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What payment processing equipment do you need to start a new business?

Starting a new business involves successfully completing a list of small and large tasks that never seems to end. Along with finding the right products, whether you’ll be selling online, in person, or both, and coming up with marketing, you also need to think about how you’re going to accept your customers’ payments. Having the right credit card equipment is critical.

Times have changed.

Not all that long ago, customers paid for their purchases primarily with cash. For big- ticket items or in other limited circumstances, they may also have used checks. Then credit cards came along, allowing customers to spend more money than they actually possessed at the time of purchase.

Accepting credit cards required specialized equipment that could reach each customer’s sensitive payment data and transmit it securely to the payment processing company for authentication and verification. No longer could an old-school cash register fill the bill.

Payment devices you need today.

As you move toward cutting the ribbon on your new business, prepare to invest in the following equipment to optimally serve your customers and boost your sales.

Credit card readers or smart terminals. Without these basic items, you cannot interpret the information on your customers’ plastic. Although these devices have been around for decades, today's NFC-enabled versions allow buyers to pay with no card contact without sacrificing security.

• Peripherals. Devices such as receipt printers and barcode scanners provide sales information to your customers and manage inventory, respectively.

• Your website. Although it isn’t a piece of equipment, the importance of launching and regularly updating your ecommerce site is so great that we couldn’t resist including it in this list of must-haves. As your digital ambassador, your site provides guests with what often is their first impression of your company. Spend time to ensure that your website is uncluttered, mobile-friendly, and packed with content that people can use.

• An ecommerce platform. If you are going to sell and accept payments online, you’ll need a way for customers to search for items. A digital shopping cart digitally stores selected items for purchase when customers check out. Finally, you’ll need the payments functionality that allows for secure completion of the sale.

Getting a new business off the ground can feel like attempting to complete a thousand-piece jigsaw puzzle. With so many parts to be fitted together in the right way and the right time, the process can be overwhelming. However, once you have your plan in place (and the payment solutions that can make it a reality), you’ll likely find that you have all of the necessary pieces to form the foundation of a strong, long-lasting company.

Contact CPS today and see how easy it is to get the merchant services you deserve.

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