The benefits of chip & pin for small businesses
SMBs have a host of benefits to enjoy from adopting as wide a variety of payment methods as possible. Ultimately any way you can serve the customer better is going to drive your sales and encourage your growth. If you’re a small business, installing a chip & pin terminal can have the following benefits.
Chip & pin technology has been around for some time now which means extensive development has already been done to make the process as safe as possible for both you and the customer. Ultimately there are few more attractive things to a customer than payment security.
Think also of how you deal with the cash you will take during the day, it has to be physically taken to the bank which is not only time consuming, it could render you the target of theft. With chip & pin the process is entirely digital, the funds are transferred remotely within a few days.
Customers always appreciate a business which makes the necessary investment to improve their shopping experience and installing a chip & pin machine makes the payment process much easier and convenient for the customer and for you. This will help to encourage brand loyalty and enhance your market appeal.
A card reader is also a great way to make the most of impulse purchases. Customers are far more likely to buy goods on a spur of the moment decision if they don’t need to have the cash on them to make the purchase. A chip & pin reader is a wise investment from this perspective.
Better brand image
Electronic payment methods have grown to the point of being somewhat ubiquitous now and so if you don’t have them to offer customers, you’re giving off the unintentional image of being behind the competition. It can be a subtle but pervasive dent in your customer appeal.
The simple act of installing a chip & pin machine lets customers know that you’re competitive and that you’re aware of all the requirements of a modern shopper. In an age where so much of the purchasing process is done digitally, electronic payment methods are conspicuous if they’re absent.
February 4, 2019