Sadly, the process to be able to accept card payments over the years hasn’t seen much change. Card accepting methods are stuck in the past because they are dominated by an industry that refuses to change.
Credit card acceptance methods are now synonymous with the stigma of lengthy contracts, old technology and extra costs.
However, things are starting to change in the world of chip and pin credit card acceptance. For the past 2 years, payments have been able to be made through mobile devices paired with smart phones or tablets.
This means that a store owner or person who runs their own small business can accept credit cards anywhere, anytime (as long as they get phone service).
This has opened up a new market in the world of accepting credit cards and the bigger, older companies are starting to get weary of their competition.
New, emerging technologies such as payleven’s mobile chip and pin device are now paired using Bluetooth. This already raises the bar for the old payment technology that was using dial-up type connections to reach the ever.
Some of the older players in the industry have fired back by making their old, chunky chip and pin devices smaller in order to fit in to the look of the market. Others have even attempted to make their own chip and pin devices.
Although, the past few years have seen the emergence of emailing receipts, it (unfortunately) has not seen the dissolve of income tax.
Consumers still want hard copies of every receipt they ever have to tuck away in a shoe box for the tax man. It’s a lot easier if they can get it as soon as they have paid.
Mobile receipt printing is now possible from these new chip and pin devices with the tap of a screen. What used to be a huge machine on the top of a counter is now able to be conveniently stowed in a drawer or glove box (for small business owners on the road).
The coming years will see a huge challenge for the credit card acceptance industry. Old players will have to adapt to the new technology. Newcomers will have to keep constantly thinking about what is next with theirs.
What might seem new now could look old and antiquated in 3 years. What seems old now, sadly, may still be quite common everywhere you go now.
The credit card payment industry is one that is now being forced to make changes and one thing is clear. There will be more and more easier options to go with in the future.