Electronic payment terminals are the perfect tools for customers to pay you by credit card. Indeed, it is a method of payment widely used by the French. It is also well appreciated because it offers important security for the consumer: it no longer has to carry a lot of money on it, it can quickly object if it is stolen its card and it can save time thanks to contactless payment.
For their part, merchants appreciate this payment method: the money has immediately arrived in the account, they have less money in cash and they are sure to receive the money.
First, there are two types of TPE: the bank's TPE and the independent company-designed TPE, such as SumUp, iZettle, Smile and Pay and myPOS. We will discuss them because we tested them on this website.
These TPEs can work in two different ways: by being connected to Wi-Fi or 3G with the presence of a built-in SIM card (you won't have to pay for data), or by being connected via Bluetooth to the phone.
At the time of payment, depending on the product you have, two ways to cash in money are available:
You have a specific device like the SumUp Air and the iZettle Reader 2,you can use the mobile app to cash in. The latter is equipped with a catalogue of articles. Simply select the products that the customer buys (a bit like a cash register software), you will have an amount displayed in the basket, and then they can present their credit card to pay what they owe you.
You have a classic device that isn't connected to a mobile app, or it's not as complete and doesn't have the “Catalogue” feature. In this case, just enter the payment amount manually. And the customer only has to present his bank card to pay you.
With these TPEs, the customer can pay in four ways:
By inserting the bank card with the chip into the bank card reader. He will be asked for his code, and he will receive a receipt by email or SMS. If the TPE is equipped with a printer, it can receive the receipt in paper format.
Using, if the TPE is equipped with it, the magnetic stripe on the side of the case. Fewer and fewer payment terminals are using this system.
Contactless payment if the credit card is compatible. It has an NFC chip, the customer places its card on the case, and the card accepts payment. There is no need to indicate a code. On the other hand, it is possible that a maximum amount will be present (20 or 30 euros depending on the banks). This is to limit the risk of theft and loss.
With your smartphone or smartwatch. By adding the credit card to the phone equipped with an NFC chip,the customer will only have to put the phone on the bank card reader and it will work automatically.
Cashing in with an electronic payment terminal is a breeze. You will have no difficulty doing so.
About Vincent Ricard
Entrepreneur, geek and blogger. Vincent is the author of the afscm.org website dedicated to payment solutions for small and large businesses. Discover his analyzes of the latest payment terminals.
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