Are Your Credit Card Terminals Outdated?

Are Your Credit Card Terminals Outdated?

A credit card is a wonderful and suitable way to pay and get paid. But on the other hand, the different systems and technologies working together to make this happen can be a complete mess. The dark side behind this convenient method is steep cost, multiple mismatched systems and double-entry issues. If you are into any kind of business, you may have come across a point of time when you think that your credit card terminals don’t really match the pace of technology at present.

The lack of rich features has become a matter of concern for organizations handling several transactions on a daily basis. While it still is a popular choice for transactions made in person through a card, but there is a need to fill in the gap for Non-Card transactions or transactions made over a phone call.   Such kind of a situation is quite evident in commercial, manufacturing and wholesale industries, which require alternate terminal solutions to suit their business operations. Here are a few things that point towards an out-of-date credit card terminal in use:

E-commerce is way beyond the terminals

With the way things have gone in the recent past, technology has taken a leap into the virtual world of internet and everything has gone online. So, if you plan to offer your services online with that credit card terminal as the payment gateway, you are in for a knock-out. You’ll actually realize the true limitation of a terminal when it comes to being paid without physical presence of the customer.

To make things happen for you on the internet, you need to have a virtual terminal or a payment gateway (merchant account) on your website that makes life easier both for you and the customer. It’s a proven fact that your potential customers may ignore you if they are not satisfied with the authenticity of your transaction gateway.

The option to pay the bills online

If you put yourself in the shoes of a customer, you’ll realize it’s quite convenient to order something great from a reputed store without actually having to move an inch. You can’t really provide this flexibility to your customers with those credit card terminals. Take a step ahead to provide a virtual terminal solution on your official webpage. This is as easy as fixing a button on a switchboard.  Not only does it benefit your business, but also strengthen your customer database.

Checking records of past transactions

The biggest drawback of the credit card terminal system is the inability to provide detailed transaction report for a particular period of time.  In case you need them, you’ll have to scan through the invoices of the customer files, which obviously is a very tedious task.  Companies involved in transacting rigorously on a daily basis prefer virtual solution that provides comprehensive statement with a single click.

Manual entry is too much of a pain

Every company has a certain set of customers who keep availing the services on a regular basis and keep paying frequently.  In that case, you have to manually enter the recurring bill statement in a card terminal, which is time consuming.  With a web-based solution, all you have to do is to put the customer’s details and let the machine do all the recurring billing for you.