Mobile Chip and PIN Technology – Convenience for Small Businesses

A new research conducted by Loudhouse in the UK consisting of 5176 UK consumers of 18+ age has provided evidence that small businesses which are not offering card payments are losing customers, income and reputation. 20% of customers have abandoned purchases during last year which they cannot pay by card. 87% have said that they will prefer to spend more where payment by card is facilitated. Thus it is clear that providing card payments has become an important part of customer care for small businesses. Reasons for small businesses being deterred from offering card payments are not illogical. But the scenario is changing fast. You might want to check this out.

Most of today’s Chip and PIN readers are still restricted by big processing terminals and cords. They also need the business owners to sign lengthy agreements that incur additional fees. Resulting inconvenience and extra expenses naturally discourage small businesses to use them. But now there is a fine solution to the old-fashioned card readers.

The Mobile Chip and PIN Technology

The mobile chip and PIN reader of today is smaller, quicker and cordless offering ultimate convenience. Fortunately card readers have been improved so as to be paired with smartphones and tablets. These devices are revolutionary because of their small size and easy-to-use interface.

The mobile card payment tool is easy to install and can be brought into use anywhere, anytime till you have your phone service working. The technology is safe to use and works well with all international credit card acceptance norms.

Companies Providing the Service

The early companies to provide the mobile chip and PIN technology were Payleven and iZettle, which are now joined by a number of other companies like Paypal, Worldpay and Barclaycard. So, you have a wide choice. They are more or less similar in their process and efficiency and all are good, so you can choose any one. Just sign up, purchase a card reader, download a free app on your phone and you are done. Each transaction incurs a small fee typically less than 3%.

Advantages to Small Businesses

Today’s mobile chip and PIN machines are inexpensive and are available without a contract. They are perfect for small businesses like traveling salespersons, market traders, beauty professionals, etc. Because there is now a lot of competition in providing this service, you also get the benefit of various special offers on card readers. Their features are more or less the same, but a little research regarding these special offers can avail you of a beneficial deal. Some companies permit using multiple machines from a single account. Some allow usage for businesses as well as individuals. Payleven is presently offering a discount of £20 using a promotional code. So, if you search around, you can get such beneficial deals to get more out of this facility.