On the fence about getting a credit card reader? Prefer to just use cash or cheques? These days, you’re alienating a huge section of the population who prefer to pay via card or digital methods, and this can cost you money in the long run. Customers want increased flexibility when it comes to how they make their payments, and introducing flexible payment options is essential to remaining competitive and delivering quality to your business.

But do you know there are many more benefits to a business than just more payment options with the right POS system and credit card machine? Sure, they’re the best way to increase sales, but there’s so much more to it than that. 

Let’s take a look at some of the benefits you might find when integrating this type of technology into your business.

Accurate Record Keeping

These days, when you integrate credit card machines into your business, you can automatically improve your record-keeping, too. Every transaction that goes through the system is logged, meaning you need to interpret fewer scribbled receipts and notes down the line. This delivers greater accuracy and a more reliable overview of your finances. Plus, it can be a lifesaver come tax season during busy periods or when you need to run reports. Instead of guesswork, you have accurate figures tracked and recorded for you.

Secure Payments

Handling cash comes with risks, from human error to theft, and you are increasing risks by accepting only cash payments and holding cash in registers in your business or in lock boxes, for example.

Card readers significantly reduce the risk of cash loss by various methods firstly, because you’ll automatically be holding less cash on the premises.

But secondly, you can offer, an additional layer of security, as sensitive card payment details safe and secure thanks to encrypted software and payment portals. Customers expect a certain level of protection when making transactions, and a payment provider or gateway will have the right protections in place so you can offer this to your customers.

Scalability

One of the major benefits of integrating credit card machines into your business is that they will adapt as your business grows. They’re already in place for where you are right now and will support future developments as you grow and maximize your company. For example, they can handle the addition of new locations and integrate all records and transactions centrally. They can also allow you to add on a mobile POS so you can take payments at pop-up events or go on the road, enabling you to accept payments anywhere you are.

Improved Customer Experience

This is what it all boils down to. Everything you do should be aimed at making the customer experience better, and credit card machines help you do just that. Because, for the customer, speed and convenience matter, and credit card readers deliver this with ease. 

Customers don’t want to wait for lengthy transactions to be completed. They want to tap, pay and get on with their day, and when you offer a seamless transactional process that delivers this, the customer experience will automatically improve, and sales can even increase as you remove barriers that might otherwise have been in their way.