In the payments industry, wireless terminals are electronic devices used to process card payments at retail locations. These devices along with SIM cards are critical to businesses because they can read the information off of a customer’s credit or debit card, check whether the funds in a customer’s bank account are sufficient, transfer the funds from the customer’s account to the seller’s account, record the transaction, and print a receipt.
For these functions and transactions to take place, SIM cards are often needed. When a wireless terminal is not connected, it can’t accept or process payments ultimately leading to lost transactions and revenues. One major recent example is the Target outage in June where they were unable to process credit card transactions and some industry experts say it cost them as much as $100 million in sales (https://www.cnbc.com/2019/06/17/target-shares-fall-after-weekend-register-meltdown.html
Here is why SIM cards are a great option for wireless terminal connectivity.
Failover. The reality is that WIFI is not the most dependable solution. From security threats to the fact that you can lose a signal for various reasons like construction in the area, accidents, weather, and anything else that causes the ISP to go down, the cellular data network is much more stable in most cases and regarded as the go-to for failover solutions. For this reason, many retailers use WIFI as their primary connectivity solution, but also have a cellular option standing by if they run into a problem and still need to be able to process transactions when their primary connection goes down. This failover backup solution gives retailers the peace of mind knowing that if their signal is lost through their ISP, they are still able to fully operate their business and keep customers happy and transactions happening without interruption.
Mobility. More than just providing reliable connectivity, wireless terminals connected with SIM cards enable vendors to be mobile. Sim cards are a great option for any ISO or MSP servicing the retail or restaurant markets. Sim Cards provide connectivity where businesses may otherwise not have an option like food trucks, event type merchants, mobile merchants. No longer is a business tied to an ethernet cable or finding a public-wifi signal to be able to process transactions. With a wireless terminal connected via cellular, they can operate their business from anywhere and be mobile from one event venue to the next without any additional set-up or infrastructure. Sim cards also play a role in your brick and mortar merchants, ones that have wireless pay-at-the-table solutions or other solutions like Ziosk.
Low Cost. SIM cards are also a great solution because they are a low-cost option for wireless terminals. With the right connectivity provider, you won't have to pay activation fees, terminal provisioning fees, or per-transaction fees. OptConnect provides a more flexible, more robust, lower-cost option for customers looking for SIM cards with service for their devices. We offer a managed service, supplying the SIM cards, network connections from all of North America's major carriers, and support services.
In addition, our managed, end-to-end service allows customers to add OptConnect to product offerings without introducing a complicated, time consuming new step in the process.
For more information on OptConnect’s SIM card solutions, click here.