Any accustomed business owner can tell you that choosing the right credit card reader can be a challenging task. Settling on the kinds of payment, the equipment, the software you need, as well as the point of sale terminal are critical decisions that you’ll have to make to ensure the exponential growth of your business carefully. This post debunks myths about credit card readers to avoid getting confused when choosing the type to use in your business:
If you spend lots of money to buy a credit card reader, you won’t have to buy another one in the future
This is a completely false myth. Technology is growing at the speed of light. That means a piece of technology that is making waves today will not do so in the next 2 years or so. And this applies to credit card reader technology. So, while you should choose a credit card reader that comes with the latest technological features, know that even more cutting-edge credit card readers will come up in the future and you’ll need to upgrade to stay competitive.
If you purchase a credit card reader from a reputable company and purchase the new, innovative point of sale terminal, you won’t get to worry about data breach
This is not true. While buying credit card reader and point of sale terminal from a reputable company is a bright investment decision, your business will not be 100% safe from data breach. And since these days many clients still utilize magnetic stripe cards, you’ll have to invest in extra security to secure their data. While people say that EMV terminals are totally safe, they won’t fully safeguard your client data.
Once you fully install your credit card reader, it will work flawlessly until the end of time
It’s entirely true that a reliable credit card reader should work flawlessly for the longest time. But like any other piece of software, you’ll have to apply frequent updates to ensure it works smoothly. Choose to do such updates when the business is closed, such as during the night. But the most important thing is to install the required initially updates to ensure the security and efficiency of your credit card reader.
A credit card reader won’t help you scale your business
This isn’t true. There are many ways a credit card reader can help you scale your business. For instance, most customers don’t like to walk around with cash these days, so they prefer paying with credit cards. Meaning if you accept credit cards, you’ll attract a huge variety of customers to your business. You’ll also be able to obtain valuable customer information to use in your marketing campaigns.
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