The Best Chip Readers
For some people, cash might be king. But for most of us, convenience is even better. If you run a business of any size, you know how important it is to provide your customers with multiple ways to make payments. Back in the day, business owners had to buy bulky equipment that made credit card transactions a hassle. Nowadays, you can make things a lot easier by purchasing a chip reader. Chip readers are compact devices that connect to your smartphone and allow customers to easily swipe their credit cards for purchases. In this piece, we've put together a comprehensive list of the best chip readers on the market to help you choose the right one for your business.
What to Look For
Using a chip reader is relatively easy. All you have to do is download the reader’s app on your phone or tablet and connect the app to the chip reader via Bluetooth. From there, you’ll be able to follow the steps and start using the chip reader for client transactions. When researching the best chip readers, then, we considered factors that help streamline this process, including easy setup, reliable transaction recording, and a durable and ergonomic design. We found that one of the most popular options out there is Square’s, which features a hassle-free design that plugs right into your phone, making it great for small business owners. For a standalone reader made for debit and credit card transactions, try the one from Deftun, which connects reliably to your computer via USB. For more of our favorite chip readers and to find one that’s right for your business, read on.
Square A-SKU-0532 Chip Reader
Swipe and sell
Tired of having to tell your customers that you don’t take credit cards? This Square reader is an affordable and effective remedy. Just plug the reader into your smartphone, open up the Square mobile app, and swipe your customer’s credit card. Square does all the work for you. Transactions made through the Square reader only take two days to get into your bank account. Unfortunately, this design is only compatible with iPhones, so Android users should keep reading to check out some of our other picks. Still, for Apple lovers looking for an affordable way to modernize their businesses, this reader is a must-have.
Pros:
- We loved that this chip reader connects fast, making it easy to charge clients with chips. Plus, it’s convenient and easy to use.
- The app allows you to do a practice transaction to ensure it’s working properly before you use it with actual customers.
- It works with Google Pay and Apple play, plus all major credit and debit card providers.
Cons:
- It’s only available for use on iPhones or Ipads.
Deftun MSR90 USB Chip Reader
Convenient for cards
Deftun’s USB chip reader is a classic design imposed on a modern utility. The MSR90 looks a lot like conventional chip readers, making it a great choice for those wary of technological changes. The chip reader connects to your laptop via its USB port and processes all credit and debit transactions there. Conveniently, Deftun’s reader allows customers to swipe forward or backward, which is a bug that many chip readers haven’t yet worked out. If you’re looking for something more compact to connect wirelessly to your smartphone, this isn’t the pick for you. But for those looking for a reliable connection and classic feel, the Deftun MSR90 is a respectable choice.
Pros:
- We found this chip reader easy to operate, and it works right out of the box.
- This chip reader is compatible with various software, so it’ll be ready to use when you need it.
- You can swipe this card backward or forward, so there’s no wasting time trying to determine the direction you need to swipe cards.
Cons:
- It needs to connect to a laptop via the USB port and isn’t compatible with Bluetooth or smartphones.
SumUp Chip Reader
Painless payments
If you’re in the market for a standalone chip reader that can handle all of your transactions from one spot, this pick from SumUp is right up your alley. Bluetooth and wired readers are great for those who want to keep track of transactions on their phones or laptops, but SumUp’s reader can save you a lot of counter space and time. Since it doesn’t need to connect to any device via Bluetooth, transaction times are quicker and easier. Not to mention, the low asking price on this chip reader has us pleasantly surprised. Anyone looking for big-time functionality at a small-time price, go with this pick from SumUp.
Pros:
- We loved that the transaction fees are lower than with other services and you can keep your transactions all in one place.
- The chip reader’s app syncs quickly, and setting it up is fast and easy.
- The app includes helpful features for invoicing, a virtual terminal, and other useful business features.
Cons:
- It can be a little difficult to connect with your bank.
Square Reader
Squared up
The Square reader is the top pick for credit card transactions for small business owners all over the world, and for good reason. The Square reader is easy to use, reliable, and cheap. Just connect your phone, tablet, or laptop via Bluetooth, and have your customers insert or scan their credit cards for purchases. Square only takes a 2.6% cut for every purchase and its transactions are completed and into your bank account within two days. The Square mobile app makes it easy to view transaction history and contact support for any questions.
Pros:
- We found this reader links to Android and iOS devices quickly via Bluetooth without any problems. It works flawlessly with Apple Pay and Google Pay.
- We loved that there are no hidden fees. You pay the same flat fee rate for every transaction.
- The Square app is intuitive, so there’s no learning curve required for getting used to it.
Cons:
- It’s a bit pricier than comparable chip readers.
Frequently Asked Questions
How much will the chip reader company take from each purchase?
Obviously, different companies will charge different rates. From our research for this piece, we’ve found that the percentage usually ranges from 2-3%. Square, arguably the most popular chip reader company, charges 2.6% on every purchase for its services.
How do these chip readers differ from conventional ones?
Conventional credit card readers serve the same function as the products we’ve featured on this list, but they have some significant differences and drawbacks. For one, conventional readers tend to be bulkier, more unsightly, and slower. Modern chip readers connect to wifi and process transactions in a comparatively rapid fashion. Either one will get the job done for your business, but modernizing payment processing will only make things easier for your business.
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