Why failing to accept card payments could do serious damage to your small business

As a small business, your ability to accept credit card payments is your gateway into accessing the custom of the majority of British shoppers and those seeking your services. As we move further away from cash and closer to card and contactless payments as a society, your ability to accept payments this way is vital to business success. But what happens when your outdated card machines suddenly fail?

Reports of less modern card machines failing due to circumstances outside the users’ control are appearing regularly, with external accidents interfering with internet or phone connections being a common culprit. To make matters worse, these issues often take days or even weeks to fix.

If your small business is still reliant on card machines that are connected to your business bank account via a phoneline or ethernet cable, you may want to consider switching to a more up-to-date, contactless and mobile card machine to take credit card payments. Here’s why…

The consequences of your old card machines going down

The consequences of your old card machines going down

Lack of payments from debit cards and credit cards

An obvious point, but important nonetheless. If an external fault causes your card machines to fail and you’re left without the ability to accept card payments from your customers, you will lose significant takings until the fault is fixed.

Larger businesses may see this loss as a drop in the ocean - something they can easily recoup later down the line - but as a small business, your daily takings may be the difference between managing your business successfully and failing to make basic payments to cover your expenses. In other words, you may not be able to afford several days without accepting card payments, or maybe even a single day.

But card machine solutions like the Saturn Android Smart Terminal can solve this issue. Should an external fault cause your internet and phone lines to go down, rendering many card machines useless, the Saturn Android Smart Terminal is still able to accept card payments via a 4G mobile data signal - identical to the signal featured in countless smartphones. Having the ability to remain connected to your merchant accounts at all times means you’ll never miss payments due to unforeseen circumstances affecting your phone and internet connections, so you can carry on as normal and continue making profits.

Losing customers

With over 90% of British retail spending now made via card payments, according to data from theBritish Retail Consortium, it is clear that almost all modern consumers prefer paying for goods and services with a credit card or debit card. This can be done by using the card in chip and pin payments, contactless card payments or using a mobile device connected to a service like Apple Pay or Google Pay.

If you’re suddenly unable to accept card payments in this manner, you may leave your customers frustrated and with a bitter taste in their mouth in regards to their opinion of your business. This may not be as likely with regular customers who trust you and have faith you will repair the problem, but newer customers who are just beginning to warm to you and your services - or customers you have only just met for the first time - may not be so forgiving.

As a result, they may take their customer elsewhere, having lost faith in your ability to accept card payments consistently. But with a tool like the Saturn Android Smart Terminal, you’ll always be able to accept card payments - even in the event of a technical connection fault - via mobile data, meaning you’re far more likely to retain new customers and keep growing your business. 

Consider upgrading to the Saturn Android Smart Terminal

Why failing to accept card payments could do serious damage to your small business

The Saturn Android Smart Terminal is the ideal option for businesses seeking to maximise revenue from customers via card payments and contactless card payments. Not only can it continue to operate using a 4G signal, but it is also home to several apps small businesses can use to help run their day-to-day operations. 

This includes apps to assist with such things as:

  • How to accept card payments online
  • Delivery management
  • Stock management
  • Accounts keeping
  • Business financial and legal advice

…and more. So if you’re tired of using the same old card machines that keep failing or don’t offer the advantages you need to grow your business at a consistent pace, consider Handepay and the Saturn Android Smart Terminal.

Reach out to Handepay for all your card machine needs

At Handepay, we’re the experts on all things card machines, card payments and online payments, and have been helping businesses just like yours make the most of card payments, contactless card payments, merchant accounts and so much more. If you’re interested in upgrading your card payment systems, or want to explore accepting credit or debit cards in your business for the first time, speak to a member of the Handepay team today.

Financial disclaimer:

Terminal hire contracts are provided by Merchant Rentals Limited, who is authorised and regulated in the UK by the Financial Conduct Authority (FCA) for Consumer Hire under FRN 720500. Terminal hire can be for consumer hire and non-regulated hire contracts. Please check your contract carefully for details. Regulation of all consumer hire fall under the control of the FCA.

Handepay Ltd is authorised and regulated by the FCA for Consumer Credit under FRN 673564. Handepay is a credit broker for consumer hire not a lender.

Handepay acts as an introducer of card acquiring services on behalf of EVO Payments UK, the card acquiring service provider. EVO Payments UK is the trading name of EVO Payments UK Ltd, a payment institution that is authorised and regulated by the Financial Conduct Authority (FRN number 959332).

Existing Cards Businesses- The one-month rolling terminal hire contract from Merchant Rentals is only available to businesses that are switching from their current acquirer to EVO Payments UK arranged through Handepay.

New to Cards Businesses- The 12-month terminal hire contract from Merchant Rentals is only available to businesses that are new to card payments and wish to receive acquiring services from EVO Payments UK, arranged through Handepay.

The Next Day Banking Settlement service provided by EVO Payments UK incurs an additional fee of £4 a month on top of your acquiring service charges and fees. Provided your card machine performs a reconciliation before 12am (midnight), you’ll receive settlement of funds the next banking day.

Editorial disclaimer:

The information we provide does not constitute financial advice and might not apply to your business. Always carry out research into your business’ needs when choosing a new merchant services provider.

Sometimes, we link to other third-party websites to provide you with additional information. At the time of publication, we consider the information accurate, however, we do not have control over their content and are not responsible if any information on these websites change.

The products we display on our website are for illustrative purposes only - if your business requires additional facilities, you may receive a different model than advertised.

All of the information contained on this website, including fees, services and functionality, are correct at time of publishing. E&OE.