Did you know there really is a difference between a credit card reader and a credit card machine? Many business owners make the mistake of assuming that these two pieces of equipment are the same. The differences in these machines and their functionality can make a significant difference in the way that your business processes payments and the fees that you pay to do so. Making the right choice for your laundromat can save you time and money. If you're interested in laundromat investing in NC, call T & L! We'll show you the ropes!
Mobile Credit Card Readers
One of the most popular options for accepting credit and debit card payments today is a mobile credit card reader. These small and convenient battery operated readers can be used with virtually any tablet or smartphone. With the installation of an app on your smart device and the purchase of the reader, your business is ready to take payments in just a few short minutes. There are advantages to using these machines that make them a more economical choice for a new business just starting out.
These benefits include:
- Low per swipe transaction fees
- No setup or monthly fees
- Accept payments anywhere - ideal for a wash, dry, fold service that offers delivery
- Able to be used anywhere your device has WiFi or cell signal
Traditional Credit Card Reader
One major drawback to these systems includes the lease or purchase of the terminal. If your business doesn't already have a point of sale (POS) system, you will need one in order to use a traditional machine. This means that you'll be spending a significant amount of money upfront to utilize a conventional terminal system. However, the upfront fees and monthly costs can be outweighed by several key features that are not offered by mobile credit card readers.
These features include:
- Online order placement and payment
- Ability to key in customer card information over the phone
- Processing of gift cards and checks depending on the terminal system
- Low per purchase transaction fee
Evaluating both systems thoroughly before purchasing is crucial. Getting stuck with a credit card terminal that limits your laundromat's ability to take payments in the field from customers may not be the best choice. However, not having a system in place that lets your customers place and pay for their wash, dry, fold orders online can be problematic as well. Make a list of the functionality that your business needs when it comes to accepting credit or debit card payments and talk with various credit card processing services. Once you find a service that offers all the features you need, be sure to ask about their per transaction fee. These fees can range from as low as .19% of the total purchase price to as high as 3.25% of the total the card is swiped for.
Laundromat Investing in NC
T & L Laundry Equipment has been committed to helping our customers get the right equipment for their laundromat or commercial laundry for more than 40 years. Our team knows what it takes to make your business succeed in today's highly competitive market. Choosing the right laundry equipment vendor is about more than price. Experience the T & L difference for yourself and learn why more laundromat owners are choosing us to be a partner in their success. Call or come by the showroom today to put our team to work for you!