One innovation that has changed over the course of time in the business industry, is the payment method systems that businesses once used for capturing payments. In the old days, payments were tracked and captured through the chip and pin system, normally consisting of a machine that reads your debit or credit card and processes the payments, also known as a POS system (point of sale system).
The machines, commonly would have a few thick wires connected to your register till, monitor and a computer. During these phases, businesses were able to capture payments only through means of either taking cash on the spot of the sale, processing a debit or credit card and were limited to the grounds of their business only. If a client paid with a check, you would require a few days before it’s cleared by the receiving bank.
If your client paid with a debit card or credit card, time is still required in order that all banks and merchants verify and give clearance to such transaction. Regardless of which method of payment a business decides to leap for, it was always a common factor that transaction of payments required time for validation and verification.
This alone was a standing problem that limited business owners in other financial opportunities. In this post, we will be discussing about the new technology implementation, and how the modern businessmen should consider technology devices to conduct sales and capture payments, in order to attain sufficient and reliable payment systems.
Before we can highlight the major factors about iZettle, we first must understand what an on-line credit card, debit card transaction really is.
An online credit card or debit card payment is a payment transaction that is conducted via online (using the internet) in which is backed by banks and a merchant, all in a secure platform.
Use of a credit card is commonly backed by the customer’s bank, normally a specific daily limitations are set. The use of a debit card are financial assets utilized directly from the users’ account (you can only spend what you have deposited in your debit account only and a small processing fee is charged per transaction.)
Both of these cards can be used to process payments on ecommerce websites, such as Amazon. In most cases, you would be required to authorize the bank to make your online transactions validated and active, so you can conduct payments via online.
The big problem here is that not all your customers have access to a computer, not all customers even use an online transactions due to the cyber-security level breech that tends to happen each year. Most of the customers whom have a debit card or a credit card are well aware of the fact that there are certain limitations as per to how much can be done in a single day.
This method of payment system suggests two major common problems for both the consumer / user and the business or company. The first major issue is that the business is “grounded”, meaning that it is limited to where they can conduct business in.
The second major issue is that since businesses are limited, they are most likely to miss out on new potential sales and are likely to receive payments frequently late, due to the poor flexibility that their payment system offers.
As far as a customer point of view, since they are limited as per to when they can conduct an online payment, most of the time they are steered towards other businesses that offers easy gateway payment terminals. If a customer is informed about the limited platform that your business offers, a high possible chance that the customer loses interest and may never come back to your business again.
Imagine that your business becomes much more sufficient in terms of sales data processing and validating, sales being produced more frequently and capping no-limits to the daily possible transactions that one single business may be potential to do. In order to obtain this level of sufficiency, you would require the ultimate payment solution. Thanks to technology, a technology of that level of caliber actually exists! Image an entire EPOS system integrated to a small-slick handheld, credit-card and debit-card like-device. A device like that is known as the iZettle.
The iZettle was formally coined by Wireless Terminal Solutions who specialized in B2B, B2C POC systems for businesses from around the world. Currently the iZettle is a device in which is dedicated for the users of United Kingdom. However, iZettle is said to reach a global scale soon, making the new payment device-system available to the world!
For starters, the iZettle offers great flexibility. Now you can process payments even as early as before the business opens or long after the business closes for the day. There is no limitations as per to when or how many transactions can be conducted within a day, apart from the limitations that you set yourself!
The iZettle also offers the flexibility to connect wirelessly to your smart tablet or smart phone, giving you a bigger ground to conduct sales in.
One of the most major innovated feature that iZettle has is that it’s portable! So now, if you are going to the expo show or conducting a fund raising event, with the iZettle you have the flexibility to charge and capture payments at any time, without ever missing another sale again!
All business professions are welcomed! We invite all of the UK regions to inquire with us and even test our newly improved and improvised method to capture and verify payments. Contact Hire Laptops for further details about how you can rent the best trending payment-machine in the market today!