How EMV Can Affect Your Business And How To Stay On Top Of it?
Gone are those days when we used to rely on cash for each and every business transaction. Fast forward to the present day and no business worth their salt would insist that their customers pay via cash. In fact, the number of people carrying wallets on their person have reduced over the years. These days, the general mobile point of sales technology is gaining momentum. Mobile card readers and mobile cash registers have become commonplace.
It doesn’t matter what type of small business you run; be it a restaurant, plumbing, bookshop, beauty salon, retail store, or even a grocery market- you definitely need a Europay Mastercard Visa (EMV) technology to accept different payments from your customers.
As long as you are operating a brick-and-mortar business with a physical store or even a mobile business on the move, you would need EMV tech to help process prompt payments. There is no point in running a business where your users have no access to quick and easy payment solutions.
So, what is this Europay Mastercard Visa (EMV)?
EMV payment technology makes use of enhanced card readers in order to process debit and credit card payments from your customers. It is secured with the help of an encrypted microchip that is embedded inside the card. It is there to protect the buyer ie. your customer as well as you, the seller. It is very similar to a traditional point of sales terminal but with added security.
EMV is a reality today, thanks to the advancements in modern technology including WI-FI, Bluetooth, smartphones and internet connectivity. Your business should be able to make use of digital technology to aid your customers in paying you easily.
Though there are several EMV card readers popping up in the market, SumUp is the industry leader in this segment.
So, How Does SumUp Card Reader Help Your Small Business?
SumUp EMV card reader will help you to accept payments from your users for any service or products. It is very similar to a Credit card machine. If you are in the business of direct physical sales, you can blindly go with SumUp EMV card reader. It enables you to get paid instantaneously with both debit and credit cards with just a single swipe. If your point of sales terminal is not equipped to deal with the latest EMV tech embedded credit or debit cards, then you may be losing a lot of business opportunities and it’s best to upgrade to SumUp Card Reader.
Why Should You Use SumUp EMV Card Reader?
There are a plethora of benefits that comes with the SumUp EMV card reader. We will just list a few in here:
- SumUp EMV card reader is enabled with contactless, chip, as well as magstripe technology. The tech used in the SumUp EMV Card Reader is also compatible with the popular iOS/Android smartphones and tablets. It will connect via Bluetooth to any device seamlessly.
- SumUp is designed with the Internet in mind. You won’t get stuck with any paperwork and you won’t be required to enter into any cumbersome contracts. You will be able to sign up in a matter of minutes and get yourself running in no time.
- Payouts for SumUp is a lot more faster and prompt. The fees are straightforward and you pay just about 2.75% of your credit card processing fee per transaction. You will be able to make the payments directly to your bank account.
- You will be able to accept every debit and credit cards on the face of the planet with the help of the SumUp EMV card reader.
- You will be able to use your iPhone, iPad or Android smartphone and tablet to collect payments with credit and debit cards.
I hope this article was useful and you’ve been able to learn a bit more about the best features of the SumUp EMV card reader and how you can use it for the growth of your business. There are so many possibilities that are unlocked with the help of this. Make the most out of it!. If you have any doubts with regards to this, let us know through the comments and we will be glad to help you out. If you have any suggestions regarding how we can improve the article, you can reach out to us through the comments section down below!