Running a business involves numerous challenges, from meeting sales targets to managing employees. Concerns about bounced checks and verifying customer age for age-restricted products can add to the stress. Fortunately, technology offers solutions to alleviate some of these burdens, specifically in payment processing and age verification.
A crucial tool is a credit card terminal. Accepting credit cards is almost mandatory in today’s market, as many customers prefer electronic payments. Not offering this option can deter potential business. When setting up a merchant account, consider a card reader that accepts PIN numbers for debit card transactions. This provides greater customer flexibility and often results in lower transaction fees.
To mitigate the risk of bad checks, a check reader is a valuable investment. Functioning similarly to a credit card terminal, it electronically debits the check amount from the customer’s account. The payment is typically deposited into your account within 24 hours, eliminating trips to the bank. Check readers provide immediate confirmation of sufficient funds, reducing the risk of accepting fraudulent checks.
For businesses selling age-restricted items like tobacco or alcohol, electronic age verification hardware is essential. These devices resemble credit card terminals and scan barcodes or magnetic strips on state-issued IDs. The device instantly confirms if the customer meets the required age, eliminating guesswork and accelerating the verification process compared to manual ID checks.
While technology can sometimes seem overwhelming, implementing the right tools can significantly simplify business operations, reduce risks, and improve efficiency. Embracing these technologies allows you to focus on core business functions and growth.