As a merchant you need to be able to take payments. What gets overlooked sometimes is the convenience for the customer. If you only take Paypal for example some people in smaller countries might not be able to pay. It’s similar with the chip and pin system you use. Some are better than others and we found a great side by side chart for the top three most popular machines with mobile chip and PIN. The side by side chart includes WorldPay Zinc, iZettle and Payleven.
Before you consider which one to use we recommend checking out this chart for details on how to they differ. You can find the side by side chip and pin chart here.
What do all of these solutions offer?
- No contract
- Mobile chip and PIN machine that works with your phone or tablet
As a local business, taking checks have become more risky so adding a credit card processor with debit card ability is a must for any brick and mortar business.
Here are some things to factor when choosing a card chip and pin system:
- One thing to keep in mind is if you need to take payment abroad now all chip and pin systems will work.
- The rate, some processors cost more than others.
- Do you need to take payments over the phone.
- Transaction limits are really important if you are selling high ticket items.
- The stability of the company you choose. Find out how many countries they are in and how long they have been in business.
As of 2015 85% of businesses are not using fraud protection chips. The number is changing fast as more businesses make the change but you could get away for another year or two with a pin only system. Of course if you are thinking long term you would want a chip system.
One major issue with not having the new chip reader is if a charge is disputed you cannot contest it. Only transactions with a chip read card can be disputed after October 31st 2015.
With that said it’s really important to get a newer chip system and when your choosing don’t forget to check out the comparison at www.chipandpin-machines.com.