Factors To Consider When Investing In Chip And Pin Readers

Any business that wants to process card payments will have to buy a chip and pin reader. This device makes it possible to process both credit and debit card payments. Adding a card reader as one of your payment methods can expand your customer base. In addition, customers feel more secure carrying credit and debit cards as opposed to large sums of money. Therefore, card payments could encourage larger purchases.

Before though you decide to buy a chip and pin machine, there are a few things to consider. Keep in mind that these gadgets are not created equal. It is therefore important to educate yourself on the following aspects so that you can buy a chip and pin reader that is perfect for your business.


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Supported Card Payment Processors

One of the goals of introducing cashless payments into any business is to expand the customer base by providing as many payment methods as possible. To achieve this goal, you would have to choose a chip and pin reader that supports multiple card payment processors.

One way to support many card processors is to go for EMV (Euro, MasterCard and Visa) approved card readers. Also, be on the lookout for chip and pin machines that also accept credit cards. Some companies allow business owners to open multiple merchant accounts in order to expand their card payment options.


Although there are many companies that make card readers, these devices are not always compatible with the different point of sale systems that businesses use. As such, it is important to search for credit and debit card readers that work seamlessly with your POS system. This will allow sales attendants to print receipts directly from compatible printers every time customers complete card payments.

The best chip and pin readers should fully integrate with your POS software. This way, you won’t have to reconcile EFT receipts at the end of your trading day.


Most, if not all, card readers need a direct communication link with banks and other financial institutions in order to record card transactions.  As a result, you will need to consider which connectivity options your desired card readers come with. Some of these gadgets use a dedicated phone line, which can at times be restrictive. Alternatively, you can go for wireless chip and pin devices that allow you to process card payments anywhere using a mobile POS app.

Security Standards

Last but certainly not least, you will need to consider if your chosen chip & pin company is able to support secure card payments. Ideally, you should look for companies that comply with PCI DSS (Payment Card Industry Data Security Standards) standards. Such brands ensure that card payments are encrypted so that credit card details and other sensitive customer data never leaks and falls in the hands of cyber criminals.

Ultimately, your current point of sale system will determine which chip and pin machines your business can use. Not all software vendors provide this feature, but those that create applications capable of processing card payments will often specify which card readers are compatible with their systems.

Charles Stewart has been writing about business and technology since he opened his first retail store in the UK. He loves to stay up to date with the latest trends affecting the business world. Charles recommends you visit www.i-pos.co.uk, an online store that can equip your business with what it needs to process card payments.