Find the Right Card Payment Machine for Your Small Business

In a world increasingly moving towards cashless transactions, it is detrimental for a business not to have card payment machines. However, with so many card payment machines available for SMEs, selecting the perfect one for your business can be overwhelming.

To support your decision-making, we’ve analyzed popular card payment machines for UK small businesses, breaking down their features, costs, and suitability depending on your requirements. This guide will not only simplify your decision-making process, but also direct you towards higher productivity and profitability, whilst solidifying your legal foundations for business dealings.

Key Factors to Consider

When choosing a card payment machine, it’s important to consider:

1. Features - Does it do what you need it to do?
2. Costs – Initial price of the device and ongoing transaction fees
3. Compatibility – Smooth integration with your current systems and processes
4. Connectivity – Confirm if it operates with WiFi, 3G/4G or both
5. Security Measures – How secured are the transactions?

Must-Have Features of Card Payment Machines

Whilst each card payment machine has its unique set of features, there are key capabilities your device should have:

1. Versatility in Accepting Payments - Can it process chip & pin, contactless, and major mobile payments?
2. Ease of Use – How simple is it to set-up and start accepting payments?
3. Mobility – Can the device function optimally anywhere, preferably on data coverage and Wi-Fi?
4. Reliable Battery Life – Can it support a substantial amount of transactions on a single charge?
5. Next-Day Settlement – How quickly can payments appear in your account?
6. Provision of Digital Receipts - Does it have the ability to provide digital receipts via email or SMS?

Top Five Card Payment Machine Recommendations

1. SumUp Air

Boasting a stylish design and affordability, SumUp Air tops the list with a great battery life that supports up to 500 transactions per charge. The device costs just £39 with an attractive 1.49% transaction fee and fast one-day payment settlement. You can readily accept chip & pin, contactless, and mobile payments with major providers like Google and Apple Pay, Amex and Diners Club.

2. Zettle Reader 2

The Zettle Reader 2 is lightweight and easy to operate, integrating a focus on security by adhering to the highest industry standards. With a flat rate per transaction and no monthly fees, it’s a go-to for small businesses craving affordable card payment solutions.

3. Square Reader

Cost-effective, sleek and lightweight, the Square Reader is an attractive option. Notable features include specially-designed POS dashboards for restaurants and mobile businesses that make appointments – think hairdressers or masseurs.

4. Tyl (by NatWest) Clover Flex

Tyl’s Clover Flex reader is an all-in-one POS system that functions as the backbone of your business, tackling both inventory and customer management, as well as itemised receipts. Though slightly bulkier, the reader is loaded with valuable features that boost your business operations.

5. myPOS Go

myPOS Go stands out with competitive transaction fees and excellent features such as multi-operator mode, making it ideal for cafes and restaurants. Their standout feature is the ultra-fast settlement of card payments, with funds accessible almost instantly.

Legal Considerations and Risks: Safety First

As we increasingly lack a human touch in business transactions, we must ensure our legal basis for dealings is solid. Fraudulent activity levels have risen with the advent of digitisation – with CNP (Card Not Present) transactions being particularly susceptible. Given this, choosing a card payment machine with robust security measures is crucial. Underinvesting in safety can open your business to potential legal ramifications or hefty fines.

Improving Your Business Foundations

To account for all the opportunities card payment machines provide and avoid risks, consider integrating Genie AI into your business. Our AI Legal Assistant can uniquely help you in drafting, reviewing, negotiating, and signing legal agreements. This will ensure the legal safety of your business and allow you to constantly improve the foundations of your business operations.

Conclusion

Choosing an ideal card payment machine requires considering both your business needs and the available options on the market. Hopefully, this guide has simplified the decision for you. Remember, your choice holds the power to either propel or impede your business operations.

So make the right choice. Elevate your business transactions to greater heights with a solid business and legal foundation. Embrace the cashless revolution today by signing up to Genie AI! Remember, the future is digital! Your business should be too.

‍