How Merchant Serving Consultants Make Accepting Cashless Payments Easy For Businesses

By Author: Roger Milne
Total Articles: 11
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In this era of mobile money, debit and credit cards, every business needs to incorporate the new systems of accepting payments. These new age transaction systems include Chip and Pin Machines that are also commonly known as card swiping machines as well as payment gateways that facilitate online transactions. Having these new modes of transaction at the point of sale not only gives the customers the assurance of easy transactions but also gives business an edge over others.

While these cashless payment systems are quite convenient to use once installed, a lot of work goes behind getting them ready and operational. There are companies and teams of experts who are hired to help businesses set these systems up and get them to accept payments.

Why should businesses contact Merchant Services Consulting Firms for their Chip and Pin terminals?

• These firms help start up companies understand the nuances of card payments and online transactions before getting into the process of signing up.
• These consulting firms mostly deal with all the major card providers and so they are able to give their clients ...
... the most transparent deal depending upon their needs.
• The consulting firms present comprehensive reports after in depth market research and analysis, and in this way it saves the client’s time in carrying out such activities.
• The consulting firms employ highly qualified financial advisors and so the clients can be sure of getting the right information free of biases as may happen with mere sales agents.
• The merchant services consulting firms always help their clients understand the risks involved as well as anticipated expenditures before going ahead with the signing up process.
What are the different kinds of Chip and Pin systems that business can avail?

Primarily there are 4 basic kinds of card swiping terminals. They are:

Countertop PDQ: As the name suggests, these machines are placed right on the sales counter and is connected to internet and electricity source via wires. These help in convenient and quick transactions in a retail setting.

Portable Terminals: These terminals are of two kinds based on their internet connectivity. They can be Bluetooth or Wi-fi enabled. They are charged when placed on the cradle and not in use and these can be used in the radius of 50-100 m, dependent on the range of the Bluetooth or Wi-fi. These machines come in handy in places like gas stations, restaurants, hotels, salons, etc.

GPRS Mobile PDQ: As the name suggests, these are mobile card terminals usually carried around by pizza or other such food delivery personnel as well as doorstep service providers like carpet cleaners and plumbers.

Contactless Payments: These machines allow small transactions to take place by bringing the card near to the terminal as they do not necessitate the use of pins. Since these are good for small transactions, they can well be used in express billing counters.

Precautionary Measures For Accepting Cashless Payments Via Card Swiping Terminals
Merchants who accept cashless payments either via cards or online payment gateways must be very careful about how the entire transaction is carried out so as to avoid being cheated or accused of mishandling sensitive customer data. The following measures can surely help in the prevention of such issues:

• Swiping the credit or debit card only in the presence of the customer
• Having SSL certificates in place if accepting online payments
• Restricting the collection of customer data to only what may be required for future prospecting
• Keeping systems and computers password protected
• Keeping the data in encrypted form
Therefore, it can well be said that card swiping machines have given new dimension to the way monetary transactions and have not only added to the convenience of the buyers and sellers but also given a boost to the global retail industry.

Independent Merchant Services was established in 2011 and since then it has been providing dedicated services in the field of merchant services consulting, enabling businesses to successfully install card swiping machines and online payment gateways. Based out of Northwest England, the company has helped a lot of small, mid-sized as well as multinational companies across the U.K establish secure modes of cashless transactions in their business units.