A Complete Guide To Best Credit Card Machines and Terminals
India is quickly marching towards digitisation and, in the past few years, has come a long way from cash payments to online payments. There was a time when cash was a central mode of payment in India. But, after the instigation of digital payment options, people have moved from paying cash to paying digitally.
Nowadays, customers don’t like to hear “We don’t accept cards” when they go for purchasing something. So, if you own a business, then surely install an online payment method for your customer’s convenience.
Choosing the right credit card machine can be an intimidating task. Obviously, when you have to put in money, you always worry about the return on investment. No matter how big or small your business is, the right POS system will take you on a long path and aid your business to develop.
What is a Credit Card Terminal?
Credit card terminals are digital handheld devices utilised by businesses to accept debit or credit payments digitally at the time of sale. There are generally three main types of credit card terminals involving mobile, countertop, and portable.
As more and more customers are paying with debit or credit cards, many clients expect the choice to pay with a card wherever they go. In simple terms, credit card terminals have made payments faster, easier, and safer.
Difference Between a Credit Card Terminal and a Credit Card Reader
A credit card reader is a device that can convert the encrypted data on a credit card into data that your Point of Sale system can utilise to process a payment.
Almost all credit card readers can read the data on magnetic stripe cards. And today, some readers can accept contactless payments through NFC technology, enabling a consumer to touch their mobile phone to the reader simply.
A credit card terminal is a type of reader that involves a digital display and a PIN pad. It generally doesn’t include their own POS system but instead connects to a different approach using wireless technology or cable. Terminals are best suited for physical stores, especially those that have many consumer registers.
Mobile readers are credit card machines that sync with tablets or smartphones to allow payments from anywhere you take the reader. Mobile credit card machines for small businesses are excellent to handle online fees such as retailers, food trucks, etc.
Different Types of Credit Card Machines
Credit card machines are commonly thought of as the new hardware devices you see in stores. Still, credit card machines can be software or hardware payment terminals, and they can also be in other forms like mobile payments.
- Hardware Payment Terminals
Hardware payment terminals are the physical devices you generally in offices and stores. These payment terminals enable communication between the banks and the credit card, verifying security status and the credit card’s balance. All this communication happens in few seconds using your payment processor.
- Virtual Terminals
A virtual terminal is software that converts your computer into a credit card terminal and enables you to manually enter credit card information and submit it to accept payment. This would help you to avoid the additional expense of a countertop terminal.
- Mobile Credit Card Reader
Smartphones have become powerful nowadays. For more casual payment procedures, you can convert your mobile phone into a credit card machine to accept online payments. These are lightweight, simple, and reuse existing hardware.
Functionalities of Credit Card Machines
There are three primary functionalities of the standard Credit Card Machines; let us go through the same.
- Connectivity
The connectivity will be the biggest factor assisting in differentiating credit card machines. These devices can connect via a Wi-Fi network, a wired internet connection, or a cellular network like in a mobile phone. The way you want to interact with your clients with your checkout understanding decides the connectivity you want.
- Integrating Credit Card Machines into Existing Software
Certain businesses have their own POS system software platform. When you want to integrate a payment service into the software, you need to make sure that the credit card machine supports the integration.
- Receipts
Almost all credit card machines have an in-built printer. The latest option you might want is the email receipts. Over time, most of the payment terminals will support email receipts although, only a handful of devices do it now.
Having all the above functionality is the necessity of the Credit Card Machines to serve the user’s requirements.
Top Credit Card Machines and Terminals in India
Installing a digital payment mode in your store can assist it to grow manifolds. Consumers prefer to visit your store again repeatedly, knowing they can pay faster using their digital cards. It helps you in managing faster checkouts than ever. Additionally, it aids our country to go digitised.
Some of the most popular credit card machines and terminals are mentioned below: –
- SBI POS Terminals
SBI provides various POS terminal choices, each having its own features, purpose, and uniqueness. You can choose from options like mPOS, desktop GPRS, NFC enabled, etc. The SBI POS terminals are super secure and safeguard you from theft. It works smoothly for traders, hence, progressing their sales and growing their profits and productivity.
State Bank of India is one of the oldest and most trusted banks of India and is understood for its best services. If you’ve got any queries, you’ll contact the support team 24/7. There are not any hidden service costs and no ‘minimum balance’ restrictions.
- mSwipe Solutions
Setup mSwipe solution for accepting all types of payments, including credit and debit cards, VISA, RuPay, Mastercard, and American Express. This wireless credit card machine service is a reasonable and effective solution approved by MasterCard mPOS with a certification from VISA Ready.
It’s considered to be the best secure payment gateway option and exceeds the industry’s standard. The wipe users don’t get to open a separate checking account because the funds are transferred to your account directly via NEFT. Save paper and send the transaction receipts directly on your consumer’s mobile phone.
- Paytm POS
Paytm is one of the leading online credit card machines for small businesses in India, known for its numerous amazing services. You can book tickets, make recharges, pay bills, send money, and far more through Paytm. Now, this leading platform has launched Paytm POS for its customers’ convenience.
Simply open the Paytm app, then click on Accept Payment, then select the Accept Payment from Debit or Credit option. Once selected, you’ll get to enter the transaction amount and the customer’s mobile number. The customer will then receive a Paytm link which the customer has got to use to pay through a Debit/Credit card or net banking method.
There are not any additional costs for using Paytm POS, and you get to no other hardware.
- Ezee Pay Services
Ezee pay services are one of the foremost secure, reliable, and fastest electronic credit card machines. It provides a real-time payment transfer option, and you can transfer the amount just by entering the receiver’s number and amount anytime, anywhere.
Ezee pay offers multiple payment options, and you can purchase tickets, recharge your phones, pay bills, and whatnot. This online payment solution takes care of your all transactions, so you don’t need to carry around and pay in cash everywhere.
- Ezetap
Ezetap is one of the leading online payment solutions for small, medium, and enormous businesses. You don’t need separate hardware like a card swiping machine, as you’ll turn your smartphone into one. Ezetap transforms your smartphone into a wireless credit card machine.
Ezetap also ventures into hardware solutions. The hardware is sturdy, compact, and suitable for companies requiring fieldwork. With Ezetap, you’ll transform your business’ working operations and supply better customer services too.
- HDFC Merchant Services
With HDFC Electronic Data Capture device (EDC), you can improve your customer services by offering electronic credit card terminals using HDFC’s merchant services. The utilisation of mPOS has proven to extend the productivity and profits of a business.
The payment is fast, secure via encryption, and reliable. You can download the app, register together with your basic information, and once your account gets verified, you’ll start accepting payments. HDFC merchant services provide a unique experience for you and your consumers.
- mPOS by ICICI Merchant Services
Facilitating electronic payments has gotten much simpler now with ICICI merchant services. Use the newest and advanced e-payment solution using mPOS that works wirelessly. You don’t even get to invest tons of cash and time within the ICICI merchant services.
The electronic transactions made via ICICI merchant services are safe and secure as they’re encrypted, and no data is stored on the mPOS device or your smartphone. You can keep track of reports and every one of the transactions you administered from the records.
Conclusion
Our country is quickly moving towards digitisation, and now tiny, medium businesses are also facilitating digital payments as the fastest and safest way to accept payments. Consumers also prefer paying via their cards instead of cash.
Whether your business is big or small, a traditional retailer or a moving food truck, you need to accept consumer payments at their convenience. If you are a trader, then this is the best time to equip yourself with the best credit card machine in India.
However, please consider all the details mentioned to choose and instal the right credit card machine for your business. Stay tuned for more updates.
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