How Smart Cards Could Impact Your Business In a Positive Way

smart card reader

The Internet isn’t the only technology that’s changed the commerce world forever. Sale by sale, Smart Card Readers and Smart Card Scanners are changing the way businesses operate. In fact, they are becoming a crucial part of Electronic Point of Sale (EPOS) systems.

Why are smart cards suddenly so popular?

Because they’re convenient for both customers and vendors alike.

Smart cards don’t work like traditional debit or credit cards. Instead of containing the customer information on a magnetized strip that is read by a magnetic stripe reader, smart cards have a tiny microchip and processor. This enables contactless payments, which most POS experts agree will inevitably become the standard form of payment. Essentially, they look and function exactly like normal credit cards, but with added convenience.

This technology is already being used for countless applications across the world, from things like storing electricity credit, security keys, and membership cards. It’s only natural that they would be used for everyday purchases like food and clothes, too.

In fact, many countries are already using smart card readers as the United States lags behind. In the 2014 TSYS Consumer Payments Study, around 43% of respondents said they prefer to make purchases with a debit card and 35% said they prefer a credit card. However, in just a few short years, POS systems have already evolved considerably. With many customers ready to revolt over the burdensome chip cards, contactless payment may be reaching a tipping point here in the United States.

This means that a smart card reader should be on every vendor’s radar.

There are many major advantages to this kind of system, but most businesses and retailers are still using “chip and PIN” transaction systems. However, the best smart card readers are easy to use, secure, and does not produce paper receipts, saving money and helping the environment.

Smart card systems are also, well, smart. You can purchase a smart card reader with USB support, which plugs directly into your firm’s network. This can integrate seamlessly with inventory and sales software, making it easier to collect and store important data, financial records, and customer information. Plus, with a smart card reader, loyalty points can be stored and directed towards online offers or membership bonuses.

In short, these cards aren’t just more convenient, they’re safer than magnetized cards as a whole.

If you have any questions about smart cards or scanners, or how they could benefit your business, just contact us. We’ll be happy to help you find the right point-of-sale solution for your business.

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