Choosing a card swiping machine is not easy because it costs money, yet you have to consider the quality of service. If you are running a big business, that’s not a big problem. After all, you have all the financial resources you need to find the best card swipe machine without worrying about the cost.
But that’s not how it goes with small and medium businesses. Here you have to consider both the card swipe machine price and the service provided. The trick is to find a system that will benefit you at a price you can afford.
What Affects the Cost of a Card Swipe Machine?
A card swipe machine consists of two parts; the hardware and software
Depending on your business, this may include
- A cash draw
- Pin pad
- Credit card reader
- Receipt printer
- Barcode scanner
- The countertop register, which is the highest cost
The software runs in the background, and the cost may vary depending on the virtual POS terminal. Another crucial factor that affects the card swipe machine price is whether you are running a cloud-based system or an on-premise system.
The hardware and software costs are not the only things you have to worry about; there are several other types of fees you have to pay. These are
- Payment processing fees
- User accounts; cost depend on the number
- Card reader
- Number of registers
- Add-on features
Now let us look at some of the most affordable options you have in the market
- Square; best overall
- eHopper; best value
- TouchBistro; Ideal for restaurants
- Vend; ideal for retail
- Shopify; ideal for eCommerce
- Lightspeed Retail; Ideal for iPad POS
- ShopKeep; perfect for Inventory management