If you are in the retail sector, an electronic checkout system can increase the capacity of customers that can be served during peak hours. However, if your electronic POS system does not have a chip and pin machine, then you are potentially losing out on valuable revenue. With the advent of cashless payment systems, an increasing number of customers expect to pay for goods or services by card. In fact, many people prefer to carry debit and credit cards for fear of losing cash. In order to cater to such shoppers, you need to invest in a good chip and pin machine, which is also called a smart card reader.
What does a Chip & Pin Machine Entail?
Smart card readers are typically the size of a large electronic calculator. They have a keypad, small display, and slot for reading debit or credit cards. The process of using one is actually very simple. Usually, a business sets up a merchant account to store records of all card payments. The attendant swipes or inserts accepted cards into the card reader and prompts the customer to enter their secure personal pin. The chip and pin machine, then deducts the payment from the customer’s card balance once the transaction has been approved.
Top EPOS Chip and Pin Features
More payment options allow a business to serve a wide range of customers, from those who prefer cash to clients that make card payments. This is the reason why a chip and pin machine is an indispensable part of any point of sale terminal that intends to meet payment preferences of all kinds of shoppers. However, card readers are not alike. It is therefore important to pick one that can easily integrate with your EPOS system. With that in mind, here are the top features when choosing chip & pin machines for a retail point of sale terminal.
- Compatibility: The last thing you want to experience after investing in a chip and pin machine is to find that it is not compatible with your electronic POS till. You can avoid this by choosing an EPOS vendor that supports chip and pin hardware integration.
- Tight Security Features: Credit card fraud is a huge threat when it comes to using smart card payment systems. As such, any good chip and pin gadget should support high security standards to ensure secure transactions. Check to see if your chip and pin developer is PCI DSS compliant. This is one of the most secure technologies for processing card payments with chip and pin machines.
- Fast Transaction Time: Long processing times can be inconveniencing for both customers and POS attendants. To avoid this, it is best to look for a smart card reader vendor that supports fast and reliable card payments.
- Support for Multiple Card Providers: Smart card hardware vendors are very specific about supported cards. It is advisable to go for a brand that supports top card payment providers such as Visa, MasterCard, as well as local banks and credit card companies.
Keep in mind that not all chip and pin machines are compatible with electronic POS systems. Therefore, it is important to choose a provider that allows seamless integration of smart card readers with the point of sale system.