In this day and age, not accepting credit cards makes it difficult for any business to survive. But offering credit card options as methods of payment may not be enough to attract new customers or keep old ones. As credit card fraud becomes more common each year and the marketplace continues to become more saturated, your business needs to set itself apart and make it easier and safer for customers to shop with you. To that end, here are a few ways you can use credit card readers to attract and protect your clients.

1. Embrace mobile payments
   If your environment is fast-paced and tech-savvy or if you don’t always conduct business in the same place, both you and your customers could benefit from mobile payment options. In addition to (or in lieu of) magnetic card readers, you can allow customers to pay with smartphones or devices with payment abilities. A lot of consumers have become accustomed to making payments with a couple button clicks, like with PayPal or with their integrated Apple IDs. In fact, a 2015 Accenture study found that 23% of millennials and 38% of higher-income households use contactless payments (i.e., mobile wallets or methods that don’t require a credit card reader) at least once per week. Around 23% of field service workers already use mobile payment options due to their convenience and growing appeal. By making payments easier for customers, they’ll be even more likely to spend money with your business.
2. Use a smart card reader
   While magnetic card readers are still used all across the country, many organizations are switching to smart card scanners. The transition can be frustrating for some consumers, as these special credit card readers can’t be found everywhere as of yet. But they’re the far safer option for your customers and for your business overall. Credit card fraud is becoming more prevalent and many customers want to know their transactions are protected. Because these smart card readers encrypt this information, it’s not likely to fall into hackers’ hands (and if it does, they’ll have a tough time cracking the code). If you do invest in a credit card reader, make sure it’s one with a chip scanner, rather than an antiquated model.
3. Reward their loyalty
   Did you know that you can actually use your credit card reader or other payment system to create a customer loyalty program? You may never have considered having one before, but it can really give your business a boost. In fact, a study from Experian found that 75% of U.S. companies that implement such a program see a return on their investment. And another study from KiteWheel discovered that 25% of customers feel frustrated when a business doesn’t recognize them as a current or past customer. That means that if you don’t have a way to reward your customers and give them incentive to keep coming in, you’re actually leaving money on the table. If you want to make a good impression, this small gesture can be a great way to go. In addition to the convenience and protection your customers will experience shopping with you, you’ll want them to feel appreciated too.

Whether you need better solutions for your credit card scanning or need a reliable ID reader, kiosk scanner, or reader for documents, Peripheral Dynamics is here to help. For more information on how our products can help your business grow and provide assistance to your customers, please contact us today.