One of the least preferred modes of payment is cash, which is only used by 19% of consumers. Since people are increasingly using card payments and contactless payment solutions for transactions, every business owner should have a card machine. The newest addition such as the portable card machine has boosted the popularity of card machines.
It is not surprising that the world of card machines has grown with the proliferation of card machines on the market and technological advancements. Businesses can accept card payments using a variety of card machines on the market today, each specifically designed to satisfy the payment acceptance needs of a wide range of businesses.
In some cases, the device can be wireless and portable, while in others, it may be integral to a larger system connected via cables. POS (point-of-sale) systems that integrate with traditional countertop machines, Virtual card readers, mobile card machines, and portable card machines are some of the most widely used categories of card machines
Portable card machines as its name suggests are designed to move from one place to another are compact and convenient for use in shops and market stalls of all sizes, and they can be used anywhere. In the following article, we will discuss portable card machines in more detail.
Why choose portable card machines?
In the current era, many electronic devices connect via Bluetooth or Wi-Fi, including portable card machines. At your store, a Wi-Fi reader transmits signals from the portable card machine to your wireless gateway/router before connecting to your landline and going online. When you use your phone or tablet to connect to the internet, the information is transmitted to a cellular base station and then to the internet via a mobile network connection.
Despite some of these devices communicating wirelessly, they still require power from an electrical outlet. There are, however, some devices that use rechargeable batteries. Although the portable card machines require charging, they offer a merchant a great deal of flexibility, as they can be moved around at will, either to different stations or off-premises (such as trade shows). Apart from being portable and flexible, portable card machines have many more benefits. Some of them are listed below.
- Keeping customers satisfied
A business’s success depends on ensuring its customers are satisfied. Cashless payment options are expected and demanded by customers nowadays, even by small-scale businesses that used to rely heavily on cash. With portable card readers, your business can provide a service that customers demand, which positions you as a forward-thinking, modern business that cares about its customers.
- Accounting at ease
Portable card machines can reduce the paperwork burden associated with business accounts rather than adding to them. In addition, most portable card readers come with a comprehensive suite of reporting tools that are useful for monitoring your business’ performance and analytics.
- Payments are fast and convenient
Payments can be made quickly and conveniently in just a few seconds, benefiting both the business and the customer. The convenience is also accompanied by an extra level of security that has become increasingly important in recent years. With a portable card machine, you can offer your customers the convenience of contactless payment.
- Easy to set up and use
People of all technological backgrounds can quickly master the workings of the portable card machine, and the setup is simple enough that most people can get it up and running in no time.
- Durability
As a recent addition, portable card machines are built for long-term use. The rigors of the workplace can be handled by portable card readers, regardless of whether they are exposed to oil and fat in a burger van or dust and knocks in a construction van.
- Increasing the spending tendency of customers
In contrast to cash payments, customers might spend more on transactions if the payment process is simplified and reliance on cash is reduced. In the future, customer spending per transaction is sure to increase as contactless limits rise and more people switch away from cash.
- More Security
Small and mobile businesses have always been vulnerable to carrying their daily takings around. They are at risk of theft and even losing cash as a result. With a portable card machine, these threats are eliminated. It is as good as having the money in your bank account once a payment has been made. Business owners are also protected from fraudulent payments, such as counterfeit currency or bad checks. Even though cybercrime is still possible, most portable card machines come with encryption technology that protects data from hacking and fraud.
Impact of portable card machine for businesses in UK
As of 2021, over half of all UK payments were made with cards. According to a study published in 2022, 60% of UK citizens use card payments to purchase items. The pandemic contributed to this increase, but it is part of a long-term trend in which cash payments have declined and card payments have increased.
As the UK business field is increasingly relying on card payment solutions, growth in the payments market was driven by a surge in contactless card payments and debit card payments during the review period (2017-21).
The number of contactless cards and their usage in the country grew strong during the review period, with most users deeming these card payment solutions useful. Strong growth was also seen in instant payments as both consumers and businesses increasingly used online and mobile banking to make payments and transfer funds.
Technology introduced portable card machines to a society that is desperate to use card payments over cash. In the UK itself almost all the business structures are providing card payment solutions to customers with the help of portable card machines as they are more affordable than traditional card machines and offer a large bundle of benefits.