PDQ Machines — Indispensable in a Cashless Society
Do you want to start accepting card payments in your business? There’s one thing you need to go cashless: A reliable PDQ machine.
PDQ stands for “Process Data Quickly”, and these machines process payments in a matter of seconds. These quick transactions involve several steps:
1. The customer enters a credit or debit card into the slot and types in a PIN2. The device captures customer payment information3. Payment approval is requested from the card issuer4. The card issuer authorises or declines the payment
More customers are gravitating towards cashless payments because of the convenience. Recent numbers show that debit and credit card transactions account for over 50% of retail transactions. In turn, businesses are adjusting to keep up with the demand for cashless payments—and you should, too.
Types of PDQ machines
• PortablePortable PDQ devices require Wi-Fi or Bluetooth to work. The wireless connection allows the device to be taken to different locations within a specific range. Restaurants, bars, and cafés use portable PDQ machines to receive customer payments right from their tables.
• Mobile It’s all in the name: mobile PDQ machines require a phone network to process transactions. This device is common among debt collectors, traders, and travelling salespeople to accept payments off-premises.
• Countertop Countertop devices are the most common PDQ machines in the industry. This device is the best option for businesses that accept payments from a static location. Countertop machines are the most affordable type of PDQ device.
Accepted Modes of Payment
• Chip and Pin This mode of payment stores customer information on an embedded semiconductor chip in a credit or debit card. It is much safer compared to its predecessor, the magnetic stripe.
• ContactlessContactless payments also work via an embedded card chip; however, this chip contains an antenna that transmits a signal through RFID. Customers need not enter a PIN with this method.
• Mobile Mobile payments are a relatively new method dominated by the world’s largest operating system providers. Customers need a mobile device and a dedicated application to communicate with the PDQ terminal.
PDQ machines have varying fees, depending on the provider. If you’re looking for a device that fits your budget, use a trusted online price comparison tool to help you narrow down your choices.
About the Author: Compare Card Processing Ltd offers a platform to compare card readers available in the UK and finding the cheapest card machine for your business, credit card terminal providers in the UK.
