Is a debit card machine right for your business?

If you’re unsure about getting a debit card machine, you may well be looking at whether it is right for your business.

Getting a debit card machine allows you to process payments in a different way than taking cash. It does have it’s drawbacks – mainly the cost of purchasing one, transaction fees and needing a merchant account.

So how do you know if a debit card machine is right for your business? Here are some things to consider,

Have customers been asking for alternative payment methods?

A lot of businesses take direction from what their customers want. If you have had a lot of regular customers asking you for a debit card machine to make payments with, then it might be a good idea to get one.

Your regular customers may see this as a sign that they are valued and listened to. They may well become more loyal and brand advocates. They may also shop more with you, putting more money into your business.

A lot of successful businesses act when their customers ask for things to be implemented.

Are you a market trader, looking to gain an advantage?

Do you regularly trade? If so you might be looking at ways of gaining advantage over other stallholders. If not many of them take debit card payments, then it might be worth considering getting a debit card machine.

This would mean that people who don’t carry a lot of cash will be able to shop at your stall/booth without having to worry that they might not have enough money to buy things with you.

Do you want to start selling online or over the phone?

Have you thought recently about expanding your business into the online space, or taking payments over the phone? One way to do this is getting a debit card machine.

This would allow you to take payments without the customer being there physically and for that, you’ll need alternative ways of taking payments.

Do you have a fixed location for your business?

Do you trade from a fixed location (shop)? If so, you may want to consider taking card payments as the next logical step in growing your business.

Customers will see it as a sign that your business is growing and improving, and be more willing to spend money with you.

Are there ATMs close to your trading location?

If you trade from a location that has an ATM attached then you might be thinking there isn’t a need for a debit card machine.

However, consider that this may mean your customer coming to the till with items, realising that they can’t pay, having to go outside to the ATM (in the cold, rain, whatever weather conditions are present). Or worse, having to go down the street to get money out.

Most customers wouldn’t bother doing that, so it might be time to get a debit card machine to help them out.

Are rival businesses taking card payments?

Perhaps you’re looking at rival businesses and what they do, or thinking about how to overtake them. One way is to get a debit card machine and create a buzz about being able to take card payments. This might give you a head start over a rival business.

As you can see, there are lots of reasons to consider whether a debit card machine is right for your business. If you’re still unsure, why not contact us?