The credit card machine of the future: less transaction costs, more flexibility

Credit cards have long been a liability for small business owners. When customers wanted to pay by card, this often came with hefty fees for the businesses. Especially for smaller transactions, this was very undesirable. Let alone the ease of use of these devices, where innovation has been negligible. What if we tell you there is a credit card machine out there that takes all those elements away? Innovative players such as SumUp have changed the way these machines work. Let’s dive into what this means for your business!

Credit card machine linked to your smartphone

Instead of being a device with its own software, the new credit card machine can be linked to your smartphone. The payment information is being entered on the smartphone whereas the request is transferred to the device, which is used by the customer. This also limits the use of the card machine as no buttons need to be pressed. This comes in handy especially in the times of this pandemic.

All the transactions at your fingertips

As a business owner this credit card machine is especially handy as it brings you a complete overview of the payments wherever you go. This makes it easier for you to have an overview of the revenues generated. The application that comes with is part of the package, requiring no additional costs for you as a business owner. All the costs become transparent and are visible through the application.

Lower hardware costs

As less hardware is present in these machines, the costs are also significantly lower. Hereby you can start using these payments machines without a hefty investment. Also, they are very easy to set-up and get started with accepting payments. You do not need a service engineer to help you get started, as used to be the case with traditional payment terminals.

Payment links are here to further revolutionise the way we transaction

Besides the introduction of a new type of card machine, there is also the payment link that is entering the stage. This payment means it is fully digital and contactless. You can simply send a payment request to a users smartphone and he/she can then conduct the payment via the preferred means of payment.

QR code in the store

This is not only a desired means of payment when customers order through the Internet or via phone. Another way is to use a QR code in the store. When you create a payment, you can show the QR code on e.g. a tablet or phone screen to the customer. The code can be scanned and the payment conducted. This is a good contactless alternative for in-store payments. Across Asia, this is already a common practice when going inside stores to pay for groceries and other items.

This year has been hectic for many business owners. With these innovative means of payments, we hope that you can spur innovation and accelerate towards 2021!