Fact: having a poor checkout experience is costing you customers. Research by Forrester found that 85% of consumers feel that the checkout process is important or very important to their shopping experience, and more than half (58%) will switch stores if the competitor’s checkout experience is better.
Suffice it to say that having a solid checkout system in your business can help you stay competitive. You need to invest in the right solutions to ensure that shoppers have the most convenient experience possible.
This is where wireless credit card processing comes in.
Today wireless credit card processing, and their innovative processing machines, have given mobile merchants access to the same credit card networks as retail businesses. Wireless payment technology allows merchants to handle credit cards, as well as cash and checks, without sacrificing security. It also leads to faster processing times, compared to traditional landline processing, and the ability to process secure transactions through wireless terminals from virtually anywhere and at any time.
All that results in a faster and smoother checkout experience for your customers.
But how exactly does the technology works? To shed light on this, we’ve put together a detailed guide to wireless credit card processing and how to implement it in your business. Let’s dive in.
How Wireless Processing Works
There are multiple wireless credit card processing types: credit cards and debit cards, key fobs, smart cards, or other devices, including smartphones and other mobile devices, that use radio-frequency identification (RFID) or near field communication (NFC). Samsung Pay, Apple Pay, Google Pay, Fitbit Pay, or any bank mobile application that supports contactless) for making secure payments can be used in this case.
Here’s an overview of how wireless credit card processing works:
- The merchant slides the customer’s card through a wireless credit card machine and enters the sale amount. Similar to cellular technology, the terminal connects to a radio tower and sends the credit card information (securely) and the amount of the purchase over to the merchant services provider, like Stax.
- The merchant services provider then passes this information to the bank that issued the customer’s credit card (issuing bank). They check to see if the card is valid. If the amount requested is available on the card, it sets aside the amount of the purchase for the merchant.
- The issuing bank sends back an approval or decline message to the merchant services provider.
- The transaction information is sent back to the mobile credit card machine. It only takes about 10 seconds to complete the transaction (depending on coverage and network).
- At the end of the day, the merchant manually or automatically “settles” their terminal batches and this begins the final step in the transaction process. Once the settlement process begins, the funds are transferred from the issuing bank and deposited into the merchant’s account.
What is the Difference Between Wireless Credit Card Processing vs Mobile Credit Card Processing
While both payment processing solutions allow merchants to untether the checkout experience, there are some key differences between wireless and mobile credit card processing. Wireless processing involves a wireless credit card terminal, a keypad, and a display screen. Wireless terminals can print paper receipts, and do not require a direct hookup to a phone line or Internet connection, but they instead work independently, and hence, wirelessly to accept credit cards at various locations. This method of processing is widely used in service industries, such as delivery, repair, and taxi driving. Basically anywhere that employees need to process credit cards from a customer’s home or outside of a physical store.
Mobile credit card processing allows merchants to accept credit and debit cards through their cell phone, and can send the customers a text or email receipt. Sometimes this involves an app from the processor or a piece of equipment that attaches to the phone. The technical aspects of this method are usually varied depending on your mobile credit card processor.
A Closer Look at Wireless Credit Card Machines
Wireless credit card processing won’t work without the right equipment, which is why it’s worth exploring the different wireless credit card terminals in the market. These credit card machines function the same way as countertop terminals. The main difference is that they don’t have to be plugged into a power source. Most wireless payment terminals can connect to your WiFi network or come with a monthly SIM plan that can connect to 3G and 4G networks.
Some of the most popular wireless credit card readers and machines include:
PAX A920 – The A920 is a wireless payment terminal that enables you to accept all payment types including credit cards and mobile payments. It comes with a touchscreen display, integrated cameral, and high-speed thermal printer. Powered by an Android operating system, the A920’s sleek and compact design makes it ideal for all types of merchants, particularly those in the retail and hospitality space.
Dejavoo Z9 – The Z9 wireless terminal offers a large flat screen with wide keys, making it easy to take payments even when you’re not behind the counter. The device has EMV and NFC contactless built-in, and supports both traditional methods (i.e., debit and credit card payments) as well as mobile and contactless payment options like Apple Pay, Samsung Pay, Visa payWave, MasterCard PayPass.
How Easy is it For Me to Add to My Business?
With Stax it’s very easy to add a wireless payment system to your business. Virtually all business owners can benefit from a wireless credit card machine, but those who have mobile businesses that spend a lot of time outside of the office truly see the benefit. Outdoor venues, trade shows, sporting events, food trucks, markets, and customers’ homes are among some business types in which traditional connectivity poses a huge issue.
Wireless terminals are flexible, reduce operating expenses, and save you time. They deliver the same security, flexibility, and reliability as any other processing solution, so you can process payments wherever and whenever the opportunity arises.
Now is the perfect time to add contactless payment solutions to your business. Having all the tools and features your business needs under one platform helps eliminate added costs that result from using multiple payment processing providers.
Learn more about contactless payments and find out how your business can easily adapt to a contact-free environment with Stax.
FAQs about Wireless Credit Card Processing
Q: What is wireless credit card processing?
Wireless credit card processing allows merchants to process credit card payments via wireless terminals from virtually anywhere and at any time. This technology leads to faster processing times and provides a secure method for handling credit cards, cash, and checks without compromising security.
Q: How does wireless credit card processing work?
The terminal connects to a radio tower when a merchant slides the customer’s card through a wireless credit card machine and enters the sale amount. It securely sends the credit card information and the purchase amount to the merchant services provider. This information is then passed on to the issuing bank for validation. Upon approval from the bank, the transaction info is sent back to the mobile credit card machine, completing the transaction.
Q: What are the different types of wireless credit card processing?
There are multiple wireless processing types, including credit cards and debit cards, key fobs, smart cards, or other devices that use radio-frequency identification (RFID) or near-field communication (NFC). Also, any smartphone or mobile app that supports contactless payments, like Samsung Pay, Apple Pay, Google Pay, or Fitbit Pay, can be utilized for this purpose.
Q: What is the difference between wireless credit card processing and mobile credit card processing?
While both methods enable an untethered checkout experience, wireless processing involves a wireless credit card terminal working independently without needing a direct hookup to a phone line or Internet connection. On the other hand, mobile credit card processing allows merchants to process payments through their cell phones, possibly with an app or specific equipment attached.
Q: How effective is a wireless credit card processing system in enhancing the checkout experience?
Wireless credit card processing significantly enhances the checkout experience as it leads to faster processing times and allows transactions from virtually anywhere and at any time. More than half of the consumers switch stores if the competitor’s checkout experience is better. Hence, a seamless checkout experience plays a crucial role in retaining customers.
Q: Which industries commonly use wireless credit card processing?
Wireless credit card processing is widely used in service industries such as delivery, repair, and taxi services, and anywhere employees need to process credit cards from a customer’s home or outside a physical store.
Q: How easy is it to implement wireless credit card processing in a business?
Implementing wireless credit card processing in a business is relatively easy and straightforward. Most businesses can benefit from a wireless credit card machine, especially those that have mobile businesses and spend a lot of time outside the office. It delivers the same security, flexibility, and reliability as any other processing solution.
Q: How does a wireless credit card machine function?
A wireless credit card machine operates in a similar way as a countertop terminal, with the key difference being that they do not have to be plugged into a power source. They connect to your WiFi network or come with a monthly SIM plan that can link to 3G and 4G networks.
