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"When selecting a terminal for processing payments in your business, there are several factors to consider to ensure you find the best solution for both you and your customers" explains Kevin Marlow, Cashflows Product Manager for In-Person Payments. Here are a few insights to think about before you select the right terminal for your business and your customer.
To choose the right terminal, it's crucial to think about how you will be accepting payments. Will you take payments "At the Counter," requiring a desktop terminal? Or do you want to offer payments "At the Customer," suitable for a restaurant environment or where flexibility is essential? Alternatively, if you need to take payments "Out and About," a mobile device with a SIM card might be the best fit.
• At the Counter: A desktop device with Wi-Fi and 4G connectivity may be necessary. Consider whether you need a separate PIN pad for customer interaction.
• At the Customer: A portable device with a compact design is ideal. Look for a solution with Wi-Fi and 4G connectivity to allow you to move around your business while processing payments.
• Out and About: A mobile device with a lightweight design is perfect for on-the-go payments. Make sure it has a roaming SIM card for better connectivity in various locations.
How your terminal communicates for transaction approval is essential. Many devices now come with "dual comms" meaning they support both Wi-Fi and 4G SIM. This feature enables fast transaction speeds and reduces your reliance on a physical ethernet connection, particularly in locations where Ethernet ports are limited. Having a device with dual communication options minimises downtime if there are issues with your primary connection method.
It's also worth considering features that may enhance the payment experience for you and your customers. All terminals should accept various payment methods, such as Contactless/Mobile Contactless (e.g., Apple/Google Pay), mag swipe, and key entry. Some devices even offer additional Value-Added Services (VAS) that can improve the payment experience, like loyalty programs and electronic point of sale (EPOS) integrations. To start, many businesses may only require basic card payment capabilities and not any value-added services.
Once you've determined the type of terminal you need, you'll want to review potential providers. Check what is included in the monthly rental fee—some devices may appear low-cost initially but come with extra fees for servicing or additional features. Also, consider the level of service provided. Does the provider have a technical helpdesk that is available during your trading hours? As terminals can develop technical issues, having a provider that offers reliable support can ensure quick resolution.
Security and PCI compliance are critical when handling card payments to protect both you and your customers from data breaches. The terminal provider should ensure that your device is compliant with the latest standards and assist you with any PCI compliance inquiries. Avoid putting yourself at risk of data breaches, as you may be held liable for any fines if one occurs.
Finally, check the settlement period offered by your acquirer. Some may provide same-day or next-day settlements (often at an additional cost). How you receive your funds, and the frequency of these pay outs can significantly impact your business management.
What Solutions Does Cashflows Have?
As an acquirer, Cashflows offers a range of competitively priced terminal solutions suitable for various business types, featuring a fully Android-powered platform for fast and secure transactions. Our offerings include:
- Desktop Device: Ideal for in-store transactions, equipped with dual comms (Wi-Fi and 4G roaming SIM).
- Portable Device: Perfect for payments made at the customer’s location or while out and about.
- PIN Pad: Designed for integrated solutions at the counter.
- Trans parent Pricing: We offer competitively priced solutions with no hidden fees.
- Helpdesk Support: Available seven days a week (Monday to Saturday, 8 AM to 10 PM; Sunday and Bank Holidays, 10 AM to 5 PM).
- Next Working Day Deployment: Quick setup for your terminal.
- Next Working Day Replacements: Normally free of charge unless the device is damaged.
- PCI Compliance Support: We help you maintain compliance with industry standards.
- Ongoing Enhancements: We provide regular feature releases to improve your terminal's capabilities.
To find out how we can help you with your in-person payments, click here or compare our range of card machines to see which one is right for your business.
