Practical and Helpful Tips: Merchants

Best Choice: Top Credit Card Readers for 2016

Where and when do we use a credit card reader? From the phrase itself, a credit card reader is a device that reads input data in a credit card or debit card often used for banking, purchasing and other business transactions. Almost all credit card reader now come handy for convenience and accessibility. Having the capability to accept credit cards anytime anywhere is now becoming a necessity especially for frequent shoppers, business owners and entrepreneurs.

In our modern age, credit or debit card readers are devices which are powered electronically to read plastic cards embedded with either a magnetic strip, computer chip, bar code or any other storage medium. Credit cards or debit cards are considered magnetic stripe cards which are often read by magnetic card readers. Magnetic oxide tape that is laminated on a card is the technology behind these magnetic stripes used for credit and debit cards. The magnetic stripe technology is widespread and acquired easily, but is susceptible though to card wear, misreads and corruption of data, making it more susceptible to skimming when external devices are placed over the reader intercepting data reading. Bank card hand-held smart card readers used in business establishments are issued by banks used for supporting various electronic payment applications, authenticating online transactions, verification of the amount of money stored and other details for the last transactions.

In the modern age, smart phone users can now convert their smart phones into credit card readers. When using a smart phone, the credit card reader is just plugged into the phone and then the application or app gets activated. If you are receiving a payment, all you have to do is punch the amount of the purchased item, swipe in the customer’s credit card through the credit card reader, and get their signature authorizing the payment. It is important to know that proper verification and book-keeping still apply because email notification is sent to buyers, however there are higher transaction fee charges for this kind of credit card readers. One of the top brands for credit card readers offers an attractive flat rate for the transaction fees every month, although much costly than others, quicker payments show next day and it provides email notifications every time a customer deposits payments in your bank account. This free smart phone card reader help you develop loyalty programs for your customers and it allows you to customize like having your business logo or name printed on extended receipts. If you want a mobile payment service that allows immediate deposit of payment funds and use check payments, another leader in this industry provides it just for you. Other brands of smart phone card readers have PIN and Bluetooth authentication feature for added security.