How to Select the Right Credit Card Machines for Your Business

By Olivia Johnson - Trusted UK Business Expert

Last Updated 4th of October 2024

5 minute read

If you’re a business owner, then you know that accepting credit cards is key to success. But with all of the different options for credit card machines out there, how do you know which one is right for your business? 

This complete guide will walk you through everything you need to know about choosing a credit card machine. We’ll cover the different types of machines available, as well as the pros and cons of each option. 

So whether you’re just starting out and looking for your first machine, or you’re ready to upgrade to a newer model, this guide has got you covered! 

What Does A Credit Card Machine Do? 

A credit card machine is a device that allows businesses to accept credit card payments. also known as a point of sale (POS) terminal, these machines are typically used in brick-and-mortar stores, restaurants, and other businesses where customers are present in person. 

How Does a Credit Card Machine Work? 

Credit card machines process credit card transactions by communicating with the credit card company’s network to get approval for the purchase. Once the transaction is approved, the funds are transferred from the customer’s account to the business’s account. 

What Are The Types of Credit Card Machines? 

There are a few different types of credit card machines available on the market, each with its own set of features and benefits. Let’s take a look at some of the most popular options: 

• Countertop credit card machines Countertop credit card machines are the most common type of machine used by businesses. They are typically small and lightweight, making them easy to transport and set up. Most countertop credit card machines come with a built-in printer, so you can give your customers a receipt for their purchase. 
• Mobile credit card machines Mobile credit card machines are ideal for businesses that move around, such as food trucks or market stalls. These machines connect wirelessly to a credit card processor, so you can process transactions even if you don’t have an internet connection. Many mobile credit card machines also come with built-in printers, so you can give your customers a receipt on the spot.  
• Wireless credit card machines Wireless credit card machines are similar to mobile credit card machines, but they don’t require a separate credit card processor. Instead, they connect directly to your point of sale system (POS) via Bluetooth or Wi-Fi. This makes them ideal for businesses that don’t have a lot of counter space, as you can keep the machine out of the way until you need it. 
• Virtual credit card machines Virtual credit card machines are software programs that allow you to process credit card transactions without a physical machine. These programs typically run on a computer, tablet, or smartphone, and they can be used anywhere that has an internet connection. Many virtual credit card machines come with features like invoicing and reporting, so you can keep track of your sales and customers. 
• Integrated credit card machines Integrated credit card machines are physical machines that are built into a POS system. This type of machine is ideal for businesses that want a streamlined checkout process, as customers can pay for their purchases directly through the POS terminal. 

What Are The Benefits of Credit Card Machines? 

There are a few key benefits of using credit card machines for businesses: 

• Increased sales Credit card machines make it easy for customers to pay for their purchases, which can lead to increased sales. This is especially beneficial for businesses that sell high-ticket items, as customers are more likely to make a purchase if they can pay with a credit card. 
• Reduced costs Credit card machines can help businesses save money on credit card processing fees by reducing the need for manual credit card processing.  This is because credit card machines typically come with a built-in credit card reader, so businesses don’t have to pay for a separate credit card reader. 
• Improved customer service Credit card machines can help businesses provide a better customer experience by reducing wait times and making it easy for customers to pay.  This is especially beneficial for businesses that have a high volume of customer traffic, such as restaurants or retail stores. 
• Increased security Credit card machines can help businesses reduce fraud by ensuring that credit card numbers are processed securely.  This is because credit card machines typically come with a built-in credit card reader, which encrypts credit card numbers before they are transmitted. 

What Are The Drawbacks of Credit Card Machines? 

There are a few potential drawbacks to using credit card machines for businesses: 

• Upfront costs Businesses may need to invest in a credit card machine, which can be costly.   However, businesses can save money in the long run by reducing credit card processing fees. 
• Maintenance costs Businesses may need to pay for regular maintenance and repairs for their credit card machines. This is because credit card machines are complex pieces of machinery that can break down over time. 
• Security risks Credit card machines may pose a security risk to businesses if they are not used properly. It is important to ensure that credit card machines are used in a secure environment and that credit card numbers are processed securely. 
• Compatibility issues Credit card machines may not be compatible with all types of credit cards, which can cause problems for customers.   It is important to check with your credit card processor to make sure that the credit card machine you select is compatible with the credit cards you accept. 
• Cancellation fees Some credit card companies may charge businesses a cancellation fee if they decide to stop using credit card machines.  This is because credit card companies typically charge businesses a monthly fee for credit card processing services. 

How to Select the Right Credit Card Machine for Your Business 

There are a few things to consider when selecting a credit card machine for your business: 

• Cost It is important to consider the upfront cost of the credit card machine as well as the ongoing costs, such as monthly fees and maintenance costs. It is important to compare the costs of different credit card machines to find the one that is right for your business. 
• Features Credit card machines come with a variety of features, such as invoicing and reporting.  It is important to consider which features are most important for your business and select a credit card machine that offers those features. 
• Compatibility It is important to check with your credit card processor to make sure that the credit card machine you select is compatible with the credit cards you accept.  Otherwise, you may have problems with customers being able to use their credit cards. 
• Security Credit card machines come with a variety of security features, such as encryption and fraud protection.  It is important to consider which security features are most important for your business and select a credit card machine that offers those features. 
• Customer service It is important to consider the customer service options that are available from the credit card machine company.  This includes things like customer support and warranty coverage.  It is important to make sure that you will be able to get help if you have problems with your credit card machine. 

Now that you understand the basics of credit card machines, it’s time to select the right one for your business. There are a few things to consider, such as cost, features, compatibility, security, and customer service.  Once you’ve considered all of these factors, you’ll be able to select the credit card machine that is right for your business.