As e-commerce sales continue to increase, the risk of fraud is becoming even more serious. That’s because fraudsters consider the rise of online transactions as an opportunity to exploit consumer vulnerabilities and steal valuable data.
With a mobile-first model in mind, businesses should do their part in making sure that customers are protected against any attempt to steal sensitive information. Names, credit card numbers, and even browsing habits are at risk of being exposed, so it’s important that you explore every possible solution for enhancing customer security. One of these solutions is a quality card scanner.
Credit card scanners explained
When it comes down to secure contactless payments, credit card scanners are definitely worth considering. These tools allow customers to scan credit and debit cards and extract information such as the cardholder’s name, credit card number, and expiration date in real-time.
Using character recognition technology, card scanners are capable of reading a variety of cards, including embossed and indented cards. An AI algorithm allows the scanners to detect information autonomously and with great precision. Many banks are using this technology to facilitate bank transfers and other money transactions in real-time.
If you’re still not sure if getting a credit card scanner is worth the time and money, here are four of the most important benefits your business can enjoy from getting one.
Make transactions easy and fast
The best advantage of using a card scanner is the seamless experience it provides customers. Since they don’t need to provide details in order to complete their purchases, customers can conveniently transfer money anytime and anywhere. They are a faster way to provide secure and seamless contactless payments.
Eliminate the need to hand over cards
Since businesses are still reeling from the effects of the pandemic, it’s important to reduce the risk of infection. Through card scanning, you can look out for your customers’ well-being by eliminating the need to have them turn over their credit cards. Using mobile card scanning apps, customers can simply capture the information that’s embedded in their cards and send them over to your payment system for processing.
Customers may be wary of using apps or devices to tender payments, but that’s not the case with card scanning. Through this technology, you provide customers with peace of mind. That’s because they don’t need to type in their details and risk exposing these to fraudsters. Using card scanners helps secure e-commerce transactions and prevents sensitive information from falling into the wrong hands.
Improve data gathering
Since card scanners capture transaction details instantly, you won’t have to worry about tracking every dollar that enters your POS system. This will also make bookkeeping easier. Moreover, scanners can also help with documenting payments and facilitating refunds. On top of that, they also provide you with real-time insights that help you identify in-demand products or services and improve your marketing efforts.
Card scanners are a must-have for businesses that want to adopt a truly contactless payment system. If you want to bring your business up-to-date, consider looking for a card scanner that provides you with a ton of features.