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You may be able to benefit from receiving swiped transaction rates when using a card reader with your virtual terminal instead of hand-keying card information. Additionally, the ability to accept EMV chip cards reduces your liability for fraudulent transactions and increases security by encrypting sensitive card information when you dip the card. For customers that don’t have chip cards, you can still swipe traditional magnetic stripe cards.
Magtek boasts that you can get up to 1,000 swipes per battery charge and that the ergonomic design makes it easy to swipe cards the first time, reducing wait time for your customers.
The MagTek eDynamo is not a processor-specific device, meaning that many different processors can support it. The MagTek eDynamo works with Android, Apple, and Windows devices. Additionally, Magtek devices are not limited to one processor. Many different companies can support Magtek readers.
The cost for the reader depends where you purchase it, but it’s typically under $100. In addition to the reader itself, you’ll have to pay transaction costs every time you accept a card. Those costs are set by the credit card processor you choose. Want to see pricing for your business? Use CardFellow’s free credit card processor comparison tool to see real numbers for your business.
The Magtek reader works with virtually any credit card processor, and hooks up to your computer for swiping cards when you use a virtual terminal instead of a countertop machine or POS system. Great for accepting chip cards.