Three Best Credit Card Readers for Small Businesses

Small businesses that do not accept credit card payments may be losing out on much-needed revenue. For some, the fears of large-scale credit card fraud, fraudulent customer information, and high interest fees are well-grounded. Fortunately, however, there are a number of best credit card readers for small businesses available, which are relatively inexpensive, easy to install, and highly effective. In this article, we will take a look at the top three pros and cons of each style of the device.

  • Some of the most effective small business owners go the “wireless-forgetting” route. By not accepting credit cards, these business owners allow themselves to reap the benefits of wireless technology without the hassles associated with integrating it into their existing systems. These best credit card readers for small business owners typically have an included wireless security system and are designed to work with either cell phones or handheld computers.
  • Wireless credit card readers that do accept debit cards offer the best benefits. However, most of these devices require an additional monthly fee to remain on top of late and lost payments. This fee is typically between two and twelve dollars per month, depending on the amount of information processed through the device. For this reason, it is important to review the terms and conditions of the particular service provider before choosing the one that will be best suited for your needs.
  • Prepaid readers that connect directly to a merchant account usually have a monthly fee. This type of device works like a typical card reader, but it transmits the information wirelessly to the company’s server instead of keeping it in your own computer. The monthly fee covers hardware and software maintenance, as well as the cost of collecting and transmitting the monthly payment from your customer. A wireless network connection is not necessary, as the data can be sent over a phone line if you choose this option.
  • Square Reader devices do not require a merchant account to accept payments. Instead, they work like a typical credit card terminal, which connects to the merchant account on your behalf by making the cardholder’s card available electronically. A flat-rate fee is charged each time a new transaction is made. To make purchases, all that is required is that the card is swiped at a reader that is connected to a merchant terminal.
  • Clinch-style readers are also known as wireless access points or WAPs. Most businesses prefer this kind of credit card reader because it allows the user to make purchases without having to hold or display the plastic card. In other words, the wireless reader eliminates the need to swipe the card itself. Wireless readers can accept both major networks and local wireless carriers. The benefit to using a clover mini type of wireless credit card reader is the small size and ease of use.
  • Many small businesses do not have an existing debit and credit card processor system in place. As a result, these small businesses must either purchase a system or hire someone to provide one. While this can be a very costly endeavor, there is no reason that small business owners cannot take advantage of this technology. There are several systems that you can purchase for less than $100. If you are unable to find a system through your regular vendors or retailers, check with a small business electronics retailer, like STS Products.

The wireless Helcim reader has been around for a few years but is gaining popularity among small businesses thanks to its features and cost. It works similarly to a wireless phone or PDA device in that it records and stores the information on transactions that occur during its use. In addition to the ability to store the information, it also offers the ability to send out email alerts when items change in value. The fact that it works as a PDA also means that you will be able to receive push notifications regarding changes in your balance, sales, and payment history even if you are not at your desk at work. Another big advantage of using a HELCIM reader is that it allows you to track all your transactions from your laptop, desktop computer, or tablet PC whether you are at work or away from home.

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