Societies are paving their way to emerge as cashless, reducing the need for people to keep cash in hand and taking away all their worries regarding cash. More and more people are choosing to pay through cards, and with rising cashless payments, a well-functioning card machine is a must for a small business. There are various options available for card readers in the markets.
Card readers are a safe and secure method for accepting card payments. When a card is swiped, tapped, or dipped, it can decode the cardholder’s information present in the card’s magnetic or microchip. This information is further transmitted to the other parties in the payment network to obtain authorization. After authorization, payments are made, which are efficient, swift, and hassle-free.
Want to know more about the best card reader for small businesses? Keep on reading!
What’s the Best Card Reader for a Small Business?
Here’s the list comprising some of the best card readers for a small business:
Square has a compact and simple design that can fit into a pocket. It is designed to cater to the needs of small to medium-sized businesses. Square can accept contactless payment through chip and pin, apple pay, Samsung Pay, or android pay. The machine accepts payments by Square app available on Android and iOS. The app contains plenty of features like detailed sales reports. It provides high levels of security, and there are no extra fees or contracts. Transaction fees lie within the range of 1.75% to 2.5%. The cash gets available within 3-6 days in the bank account.
2: Zettle by Paypal
Zettle by Paypal card readers has a stylish look allowing a wide range of card payments possible. Zettle by Paypal was previously known as iZettle, and Paypal acquired it in 2021. Zettle is a complete point of sale (POS) that obtains payments and tracks transactions all in one place. The payments are accepted by the Zettle app, with a plethora of features helping businesses grow. 1.75% are the transaction costs.
Zettle possesses eight-hour battery life. The card machine links to the app through Bluetooth on your phone. So, it needs to be connected to the phone at all times. It is suitable for small retailers, market stalls, cafes, and restaurants.
3: WorldPay card reader
WorldPay is widely used among small businesses due to its high levels of security. It offers various ranges of contracts. One of WorldPay’s plans, Simplicity Plan is a rental plan offering an eighteen-month agreement. Transaction fees are dependent upon the monthly sales of the business. So, for a small firm, WorldPay will be ideal with minimal transaction fees.
The machine allows businesses to obtain payments through Visa, Maestro, Mastercard, Google Pay, Apple Pay, and Samsung Pay. The app lets you take payments over phones and bank transfers, taking up to three days. The app also possesses business features like sending payment links, email invoices, etc.
4: Barclaycard Anywhere
Barclaycard Anywhere has basic functionality and uses the same machine as WorldPay and PayPal. Its sole aim is to facilitate payments and does not provide features to upload inventory or track sales. It is ideal for small businesses that incur occasional transactions. The fees for card payments are as low as 1.6%.
Barclays’ device accepts payments while maintaining a connection with your mobile phone or a tablet. The card reader takes Visa and Mastercard only. If you are looking for a card reader with no additional features, and the lowest transaction costs, Barclaycard Anywhere can be an option.
5: SumUp 3G card reader
SumUp 3G card reader does not have any setup charges, making it ideal for infant-stage businesses. A business can purchase the machine, and you will be charged a transaction fee of 1.69%. SumUp is one of the best card readers for small businesses due to various reasons. It does not require any connection with the smartphone, it works with a SIM card. The services are contract-free, a merchant can leave whenever he wishes. The SumUp app has a plethora of unique features that allows one to set up an online store and provides several analytical tools.
6: Takepayments A920
Takepayments A920 offers a twelve-month contract with payment costs ranging from 0.3% to 2.5%. The transaction costs depend upon factors like total cards accepted, monthly sales, and average transaction value. It comes with no setup fee and can be active within 24 hours. It offers next-day settlements that need no extra cost. It is a ‘multipay’ smart POS, that six users can share. It provides an in-depth analysis of sales, helping to track daily transactions and identify consumer patterns.
MyPOS is a cheap, portable device with a slightly outdated terminal. There are several MyPOS machines available. The most basic one is MyPOS GO, while the most high-priced is MyPOS N5. The transaction costs for MyPOS are 1.75%. It does not require any contract and accepts a wide range of cards. It comes with wide-ranging unique features like multi-currency support, immediate access to card payments, and gift cards. It is a perfect fit for users that require instant access to funds and small businesses looking for small transaction costs.
8: Ingenico iWL251
Ingenico iWL251 is portable, compact, has a lightweight terminal, and small enough to fit in a pocket that solves problems of various small businesses. It accepts payments from all major cards and contactless payment methods. It is an ideal fit for firms that need to process payments quickly, cutting down waiting periods. The transaction charges range from 1% to 5%, depending upon monthly turnover. It provides end-of-the-day reports. It requires only a sim and a GPRS connection, making it suitable for on-the-road sellers. One of the disadvantages is that it requires a long setup time of about three to eight days.
The above mentioned are our various card readers. Find a suitable one that caters to all your needs. There are too many options available, before purchasing one, take a dig into all features such as security levels, portability, analytical tools, cards accepted, and transaction costs.