It is now inconceivable to lose customers for lack of tools to accept bank cards. Indeed, these means of payment are often preferred by consumers. You also have a wide choice of devices to read the cards. Thus, the electronic payment terminal (TPE) is essential in a business. You just need to choose the best solution for your business.
A payment terminal: what does that mean exactly?
For find the best payment terminal of the market, it is worth returning to the usefulness and operation of this type of device. A TPE is basically used to process credit card payments. Therefore, it is also called a CB reader. The ideal would be to choose a payment terminal without commission, commitment or network restrictions. However, the situation is more complicated in practice.
In its basic version, the TPE makes it possible to accept a transaction after inserting the bank card and the associated PIN code. Some models also allow contactless payment. The customer can then pay by simply placing their card on the terminal, without having to enter their confidential code. This feature is particularly appreciated for its convenience and security.
Contactless also makes it possible to avoid various inconveniences such as waiting at the checkout, code errors, blocked cards, etc. Consequently, it is often recommended to choose a terminal compatible with this payment method. The option is actually advantageous for customers and traders. In addition, it helps to significantly improve the payment experience and the purchase journey.
What is the best TPE?
the best payment terminal corresponds to the most effective, least restrictive and most profitable solution. In other words, you must analyze the performance, connectivity, compatibility level and price of the device under consideration. There are currently different categories of equipment on the market, namely:
- The TPE CB (credit card machine), with screen, keyboard and printer to issue receipts;
- The Pinpad, requiring a separate printer for receipts;
- The cash register, equipped with a screen, a scanner (handheld), a payment terminal and a printer.
The cash register differs from a basic TPE in its payment processing capacity. It is suitable for businesses regularly dealing with large average baskets (more than 10 items). In general, this type of tool is connected to other terminals via an internal network. You will be able to centralize the management of your cash registers on a single workstation or dashboard.
The most efficient TPE solutions can be linked to your inventory management tools, your professional account, your CRM, etc. You can then organize your inventory, your customer files and your accounting. However, these devices tend to be expensive and sedentary. They also require a complete ecosystem to be efficient and profitable. Conversely, the Pinpad is more affordable, lightweight, and easy to use. You only need to check the functions, the connectivity and the compatible cards (Visa, MasterCard, American Express, etc.).
Where to get one?
You can get you the best payment terminal with a wide variety of interlocutors. However, the supplier determines the services offered, the cost of the service and the types of TPE that can be envisaged. Ultimately, this factor will identify the most suitable solution for your business and your structure. It is above all a question of finding the choice combining practicality and profitability.
Bank terminals eliminate, for example, the issue of compatibility between the TPE and the current account, credit cards, the monitoring tool… On the other hand, they involve various costs that disappear in the long list of services provided on a daily basis. In addition, the equipment available is often designed for the brand’s preferred businesses. You therefore risk ending up with devices that are unsuitable for the number of customers and the nature of your business.
For their part, Fintechs generally offer a rich catalog and more transparent prices. Prices are also more affordable with fixed commissions. The calculation is less obvious with subscriptions coupled with differentiated tariffs for the cards of each network. Overall, these players nevertheless remain more profitable for small structures. That said, they are sometimes penalized by the lack of functionality and compatibility of TPEs.