Latest Payment Technologies

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Payment technologies have come on a lot over the past year or so, particularly when it comes to small businesses. For many years small mobile businesses were forced to take cash payments. This led to many embarrassing situations with people scrambling down the back of the couch for loose change and having to drive to cash machines. However tech advancements in the past year or so have opened up the possibility of these businesses taking card payments for the first time.

Mobile chip and PIN machines which work with your mobile phone are now available in the UK. They work with an app on your phone allowing you to take payments anywhere you can get a phone signal. That means small businesses can take payments on card when they are on the road. Businesses such as taxi drivers and tradesmen can benefit.

The card machines are around £100 at the minute and the only other charge is a transaction charge which is around 2.75%. There are many machines available with some of the biggest companies in payments offering mobile chip and PIN readers for instance Worldpay and Paypal. There are also several new entrants on the market for instance iZettle and Payleven.

If you are a small business who wants to improve customer service and increase sales it is well worth looking at a mobile chip and PIN machine. They are available in the UK and several other countries. They make taking payments easier and some come with additional facilities such as the ability to take payments over the phone and taking cash payments.

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