Credit Card Processing for Businesses: Why You Should Swipe Not Type
Posted on August 21, 2014
It seems crazy, in this day and age, that a company wouldn’t accept credit card processing. But, there are many cash-only businesses out there that survive and thrive.
At the same time, the companies that accept credit cards have a choice to make: to swipe or type? Here’s why you should consider swiping instead of the old-school method.
Companies, like Authorize.net, make taking online payments easy. But it’s not always easy to swipe a card if you’re an online merchant. If you’re a duel merchant, though, you have options. And, one of those options is to just send the card through an automated card reader. Card readers allow for one-pass reading of the card using the built-in magnetic strip on the back of the card. This makes processing transactions easier and much faster.
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Your Customers Will Feel Better About It
Your customers will feel better about you swiping their card as opposed to entering in card details manually. Why? Because, even if they do trust you enough to give you their business, they don’t necessarily want you typing you their card information.
There’s still a sense of distrust when it comes to that sort of thing – especially if you have to write out their card details. People are afraid of theft. Swiping the card means you’re not really examining their card number. You’re not going to store it – it goes straight to the processor. Most customers just plain feel better about doing business this way, even if they can’t explain why. They don’t like the idea that their card information passes through your hands first. They’d rather it pass directly to a bank where it’s safe.
Finally, the checkout process is faster – that makes everyone happier.
Your Employees Will Feel Better About It
Your employees won’t be entering in incorrect information, there’s less hassle associated with a sale because the checkout process is sped up significantly. But, more importantly, employees don’t have to take the risk of handling credit card numbers for customers. Many employees aren’t comfortable with this. It feels too invasive.
When your employees can simply swipe a card, they don’t have to learn another process for getting the sale. Consequently, you don’t lose as many sales to frustrated customers waiting for their card to be processed.
Swiping Already Standard Practice
The best reason to swipe cards is that it’s already standard practice. Almost every major brand swipes customers’ cards. In fact, swipe-based systems are becoming so advanced that some terminals now are moving to a swipeless process where the customer simply passes their card over the terminal and a special chip inside the card transmits the data straight to credit card processor.
Customers never have to hand over their card, and they don’t have to worry about merchants being in possession of their card details. Mostly customers get to retain control over their sensitive financial information, which is really what they’ve always wanted all along. Give that to them, and your business will experience more loyal customers.
Angela Williams has been an enthusiastic entrepreneur since she opened her first dog walking business in her neighborhood as a child. With years of experience and a sharp professional mind, she loves blogging about the ins and outs of small businesses in the modern market.