How Do Magnetic Stripe Readers Save Businesses And Customers Money Every Year?

Rfid reader

The world runs on cards. They’re simple, convenient and can be used for a wide variety of purposes. So what do we do, exactly, when our security is compromised? This is where a magnetic stripe reader comes in. Designed to be as accurate as possible as well as lightning fast, these are perfect for just about any function. From drivers license scanners to a ballot scanner, a magnetic stripe reader is the bridge between the busy consumer and competitive business.
Did You Know?
How much do you know about the function of a magnetic stripe reader when it comes to daily life? Studies have shown nearly half of all American adults say they have purchased a state lottery ticket in the past year alone. Another survey conducted back in 2014 saw around 40% of respondents saying they much prefer to make their purchases with a debit card, while only 30% said they regularly use credit. Due to mounting credit card fees, it’s easy to understand why many would prefer to take the safest route possible. How does a magnetic stripe reader come into this?
Passports And Licenses
A magnetic stripe reader is important for making sure no essential data is lost, particularly during sensitive topics that require the attention of border officials and local state driving laws. Around 45% of Americans currently own a passport, with an estimated 215 million people having driver’s licenses back in 2015. For those that don’t drive, a local state ID can still function for entry and purchasing purposes.
Credit And Debit
When seven in 10 Americans own at least one credit card, the benefit of a credit card reader that remains accurate and functional cannot be understated. Providing everyday field service workers with the proper technology needed to do their jobs can boost efficiency in more ways than thought possible. Some of the most important technologies used include, but are not limited to, barcode scanning at 34% and mobile payment options at 24%.
Paper And Data
Why has paper fallen out of favor? It may have something to do with the insurmountable labor, storage and cost it takes to maintain it. According to studies provided by the Gartner Group, an impressive 15% of all paper documents are misplaced. Another 8% are lost completely. This can add up to tens of thousands of dollars lost on a yearly basis in replacement, grievances and additional labor. It’s thought that every individual office worker in the United States will use around 10,000 sheets of paper per year.
The Benefits Of A Scanner
What does it mean to use magnetic card readers? It all boils down to efficiency. The world moves faster than ever before and consumers need businesses that care about their hard-earned time and money. Scanners are endlessly more efficient at storing necessary data for credit and debit cards, reducing the risk of customers losing their money, and they go a long way in saving money lost from inefficient paper documents. There are even more specialized magnetic card readers, such as the smart card scanner or a scanner for lottery tickets. When it comes to moving forward, it’s best to move fast.

About: Technology

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