Choosing the Best Credit Card Reader
Where and when do we use a credit card reader? A credit card reader is defined as any electronically powered device with storage medium that reads and processes credit or debit card information for business transactions like purchasing and banking. Nowadays, the convenience and accessibility of having your own credit card reader is becoming increasingly popular. Having the capability to accept credit cards anytime anywhere is now becoming a necessity especially for frequent shoppers, business owners and entrepreneurs.
At present, modern credit card or debit card readers read plastic cards that are embedded with either a bar code, computer chip, magnetic stripe or any other storage medium. Magnetic card reader is a device often used to read magnetic stripe cards like credit or debit cards. Laminated magnetic oxide tape printed on credit and debit cards is the technology behind magnetic stripes. The magnetic stripe technology is widespread and acquired easily, but is susceptible though to card wear, misreads and corruption of data, making it more susceptible to skimming when external devices are placed over the reader intercepting data reading. Hand-held smart card bank readers are used for payment applications, authenticate transactions online and amount and detailed card last few transactions verification.
Did you know that you can now convert your smart phone into a mobile card reader? When using a smart phone, the credit card reader is just plugged into the phone and then the application or app gets activated. If you are receiving a payment, all you have to do is punch the amount of the purchased item, swipe in the customer’s credit card through the credit card reader, and get their signature authorizing the payment. It is important to know that proper verification and book-keeping still apply because email notification is sent to buyers, however there are higher transaction fee charges for this kind of credit card readers. Top brands of credit card readers offer a costly yet attractive transaction fee flat rates, ensuring speedy next day payment as well as notification emails are sent to the customer every time a deposit is made in to your bank. This free smart phone card reader allows you to create loyalty programs for your customers and somehow allows you to customize extending purchase receipts, and allowing you to put your business logo or name on them. Also, one of the leaders in mobile payment services accepts checks by just taking a photograph of the front and the back of the check and accepts payment deposits within minutes of transaction. The PIN and Bluetooth authorization feature, is one of the best-selling smart phone card reader available today.
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