The credit card payment has been the same for over a dozen of years. You simply swipe or tap the card, enter your pin (often even provide a signature) and complete the order. This seems like a very ancient process that can be optimised and simplified. This is exactly what has been happening over the past year. Several technology providers are now offering intuitive credit card payment devices that make use of the latest technology. There are many upsides for business owners to explore. In this article we will dive into them.
Lower start-up costs
Traditional credit card terminals are known to be expensive. They need to be installed by a service engineer and also require regular updates to stay compliant and safe. What if we simply remove all that complexity from that device? Put all the ‘brains’ of the device in a smartphone? This is exactly what has happened. Now you can conduct a credit card payment with a simple device. This device only includes a special sensor to read cards and process the information to a smartphone.
Get started with your smartphone today
You can download a smartphone application that contains all the logic. The regular updates can automatically be processed without any fees. Next to that, you can purchase the credit card payment device at low cost. Once you receive the card reader you can connect it to the application. When you have an account, you can already start to receive payments.
The payment process explained
The shop or restaurant owner can type in the desired payment amount and transfer the outstanding transaction to the device. The customer can then tap his/her card on top of the device and then the transaction is completed. This contactless approach is not only intuitive, it is also contactless and safe. Another reason for shop owners to embrace it. With this method they can offer their shoppers a safe shopping experience in their store(s).
Consider using a QR code as well
A terminal is a more traditional approach, if you ask your fellow technologists. What about a QR code? This can also be supported and allows the shop owner to show a QR code after typing in the transaction details. Once this is arranged, the customer simply scans it with their smartphone and pays via their preferred method. The shop owner receives a notification and the transaction is settled.
Interested to learn more?
There are many credit card machine companies out there. One of the leading technology providers in the segment is SumUp. They provide the card machines and the accompanied software, as well as a broad range of other payment methods which can be put to use by the shop owners with ease. This includes SumUp’s innovative QR code payment and the digital gift cards.