“You don’t take credit cards!?!”
This is one of the worst things you can ever hear as a business owner. It means that, at best, you have annoyed a customer. Worst case scenario, you have already lost the sale.
You may have the best coffee and bagels in the land, but if your customers can’t do business with you via their preferred method of transacting a purchase, you are leaving money on the table. They will head on down the road to Starbucks or Dunkin where convenience is built into the experience.
Technology allows lean, nimble small and local businesses to compete with the big dogs, but not if you don’t keep up. Since the suggested deadline of October 15 2015, businesses began accepting EMV credit cards. You may have noticed the confusion at the register when you visit your local store. Some retailers take the chip and others don’t.
And it’s not just a matter of big business versus local. Technology enables the mom and pops to keep pace with giants like Walmart and Target. In some cases, local business has an advantage because you only need to change the hardware in a few locations, rather than implementing across hundreds or thousands of locations.
What is an EMV chip credit card?
EMV stands for Europay, Visa and MasterCard, the major credit cards participating in the EMV movement. It allows for greater security measures that were not possible with the old-school magnetic strip cards. An EMV card contains a computer chip that generates a unique transaction code for every purchase.
With a magnetic strip, the data is configured in a static way; it’s the same every time. That meant that strips and payment information could be easily captured and duplicated for the purpose of committing credit card fraud. With EMV, fraudulent transactions have already been significantly reduced since implementation.
The problem? Mobile card readers have lagged behind in the transition to EMV technology. Not to mention that many mobile card readers never worked that great to begin with. Enter Blue Dog Fetch. It’s a new EMV-compatible mobile card reader that you can use remotely with a tablet or cell phone.
You simply download the app to your device, plug in the chip reader and start accepting credit card purchases. You can also easily customize your business on the go, managing inventory, emailing or texting customer receipts and providing tipping options, all with real-time reporting.
No more lost sales from demanding only cash payments and/or card readers that either don’t work properly or can’t accept EMV cards.