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Comparing Credit Card Terminals

Selecting the appropriate credit card terminal is crucial if you want to take card payments in your UK business. With so many options available, it's critical to make sure you choose the best option for your needs by comparing features, costs, and compatibility.
Updated 6 Jun, 2024

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Komal Habib

Midweight Copywriter

Best Credit Card Terminal

Devices used to securely process card payments are called credit card terminals, sometimes referred to as credit card machines or point-of-sale (POS) terminals. Countertop terminals, portable terminals, and mobile terminals are among the various varieties available, and each has its special characteristics and capabilities.

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Key factors to consider when choosing a credit card terminal

Type of terminal

Assess the demands of your company to determine whether a countertop, portable, or mobile terminal is most appropriate. When making your choice, take into account elements like connectivity alternatives, space constraints and mobility.

Connectivity

Explore the Ethernet, Wi-Fi, and mobile data connectivity choices available to the terminal. Selecting a terminal with consistent connectivity is essential to guaranteeing smooth transaction processing, particularly during busy business hours.

Compatibility

Verify that your current POS system, payment processor, and merchant account are compatible with the terminal. Check for compatibility with contactless, magnetic stripe, chip and PIN, and other card types to meet the needs of a wide range of customers.

Features and functionality

Examine the features and functionalities of the terminal, including the reporting tools, touchscreens, and the ability to print receipts. To improve your company’s operations, look for extra features like inventory management, consumer analytics and loyalty programme integration.

Fees and pricing

When evaluating expenses, take into account variables including contract terms, processing volume, and potential hidden charges. Compare the fees and pricing structures connected with each terminal, including setup fees, transaction fees, and monthly service fees.

Customer experience and support

Think about how the credit card terminal affects both the degree of service that you as a merchant can receive and the general consumer experience. Select a terminal with an ergonomic design and user-friendly interface to ensure your consumers have a seamless transaction experience.

To improve customer satisfaction, look for features like customisable prompts, multilingual help, and speedy transaction processing. Additionally, evaluate the terminal provider’s or payment processor’s level of customer service in terms of availability and quality.

Select a service provider that provides live chat, email, and phone assistance so that any problems or questions may be handled quickly and efficiently.

Security and compliance

When choosing a credit card terminal, give security and compliance first priority in order to safeguard your company and clients from fraud and data breaches. Seek out terminals with advanced security features like tokenization, encryption, and fraud detection, as well as those that comply with industry standards like the Payment Card Industry Data Security Standard (PCI DSS). To reduce new threats and vulnerabilities, make sure the terminal provider applies security updates and fixes regularly. 

Furthermore, train your employees and yourself on the best ways to handle cardholder data securely, and put strong security measures in place to protect sensitive data.

Scalability and future growth

To meet the expanding demands of your company and its changing needs, take into account the credit card terminal solution’s scalability and adaptability. Select a terminal that will grow with your company so you can add more features or capabilities as your operations do.

To improve your company’s capabilities, look for solutions that include linkages with other software and services, such as loyalty programmes, inventory management platforms, and accounting systems. Examine the terminal provider’s past performance and potential for creativity and flexibility to make sure your investment is still viable in the future and fits in with your long-term goals.

User reviews and recommendations

Utilize consumer reviews and suggestions to learn more about the dependability and functionality of various credit card terminal choices.

Look through social media, review websites, and online forums to read comments and endorsements from other business owners who have used the terminals you are thinking about. When making decisions, keep an eye out for repeating themes and problems that are brought up in reviews.

Additionally, to gain first-hand knowledge and ideas, ask for referrals from colleagues, peers in the business, and professional networks. When selecting a credit card terminal for your UK business, you can make well-informed decisions and steer clear of potential traps by utilizing the combined knowledge of the business community.

Training and onboarding

Make an effort to invest in onboarding and training materials to make sure you and your employees are prepared to operate the selected credit card terminal efficiently. Utilize the tutorials, training videos, and user manuals that the terminal supplier offers to acquaint yourself with the features and capabilities of the device.

Plan interactive training sessions for your employees so they may practice utilizing the terminal in realistic situations and get answers to any queries or worries they might have. Stress the need to use security measures correctly and adhere to them to reduce errors and guarantee regulatory compliance. By allocating resources for thorough training and onboarding, you can enable your staff to optimize the advantages of the credit card terminal and provide outstanding customer service.

By considering these additional factors and insights when comparing credit card terminals for your UK business, you can make an informed decision and select the best solution to meet your needs.

Choose the right card terminal for your business

Once you’ve compared credit card terminals based on these factors, narrow down your options to select the solution that best aligns with your business needs and budget. Consider factors such as reliability, customer support, and scalability to ensure a seamless payment experience for your customers.

OneMoneyWay: Your Business Account Solution

At OneMoneyWay, we understand the importance of efficient payment processing for UK businesses. While we’re not a traditional bank, we offer a comprehensive suite of services, including business accounts, cards, currency conversion, and international payment solutions.

Our platform empowers businesses to manage their finances effectively and streamline payment processes. By comparing credit card terminals and leveraging the solutions offered by OneMoneyWay, you can optimize your payment processing infrastructure and elevate your business operations to new heights.

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FAQs

Can I use OneMoneyWay for my small business?

Yes, OneMoneyWay caters to businesses of all sizes, providing tailored solutions to meet your financial needs, including business accounts and payment processing services.

How can OneMoneyWay help with my business accounts?

OneMoneyWay offers a range of services, including business accounts, cards, currency conversion, and international payment solutions, to streamline your financial operations and drive growth.

Is OneMoneyWay a bank?

No, OneMoneyWay is not a bank. We are a payment and financial management platform that offers services similar to traditional banks, providing the essential tools and resources for managing your business finances effectively.

Komal Habib

Content Writer at OneMoneyWay

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