5 Considerations When Choosing A Bluetooth Credit Card Reader For Business

There are several important factors you need to consider when choosing a Bluetooth credit card reader for business. If you are looking to process credit card payments from your business mobile phone or tablet, a Bluetooth credit card reader could be a great option for you. According to studies, the percentage of Americans paying with cash is significantly dwindling. As a small business retail manager, you know that you need to keep your payment processing technology up to date to meet customers’ needs. Fortunately, there are many Bluetooth credit card processors to choose from. Read on to learn about several considerations when choosing a Bluetooth credit card reader for business.

Point Of Sale Features

One of the most imperative considerations for your retail store Bluetooth credit card reader is its point of sale (POS) features. Fortunately, most credit card readers offer a wide array of POS system features to optimize the checkout process. For example, one payment processing reader provides the ability to add your inventory for faster checkout. In addition, you can split sales between different payment methods, allow customers to add tips, and print, text, or email receipts. This option could potentially save your business’s credit paper resources. Some Bluetooth credit machines can even work offline, allowing you to accept credit without internet connection. These POS feature vary based on the provider. Therefore, you need to consider POS features that meet the needs of your business prior to purchasing a Bluetooth credit reader.

EMV Technology

When selecting your Bluetooth credit card reader, you also need to consider whether or not it has EMV technology. EMV is one of the most upgraded POS terminal technology for Bluetooth credit card readers. Most EMV Bluetooth credit card machines have the chip technology built-in, allowing retailers to dip the card into the top of the hardware. This functionality allows your merchants to safely accept chip cards. Moreover, it also helps them avoid liability for fraud that can occur with those credit cards. Similar to most EMV technology, Bluetooth EMV terminals typically accept magnetic strip cards as well as the newer chip cards. When purchasing your credit card reader, consider whether or not it has EMV technology to promote secure transactions in your business.

Contactless Payment Methods

When deciding on a Bluetooth credit card reader for your business, you also need to assess your business’s need for contactless payment methods. Due to COVID-19, it might be in your company’s best interest to invest in a credit machine that supports near-field communication (NFC) protocols. With contactless payment companies such as Apple Pay or Google Pay, customers simply hold their device or contactless card over the NCF reader to trigger the payment. This eliminates the need for merchants to handle those customers’ credit cards. Moreover, it can also help streamline payment processes for customer requesting to pay with this technologically advanced method. Contactless payment methods are important to consider in your Bluetooth credit card reader purchase, especially during the pandemic.

Bank Deposit Speed

When selecting a Bluetooth credit card reader, you also need to consider the bank deposit speed of the unit. Some credit card readers require you to activate a merchant account. This then acts as a holding container for your money. To take a case in point, funds from your credit card sales are held in a merchant account before being transferred over to your bank account on a weekly or daily basis. On the other hand, some credit card readers link directly to your bank account allow for deposits to be made the next business day. You need to consider the bank deposit speed when choosing a Bluetooth credit card reader, as it affects when you can access your money.

Varied Pricing Structures

Furthermore, you need to consider varied pricing structures when selecting your credit card reader. Depending on the brand of your machine there are different expenses to evaluate. Indeed, costs of this investment go beyond the price of the physical device. For example, you will pay different monthly fees and processing rates depending on which Bluetooth device you choose. One popular credit card processor charges 2.6% plus an additional $0.10 per transaction. Alternatively, other companies may charge lower rates but require an additional monthly fee. You need to assess your business’s budget to determine which cost you can afford. You can also try negotiating with your device provider to lower credit card processing fees. Consider varied pricing structures when choosing a Bluetooth credit card reader for your business.

There are several factors to keep in mind when choosing a Bluetooth credit card reader for your small retail business. For example, you need to think about which POS features are optimal and necessary for your company’s operations. Moreover, you also need to think about how EMV technology can affect the security of your transactions. In addition, consider the option of contactless payment methods to streamline purchases and promote sanitary practices. Assess your necessary bank deposit speed to ensure you choose the right device. Furthermore, you need to evaluate varied pricing structures to choose the most affordable credit card machine for your business. Consider the factors above when choosing a Bluetooth credit card reader for business.

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