In today’s technological era people do not carry cash around with them anymore and business owners have to be able to accept electronic payments so as keep the business going and to ensure the comfort of the customer. The latest mobile credit card machines
are not bound by wires anymore. At present, most merchants use wireless terminals and the benefits of such technology are easy to notice. The internet has certainly facilitated the way in which people interconnect and the way in which business is done at present.
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Owing to the use of portable terminals, merchants can take them anywhere with them and realize transactions, thus ensuring the flexibility of the business. They offer exactly the same advantages as countertop devices, the only difference being that they do not function with the help of the computer and is instead connected to a wireless network. What happens is that the card passes through a wireless terminal that passes on the card information to the merchant account and the buyer has to receive authorisation for the transaction. The grant on the authorisation is based on the funds that the customer has available in his bank account.
The transaction goes a lot much faster than a land-line terminal and the major benefit is the fact that the seller can go after the customer anywhere in the store and process payments due to the fact that the device is not linked to a power source. Moreover, in the case of a power blackout, the terminal will still function. The current devices are so complex that they combine the technology of cellular phones, PDAs and points-of –sale. The typical reader communicates with the bank through the intermediary of a modem. Wireless readers use network connections such as CDMA or GPRS, while others are virtually connected to cell phones.
Advantages for users
The main advantage is the fact that customers do not have to carry money around with them all the time and they do not have to make regular trips to the bank in order to get money. Another advantage is that they do not have to stay in line in order to swipe the card. In addition to this, small businesses and companies are given liberty to do business in the rural area where there are not that many electronic systems implemented, if not any. Businessmen are also forced to do many transactions while travelling.
In conclusion, it cannot be denied that the convenience offered by wireless readers plays an important part in the marketplace. No matter the type of terminal chosen, it is obvious that electronic payment is the way of the future and that there is a type of reader specially created for the specific needs of every client.