, you want to be able to sell to them by accepting a card or digital wallet payment. Using card machines, also known as card readers, could potentially lead to: In turn, this can mean increased sales and customer loyalty when you combine a range of payment options with other elements of a great shopping experience, like customer service. Where to go now you’re up to speed on card machines… Some of the benefits of card machines for small businessesĬard machines allow businesses to take card payments from customers, meaning shoppers can pay the way they want to. Information on why different card machines have different transaction fees Tips on how to pick the best card machine for your small business ![]() How much it could cost to buy or hire a card machines Some of the benefits of card machines for small businesses It might once have been seen as a luxury, but being able to take card payments is now an essential part of giving consumers the shopping experience they want.Īs with a lot of things these days, the amount of information available, as well the choice of products and solutions, can be overwhelming.
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