If you own a small business, you may be looking for ways to accept credit card payments without having to pay high fees for a credit card processing machine. Fortunately, there are a variety of free credit card processing options available that can help you save money while still providing a convenient payment method for your customers. In this article, we’ll discuss the ultimate guide to free credit card processing machines, including their benefits, drawbacks, and how to choose the best one for your business.
Benefits of Using Free Credit Card Processing Machines
Free credit card processing machines can offer several benefits for small businesses, including:
- Cost Savings: By choosing a free credit card processing machine, you can save money on upfront costs and ongoing fees associated with traditional credit card processing machines.
- Convenience: Credit card payments are a convenient way for customers to pay, and by accepting them, you can improve their overall shopping experience.
- Increased Sales: Accepting credit cards can increase your sales potential, as customers may be more likely to make a purchase if they can pay with a credit card.
Drawbacks of Using Free Credit Card Processing Machines
While free credit card processing machines can offer several benefits, there are also some drawbacks to consider, including:
- Limited Features: Free credit card processing machines may not offer all the features and capabilities of traditional credit card processing machines, such as the ability to accept mobile payments or process chip-enabled cards.
- Transaction Fees: While there may be no upfront cost to use a free credit card processing machine, some providers may charge transaction fees, which can add up over time.
- Compatibility: Not all free credit card processing machines may be compatible with your existing point of sale system or other business tools, which can be a drawback if you need to upgrade your technology.
How to Choose the Best Free Credit Card Processing Machine
When choosing a free credit card processing machine, consider the following factors:
- Compatibility: Ensure that the processing machine is compatible with your existing point of sale system or other business tools.
- Transaction Fees: Look for a provider that offers low or no transaction fees to help you save money in the long run.
- Features: Consider the features and capabilities of the machine, such as the ability to accept chip-enabled cards or mobile payments, and choose one that meets your needs.
Top Free Credit Card Processing Machines
- Square: Square offers a free credit card processing machine, the Square Reader, which allows you to accept credit card payments on your smartphone or tablet. Square charges a flat fee of 2.6% + 10 cents per transaction.
- PayPal Here: PayPal Here offers a free credit card processing machine that connects to your smartphone or tablet via Bluetooth. PayPal Here charges a flat fee of 2.7% per transaction.
- SumUp: SumUp offers a free credit card processing machine that connects to your smartphone or tablet via Bluetooth. SumUp charges a flat fee of 2.75% per transaction.
Conclusion:
Free credit card processing machines can be a great option for small businesses looking to save money on credit card processing fees. When choosing a provider, consider the compatibility, transaction fees, and features of the machine to ensure that it meets your business’s needs. With the right free credit card processing machine, you can offer a convenient payment method for your customers while also keeping your costs low.