Most stores today offer a variety of payment options for their customers to use. However, there are some companies that haven’t made the switch to using card reader magnetic stripe devices. These devices have so much to offer both customers and companies. Let’s take a look at a few of the biggest benefits these card readers can offer companies.

Bring in more customers: It’s no secret that more and more customers are beginning to prefer to not pay with cash. In fact, a 2014 survey found that 43% of consumers prefer making purchases with a debit card and 35% prefer to use credit cards for purchases. With that in mind, businesses who only accept cash can be losing out on a significant number of potential customers. Instead, utilizing a card reader magnetic stripe machine will help grow the potential customer base and bring in more customers overall.

Offer customers more convenience: Not only is it easier to use debit or credit cards in general, but having magnetic card readers offer more convenience to customers. Instead of having to get out cash and change or wait for the employee working the register to scan the card, customers can simply use the magnetic card scanner to swipe their card and be done with the transaction. These card reader magnetic stripe devices can quickly and efficiently complete a transaction, making buying items a more pleasant experience for both customers and employees.

Use analytics for marketing: One of the best things about using a magnetic stripe card reader is being able to collect and store data from customers. When customers swipe their card, the magnetic stripe reader will take information from the card, like demographics, that can then be used for marketing purposes. When companies know more about their customers, like which area they’re from and even their contact information, they can better market their products towards the customers’ liking. Future marketing campaigns can use this information to keep current customers and even attract new ones.

Overall, card readers can increase the ease and convenience of making transactions, making the purchasing process more pleasant for everyone involved. With these devices, companies are sure to bring in new customers and keep current customers coming back.