Card swiping machines sit at the core of a retail business, not only that they have evolved to become a part of a larger market and are today used by even eCommerce giants to collect digital payments from a customer’s home as part of their ‘Pay on Delivery’ initiatives.
The modes of payments have evolved over the last couple of decades and consumers have moved beyond relying on cash for their day-to-day transactions. Running a business requires one to be at the top of their game by offering consumers exactly the things they are looking for. Therefore, you need to offer consumers alternative modes of payments which is more the norm than the exception these days.
This makes the card swipe machine one of the most important pieces of hardware critical for your business operations since it allows you to easily accept payments for the goods and services, they buy from you. The ATM swipe machine price has become very affordable, so it makes more economic sense since it’s highly likely that everyone has at least one card in their pockets, either credit or debit.
Moreover, customers can buy and pay for things for which they might not have the physical currency in their pockets at that given time, making a card payment the most convenient option. And guess what? It hardly takes 3 seconds for a payment to go through!
Setting up a Card Swiping Machine
Choosing a card swiping machine isn’t rocket science. It’s a relatively simple process if you know how to go about it. Don’t worry, we will help you get a better understanding.
Choosing a Machine
You must choose the right kind of machine for your line of work. You can either buy a new one or add one to your existing POS billing machine system to make it more streamlined. So, think as to what you want out of it. A POS system also allows you to execute third-party integrations for card swipe machines, and different devices come with different card swipe options. Keep in mind that there are a few that charge monthly rentals or transactions fees. Therefore, it’s important that you compare and then choose according to your business case.
Charging and Connection
These days, most POS devices are wireless and can function up to 15 hours on a single charge. However, this varies from device to device. So, if you want to spend less time charging the machine and more time making sales, choose a device that offers the maximum backup on a single charge.
Installing and Linking Merchant Account Details
Once you have chosen a machine, you would then need to install the device and link it to your merchant account to accept payments. It’s a relatively simple process, you need to connect the device to the internet using a WIFI connection or SIM card (in the case of a GPRS device). Once the connection has been established, all you need to do is link the device to your bank account. However, keep in mind that it may take up to 2 working days for your bank and the card machine company to sync and approve your account.
Setting up your Pin
The POS Device asks for a Personal Identification Number for security. Once you have linked the machine to your bank account you will need to set up this secure PIN. It’s a secret code consisting of 4-6 digits that is required every time you set up the machine.
The Machine is Ready for Use
Now the machine is ready to accept payments and you can start swiping customer credit and debit cards to process transactions. Modern devices also allow you to accept payments via QR codes making it an excellent device for accepting the more popular UPI and digital wallet-based payments.
A credit card machine is also sometimes referred to as an EDC machine. The EDC machine’s full form is an electronic data capture machine. And it’s something you need for your business to grow and prosper!