Card readers are tools that allow you to extract data from a variety of sources, including credit cards, debit cards, and identification cards. As cashless payments are becoming more popular nowadays, your business has to look into using card readers. With card scanning devices and software, you provide customers with a seamless and secure way to make purchases. Other than that, you can also use these tools to verify the identities of potential employees. However, card readers come in many different forms and types. If you are not sure which ones to get for your business, check out this list of the most common types of card readers below.
1. Tabletop Card Readers
This is the most common type of card reader. You can find it anywhere, from convenience stores to pharmacies. Customers who prefer to pay using a credit card can just swipe their cards on these devices and key in their personal identification numbers to pay for their purchases. These types of card readers are ideal for businesses that involve queuing.
2. Wireless Card Readers
Restaurants often use wireless card readers. These devices require a Wi-Fi or GPRS connection to work, allowing you to accept payment where the customer is located. Wireless card readers are highly convenient, so it’s a common sight in taxis and kiosks. However, this type of card reader is prone to hacking if you don’t have a secure connection on-site. Make sure to check with your credit card processing company if there are more secure solutions available.
3. Payment Gateways
Both tabletop and wireless card readers require customers to be physically present. As e-commerce continues to grow in popularity, businesses are making it easier for customers to pay for goods and services remotely. Many of these companies set up payment gateways that allow customers to type in their card details securely.
Taking the form of a virtual payment terminal, this method is commonly used in airline companies, hotels, and businesses that sell services. It also works well if you have an online store that takes both credit and debit options.
4. Card Scanning Apps
As a more advanced type of card reading technology, these tools involve using a camera to scan a card and extract information from it in real-time. Using an AI algorithm, card scanning apps are capable of reading what is written or embedded on a card. That way, customers won’t need to input their card information manually. All they need is to download a card scanning app and use their phone’s camera to instantly capture their name, card number, expiration date, and CV/CVV codes.
In addition to easing payment processes, card scanning apps can also help with identity verification and fraud prevention. Law enforcers, for instance, can use a driver license scanner to check if a motorist is driving on an expired or fake license. In the same way, you can use this technology for conducting accurate background checks.
To know which card reader is worth spending on, examine our list to find the tool that suits you best. In the long run, your business can benefit a lot from having such tools in tow.
