The days when people walked around with plenty of cash in their wallets to use for purchasing goods have long gone. Nowadays people prefer to carry credit and debit cards which, due to increased security measures, is perceived to be much safer and offers the card holder a higher level of protection. This then places an onus on the business or store to have the correct payment terminal in place so that they can successfully deal with their customers and their preferred method of payment. There have been many different types of payment terminals available over the years but the new generation offers a business owner more benefits than ever before.
A payment terminal is the device that is used to collect the data from the magnetic strip that is located on the back of every credit and debit card. It then sends that data through the wires and in seconds will exchange it with the issuing bank to ascertain a variety of information such as whether the holder has sufficient funds for the purchase, that the card is valid and not under any suspicion, etc. Once this information has been obtained the payment terminal then completes the transaction and stores it in its databanks. However, makers of modern payment terminals have combined new technology with wireless internet connections to create the best one yet.
As briefly mentioned above, a wireless payment terminal delivers a number of different benefits for a modern business. To start with, there is no need for a dedicated phone line to be installed within the premises; all that is needed is the payment terminal itself and a wireless internet connection, which saves the business money. Another really big benefit is that it allows a business much more freedom and flexibility in developing their client base. For example, previously if a business wanted to attend a show, trade fair or special events then the chances were that they would have had to make any sales cash only, thereby potentially losing customers. A wireless payment terminal will be able to pick up a wireless internet signal no matter where they are and if the fair is being held in the middle of a field with no internet, they now come with special ports to allow them to be connected via USB internet dongles. This means that as long as they have a wireless payment terminal in hand, a company can conduct business at any time of the day or night so matter where they happen to be located.
The added security that comes with a wireless payment terminal is another great feature and this actually benefits both the business and its customers. Wireless terminals use a high grade data encryption function to send and receive the information obtained from the card. This coupled with a wireless connection, which is already digitally secured as standard, means that there is no chance of ‘technological eavesdropping’.
As you can see the wireless payment terminal is the perfect solution for any modern business, especially one that plans to expand its customer base and reach into new areas. If you are still using one of the old style payment terminals, contact your payment solution provider and ask for more details on a wireless payment terminal; you won’t regret it!
Author bio: Jake Williams is an expert in developing payment solutions (the Norwegian term is betalingsløsning) according to the specific needs of clients.
