Is It Time to Update your Credit Card Machines?

July 23, 2018

Keeping your business updated with the latest payment technology is an easy way meet the ever-changing needs of your customers. Like all forms of technology, credit card machines will show signs of aging, like not being able to process payments, and eventually will need to be replaced. However not all clues that your terminals are ready for replacement are so obvious.

If you find yourself agreeing with at least one of the following signs your credit card machines are outdated, it might be time for an upgrade!

Your Terminals Are Slow 

One of the most obvious signs that you need to update your terminals is simply when they work much slower than they should. Given that modern software changes at such a rapid rate, it can be difficult for older hardware to keep up with the demands of the latest programs and network requirements. There are a number of reasons why the processing speed of your terminal could start to slow, including:

  • Outdated software
  • Outdated hardware
  • Network and security issues
  • Damage or wear-and-tear from daily use

No matter the technical reason, old terminals can lead to slower checkout times, frustrated customers, and even lost sales.

Your Terminals Can’t Accept the Latest Payment Technology

Payment technology is evolving at a rapid rate and it’s more important than ever to keep your terminals current with technological changes. These include updates like accepting tap card and contactless payments through smartphones or other smart devices. 

Supporting the latest payment technologies requires payment terminals that accept near field communication payments, or NFC. Most new terminals come NFC equipped, with the technology already enabled when you take the terminal out of the box; other terminals require manual turn-on of the NFC technology that you can do in-store. If you have a terminal that isn’t NFC enabled, it’s time to upgrade to a model that has this option.

Your Terminals Can’t Keep up With Customer Needs

The ability to forge and maintain relationships with customers is one of the most important parts of running a successful business, so being able to meet their needs on a regular basis is important. Providing a seamless payment experience is a great way to leave a positive impression, but requires that you have terminals that can keep up with every step of the checkout experience. 

This goes beyond quick-processing terminals. It means terminals that support the payment method they prefer, the card brands they rely on, and the up-to-date security features to keep their information safe. In food service environments, the right terminal might be a wireless model that can be brought to the customers table and accept contactless payments. In retail stores, this may mean having multiple terminals on-hand to process multiple card-based payments at one time.

Updating your credit card machines isn’t just for the benefit of appearances; they can make a significant impact on your customers’ experience. If you’re interested in learning more about how to upgrade your machines, make sure to take a look at our article How to Choose the Right Payment Terminal For Your Business.

The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed. 

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