For Some Businesses and Customers the Pain of Chip Card Transactions Cuts Deep
With the adoption of EMV chip card readers across the country still going strong, more and more people are concerned about the awkward and confusing interaction than the increased security features. Honestly, if you’ve had the chance to use your “newish” chip card, you’ve likely wondered: “Do I swipe? Do I enter the card? Why is it taking so long?” So, while this added feature might help make card purchases more secure, people aren’t loving it and some are turning away from retailers because of the confusion and wait time.
In a recent survey by Cayan, almost 25% of customers say if their wait time is 5-20 seconds, they will skip that retailer in the future. The average EMV chip card transaction is about 14 seconds. Bad news, right? So, as a business owner what are you to do? You have to have the EMV readers to avoid costly liabilities, but you also want happy customers. (Please note: a customer who can avoid silent staring contests with your cashiers will likely be happier than one forced to participate in the silly waiting games.)
Speed It Up
- Check your connection. In today’s world, there are very few reasons for a business to still be operating a credit card terminal through dial-up. However, a lot of businesses are still relying out outdated dial-up equipment. If you’re one of them, it’s time for an upgrade to an internet connection, and perhaps some new technology overall.
- Go Mobile. Retailers that go out of their way to make lines faster get top marks from customers. One way many retailers do this is to have mobile payment acceptance so the employees can quickly and efficiently check out the customers already in line. Think about it…you’re waiting in a seemingly endless line during the holidays when an employee comes to greet you and processes your transaction right there on the spot. Smooth, right?
- Find a better overall solution. Your dad’s old terminal isn’t cutting it, you need some mobile options, and let’s fire up that chip card reader wait time while we’re at it, shall we? Welcome, CloverTM. The Clover family is a customizable solution for any business, and it is killing the EMV chip card game with an average 3 second wait time from the initial “dip” to the “remove card” screen. That’s a heck of a lot better than 14 seconds. Oh, let’s add some icing to this Clover cake: the Clover Mini averages 2.93 seconds!
Don’t Go There
While you’re looking into keeping your customers coming back for more, there are also a few don’ts when it comes to EMV chip card transactions.
- Sticky Note Mayhem. You’ve seen it–those terminals with notes plastered all over them with instructions. It’s impersonal, and does anyone else notice how dirty the paper gets? Ew.
- That’s Weird. There’s nothing like making an uncomfortable situation even more cringe-worthy. Watch what you say about your chip reader to strangers, okay?
Happy Customers = Happy Business
Do your business a favor by doing your customers a favor…speed up those EMV chip card reader transactions. You would be surprised at how much you and your employees can accomplish with updated technology, and we are here to help. The Clover family has all that you need to effectively manage and run your business, while keeping the transaction process smooth and simple for your customers. Let’s get your business running with Clover today!