You know that tried and true credit card terminal that has been sitting by your register for years? It’s the same credit card terminal you and your employees use every day. The one that has never faltered or required maintenance. The one you rarely, if ever, think about… yeah, that one! At some point, you will need to upgrade it. Replace it with a newer, better, or different credit card terminal. There are four signs you should look out for to tell you when it is time to upgrade your credit card terminal.
This might be obvious, but it’s true. Eventually, everything breaks. Sometimes, a credit card terminal can be fixed; sometimes, it can’t. While it is possible that the card reader on the terminal stops working or the POS pin pad is malfunctioning, you could continue to use it by entering credit cards manually. However, that is not a good long-term solution. It’s better to bite the bullet and get a new one, which can be a blessing in disguise. Depending on how old your current one is, you could get new features like Apple Pay and Android Pay. An upgrade will provide a better service for your customers.
It Hits “End Of Life”
Your credit card terminal did it; it outlived everyone’s expectations, even its manufacturer’s. When this happens, the manufacturer sends an End of Life notice to all the Merchant Account Dealers. This End of Life notice will detail all the affected models and issue a drop-dead date. This is when the manufacturer will shut down the server for the select models, and all of them will no longer function. The End of Life notice will give you several months to upgrade your credit card terminal before the drop-dead date hits. When that notice comes, don’t procrastinate too long, or you could find that your credit card terminal has turned into a new paperweight.
It Does Not Do Cash Discounting
You’re fed up with all the merchant processing fees and are ready to pass them along to the customers. When that happens, some new calculations will need to take place. They could be done by hand, but that’s asking a lot from your employees. Your POS system may be able to handle it, but if it can’t, the best solution is to get a credit card terminal that can handle cash discounting. Some terminals can handle all the calculations internally, requiring nothing more from you other than an upgrade from your old terminal. You can learn more about Cash Discounting Here.
It Is Not a Wireless Terminal
You’re ready to cut the cord and add mobility to your credit card terminal. You want to be able to take payments out on the showroom floor or in the dining room. Your old credit card terminal can’t do that, so you will need to upgrade to a new wireless credit card terminal. Wireless credit card terminals have stands or power cords to charge their batteries, allowing them to charge by the POS station. A strong Wi-Fi network is needed for wireless credit card terminals.
When the time comes to replace the old credit card terminal, even if you’re not ready, contact Total Merchant Supply. We can help you switch to a better credit card terminal with features to improve your business.