Today, the selection of card machines has expanded significantly, offering businesses more choices compared to just a few years ago. In the past, businesses were limited to bulky chip and PIN machines stationed at a counter. However, small businesses now have the option to utilize mobile card readers, which are equally effective.
In this article, there are mobile card readers available that can be used with or without an app. These readers offer the advantage of no-contract commitments, affordability, and simplified fee structures, making it easier for new or small businesses to start accepting card payments. They typically have no monthly fees and instead charge a fixed rate per transaction after the card machine is purchased.
Card payment machines for small businesses:
| Company | Card machine* | Costs |
| Sumup | £39–£139 (purchase) | No monthly fee No lock-in Transaction fee 1.69% |
| Square | £19–£149 (purchase) | No monthly fee No lock-in Transaction fee 1.75% |
| Izettle | £29–£199 (purchase) | No monthly fee No lock-in Transaction fee 1.75% |
| Lopay | £59-£299 (purchase) | No monthly fee Transaction fee 0.79%** |
| Grafterr | £42.00 (purchase) | No monthly fee No lock-in Transaction fee 1.49% |
| Mypos | £39–£229 (purchase) | No monthly fee No lock-in 1.1%-2.85% + 7p transaction fees |
Why card readers are important?
Card readers play a crucial role in the success of small businesses, offering a range of benefits that contribute to their growth and profitability. Firstly, card readers provide small businesses with the ability to accept electronic payments, including credit and debit cards, enhancing convenience for customers and expanding their customer base. In today’s digital age, many consumers prefer using cards for transactions, and by accommodating this preference, small businesses can attract more customers and increase sales.
Moreover, card readers enable small businesses to offer a seamless and professional payment experience. They eliminate the need for manual calculations, handwritten receipts, and the risk of human errors associated with cash transactions. This not only saves time but also enhances accuracy, ensuring that payments are processed correctly. By providing a reliable and efficient payment process, small businesses can improve customer satisfaction and build trust, leading to repeat business and positive word-of-mouth recommendations.
In addition, card readers facilitate better financial management for small businesses. They provide automated transaction records, making it easier to track sales and generate accurate financial reports. This simplifies accounting processes, reducing the time and effort required for reconciling transactions and managing cash flow. With comprehensive transaction data readily available, small businesses can gain valuable insights into customer behavior, identify popular products or services, and make informed business decisions to optimize their operations.
Card readers also enhance the security of payment transactions for small businesses. By utilizing secure encryption technology and adhering to industry standards, card readers protect sensitive customer information, reducing the risk of fraudulent activities and unauthorized access. This instills confidence in customers, assuring them that their personal and financial data is being handled securely. The peace of mind that comes with secure transactions further strengthens the reputation of small businesses and fosters trust among their customer base.
Furthermore, card readers enable small businesses to adapt to changing consumer preferences and market trends. As the use of cash continues to decline, embracing electronic payment methods becomes essential for staying competitive. By offering card payment options, small businesses can cater to a broader range of customers and align with evolving consumer behaviors. This flexibility in payment options positions small businesses as modern and customer-oriented, helping them differentiate themselves in the market.
What’s the best card machine? Questions answered
Any of these card machines can be considered ‘best’ for some businesses, so it’s important to consider your priorities. Don’t want to spend hours of trying to find the best fit?
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