In the modern era, everything is about the overall convenience. This is why an increasing number of consumers are leveraging the ease of online shopping, advanced subscription services, and the utilization of debit and credit cards. As a business owner, you might miss out on a number of customers by serving as the ‘cash-only’ business. Therefore, it is high time you should invest in a reputed credit card reader to maximize your overall revenues.
Whether you are running a retail store or a restaurant, or any other type of small-scale business, you should aim at taking credit card payments out of the customers. To support you with the same, there is a myriad of credit card readers out there in the market. However, not all card readers are considered equal. You should explore the list of the best credit card readers for small businesses on the basis of features, cost, reputation, and so more.
How to Choose the Best Credit Card Reader 2023?
The best credit card readers for small-scale businesses should be capable of offering an easy as well as flexible way of taking payments on the go or at the counter. As you are shopping for a credit card reader, here are some pointers to consider:
- Acceptance of the Payment Methods Used by Customers: Usually, it implies some of the popular credit cards. However, it can also refer to mobile wallets that help in tokenizing credit card information -like Apple Pay.
- Appropriate with Your Business Volume and Flow: The modern range of credit card readers is available in a wide variety of profiles and styles. You should look into the transaction volume of your business while considering how mobile the particular device should be.
- Cost-effective: Credit card readers are usually known to be inexpensive. At the same time, portable smart payment terminals can be regarded as wise investments. You should aim at paying for only as much services as your business requires.
- Absence of Unnecessary Contract: There are some payment processors who deliver the assurance of free credit card readers or payment terminals. In a number of cases, these are available with some type of obligation. Therefore, you should ensure what you are exactly getting into.
Here are some of the best credit card readers for your small business:
Square Terminal
Square Terminal is available as the all-in-one device featuring the 5.5-inch display along with a dedicated receipt printer. Therefore, it is known to be a highly versatile option. The card reader is capable of functioning as both primary as well as secondary credit card processor. It is possible to set up the device in the form of a mobile, online, or even countertop card payment solution. In case you do not possess a merchant account for your business, Square Terminal is available with a free payment processor and merchant account. Therefore, there is no requirement of applying for a dedicated merchant account and waiting for its approval.
Some of the top-class features of the credit card reader include immense portability, affordable payment plans, and greater compatibility with a wide range of software as well as hardware tools. All of these features make Square Terminal a great choice for most businesses.
Some of the unique features of Square Terminal credit card reader are:
- Support for NFC payments -exception on free magstripe reader
- Presence of EMV chip reader -exception on free magstripe reader
- Presence of sleep mode for conserving power
- Connection with the help of a lightning port or the 3.5mm headphone jack
Toast Go 2
Toast Go 2 serves to be a proprietary, standalone hardware solution that has been designed to effectively manager restaurant-centric operations. At the same time, the credit card reader is also capable of processing tableside payments. With the all-new kit of pay-as-you-go feature, Toast Go 2 allows new restaurant owners to launch a dedicated merchant account while getting both software as well as hardware without any monthly fees or upfront costs. The dedicated card reader system also offers access to a wide range of add-on software solutions that are perfect for scaling full-fledged restaurants.
Toast Go 2 comes forth with the pay-as-you-go plan for its range of handheld devices. This implies that you have access to Toast Go 2 without making any payment for the hardware by giving any significant per-transaction fee. Toast Go 2 is capable of providing access to all important features that you will require for managing your full-service, busy restaurant.
Some of the unique features of the credit card reader to look out for are:
- Presence of 6.5-inch touchscreen display
- Acceptance of EMV chip, NFC, and tap payments
- Bluetooth and Wi-Fi connectivity
- 1-year warranty
- Integration with loyalty, marketing, and KDS features of Toast
- Available with the built-in POS
- End-to-end tokenization and encryption
Square Contactless
Square Contactless credit card reader allows businesses to ensure the acceptance of EMV, chip, and even contactless payments with the help of the mobile device. The credit card reader remains compatible with both iOS and Android devices while integrating with the free POS system of Square for managing reporting and real-time inventory. The software and hardware solutions offered by Square remain famous with the merchants. It is because it happens to be a highly reliable system that is capable of seamlessly processing payments -without Internet connection.
Square Contactless is known to be wisely priced in comparison to Square Terminal. Some of the unique features of the card reader are:
- Acceptance of contactless and credit card payments
- Bluetooth connectivity with the mobile device
- Compatible with all devices running iOS 12 or higher and Android 5.0 or higher
- 1-year warranty
- Support for all Square POS solutions
- End-to-end encryption
- Online video tutorials and user guides
Square Register
Square Register serves to be a full-fledged, integrated Point of Sale (POS) countertop-based credit card reader system. This implies that there is no requirement of any additional software or hardware for processing transactions and managing the entire business. It is possible to set up the credit card reader within minutes. Therefore, you can look forward to start accepting payments right away. Square Register is also available with a second screen for serving as the payment terminal and for displaying customer display. This offers customers the option of choosing the preferred method payment -including dipping, swiping, tapping, QR, and NFC payments.
The free POS by Square that is available with built-in hardware along with a second screen for the purpose of payment processing is serving as a great countertop option. The entire hardware unit is easy to set up at the same time. Some of the additional features of the credit card reader to look out for are:
- 2-year warranty
- USB and Bluetooth connectivity
- Plugged-in power source
- Available with a second screen for payment processing and customer display
- Acceptance of QR, contactless, and chip card payments
- End-to-end encryption
- Online video tutorials and user guides
SumUp Plus
SumUp Plus is available as the 3-in-1 mobile-based credit card reader that is also available with a dedicated PIN pad and a free app for payment processing. The card reader permits users to accept dipped, tapped, and swiped payments in addition to peer-to-peer and NFC payment mechanisms like digital wallets -including Google Pay & Apple Pay. Just like Square, the card reader by SumUp Plus will fit in your budget. Therefore, businesses can easily use the same to accept payments for deliveries or at farmer’s markets. There is also the availability of an optional dock if you wish to use the countertop setup.
The overall design and versatility of the credit card reader by SumUp Plus has made it a great choice -especially in terms of its hardware features. Some more features to consider are:
- Availability of optional dock
- Online video tutorials and user guides
- Acceptance of EMV chip card, magstripe, digital wallet, and contactless payments
- Bluetooth connectivity with Android and iOS devices
- 1-year warranty
- 30-day money-back guarantee
- Card tracking and card registering features
- Free app of SumUp Plus along with sales tracking and project management tools
Conclusion
Which is the best credit card reader for your small business? No single credit card reader will suit all types of businesses. Therefore, you are expected to consider specific needs of your business. When you have a proper understanding of the credit payment industry, it will help you in finding the right solution for your business needs.
