Regardless of the size of your business, chip and pin machines are essential for processing credit card payments securely. Your choice of chip and card machine directly impacts the level of security it provides. So, it’s important to choose the best chip and pin machine for business. The first thing you should learn about chip and pin machines is what they are and how they work.
The chip and pin machine are a point-of-sale (POS) terminal that accepts debit and credit card payments. They have a card reader (chip and PIN) that reads the card’s chip on the back and asks users to enter their PIN code as proof of identity. Chip-and-PIN card is remarkably like using the more traditional magnetic stripe cards from the customer’s standpoint. For the merchant’s point of sale (POS) terminal to scan the card’s microchip during a transaction, chip-and-pin cardholders must insert their cards into the terminal. To complete the transaction, the POS terminal asks the user to enter their PIN and the card reader will send the data collected from chip to card holders bank for approval.
Top chip and pin machine providers in the UK
Now that you are aware of what a chip and pin card reader is and how it operates, you may pick one for your business. But which card machine provider dominates the UK market? Here are our top recommendations for UK chip and card machine suppliers.
UTP
You will be familiar with the name UTP if you conduct research on the leading chip and pin card service providers in the UK market. In the UK, UTP is one of the market leaders in the chip and pin card reader sector. The UTP card reader machine comes with the best security features. Because of their PCI-certified encryption and adherence to international regulations, their chip and pin card readers are among the most secure devices on the market. Some of the biggest companies in the UK rely on their chip and pin credit card machines because of its dependability, security, and ease of use.
One of the largest financial organisations in the UK, Barclaycard Payment Acceptance, is a partner of UTP. UTP setup process includes opening a Barclaycard Payment Acceptance merchant account for you. Your merchant account information will already be pre-configured on the chip and pin card reader. Your chosen bank account will normally receive payment for credit card transactions handled through your merchant account within two to three business days. If you use UTP’s Faster Processing service, money can be credited to the bank account of your choice within hours as opposed to days. Contactless payments are also supported by all UTP devices, allowing businesses to accept payments from customers using contactless technology.
UTP offers some of the lowest transaction rates in the market, and their rates and fees are adjusted based on the needs and business of the merchant. Their committed Helpdesk team in the UK and has experience with remote chip and pin card machine troubleshooting. They are available to customers whenever customer need assistance. It is also possible to receive pre-authorizations, gratuities, and price breaks using the UTP chip and pin card readers.
Square
The Square chip and pin reader accepts payments made using EMV and NFC. This Square chip and pin reader supports NFC services including Apple Pay, Google Pay, and NFC-enabled credit and debit cards. With an average rating of four or higher out of five from customers, Square Chip and Pin Card Machines stand out in the field of service provision. The Square chip and pin Reader is an excellent entry-level tool for many small company owners. Ordering a Square Reader straight from the Square website is the simplest method to obtain one. It typically takes five to seven business days to arrive.
SumUp
A free, included SumUp Business Account lets you enjoy faster payouts with a SumUp Air card reader. Additionally, you have the option of making limitless free bank transfers for both incoming and outgoing payments, as well as sending and receiving money instantaneously to UK bank accounts. SumUp Air card readers don’t require contracts, paperwork, or additional fees. Every time a transaction is made, only a 1.69% fee will be applied to your account. SumUp believes in simplicity. All Their goods and services are therefore simple to set up and even simpler to use. SumUp Air is a lightweight portable card reader that can help you stay mobile in business. It follows you everywhere.
Dojo Go
Dojo Go card reader machine is an option for businesses searching for a card reader with short-term contracts. Dojo Go won’t bind you to a contract for years because the minimal contract lengths begin at one month. Dojo Go, is a cutting-edge card reader with the capacity to advance your organisation. It’s as portable as an iPad, with mobile connectivity, and a 10-hour battery life. Customers credit card information is always secure with point-to-point encryption built into the Dojo Go, which also protects revenue. There are only two seconds between you and a new satisfied customer when you use Dojo Go to process card payments, which is 80% faster than the industry standard.
Revolut Reader
The Revolut card reader machine is another important card reader available on the UK market. Revolut Reader processes payments in under five seconds, regardless of how consumers pay. Having shorter wait times for customers enhances both customer satisfaction and revenue. The funds will be deposited into your merchant account within 24 hours after the payment has been completed. Utilising the Revolut Reader, you can create a catalogue of all your products to process consumer carts more quickly. This catalogue is available for free within the Revolut Business app.
Benefits of using a chip and pin machine for business
Accepting credit card payments is a necessity for businesses around the globe. In order to do that, you need to use a chip and pin card machine. In addition to accepting card payments, what benefits can you gain from using a chip-and-pin machine?
A chip and pin card machine allows customers to pay faster and reduces long lines at checkout counters. You can study and choose a chip and pin card machine that suits your business. It can help you manage inventory, collect data, and improve customer service across a variety of areas of your business. As a result, it boosts productivity and improves your profits.