Different EDC Machine Types to know

What Is An EDC Machine? 

An EDC (Electronic Data Capture) machine allows merchants to accept card payments directly from customers. EDC machines, also sometimes called payment terminals, enable contactless, chip and magnetic stripe card transactions securely and electronically. 

They eliminate the need for paper receipts and can integrate with inventory, loyalty and analytics software. In essence, EDC machines digitise the merchant payment process.

How Do EDC Machines Work?

When a customer makes a payment, their card details are securely entered or tapped on the EDC machine. The machine then encrypts and transmits the card data to the payment processor or acquirer for authorisation. If approved, the transaction is completed and a receipt can be printed. 

Some EDC machines allow integrated solutions like order and inventory management. The payment information travels through the card brand’s network to the issuing bank to finalise the transaction. Funds are then deposited into the merchant’s bank account, usually within a couple of business days.

Different EDC Machine Types

There are several main types of EDC machines to consider for your business needs:

1) Counter-Top Terminals: 

Countertop terminals are compact electronic devices that can be placed on retail counters to process card payments. They have a built-in PIN pad or card reader and are connected to a payment network through internet lines. These are affordable and easy to use.

However, their processing power and features are limited as compared to full-fledged EDC machines. It is best suited for small retailers with occasional card transactions who want basic payment acceptance capabilities without a large investment.

2) Mobile Card Readers: 

Mobile card readers are compact electronic devices that allow merchants to accept card payments. The card details are read by swiping/inserting a credit or debit card into the small mobile reader which is then connected to a mobile payment processing app.

Mobile card readers are very convenient for businesses that need to process payments outside of a traditional retail environment. This allows merchants like food trucks, taxi drivers, freelancers etc. to accept payments anywhere using their mobile device. 

3) All-In-One POS Systems:

All-in-one POS systems are compact electronic devices that combine payment processing, inventory management and reporting capabilities into a single unit. They have integrated card readers, printers and screens to complete transactions without needing additional peripherals. 

Transactions can be processed quickly through an intuitive touchscreen interface. Inbuilt software handles tasks like product and customer databases, sales reports and basic accounting.

4) Contactless EDC Machines:

Contactless EDC machines allow customers to make payments without physically inserting or swiping their cards. These machines use Near Field Communication (NFC) technology to capture payment details from cards or digital wallets held close to the reader.

When making a payment, the customer simply taps or holds their contactless card or mobile device near the NFC reader. No PIN is required for transactions below a certain limit, making the payment process very quick and convenient. Contactless payments have grown in popularity as they reduce physical contact.             

5) MPOS Systems:

mPOS or mobile point-of-sale devices are payment terminals that allow merchants to accept card payments on mobile devices like smartphones and tablets. mPOS devices connect directly to the audio jack or via Bluetooth of a mobile device and allow it to function like a traditional card machine. 

They are very affordable and portable payment acceptance solutions for small business owners. These pocket-sized card readers make payments very simple and help small merchants be able to accept payments anywhere, anytime right from their mobile devices.

Benefits Of EDC Machines

Accepting payments electronically through EDC machines brings merchants numerous advantages over traditional paper-based or manual systems. Key benefits include:

1) Increased security 

By automating document delivery, EDC machines reduce security risks like data breaches or physical documents getting lost/stolen during transit. The digital documents stored on EDC machines have enhanced access controls and audit trails compared to physical files.

2) Faster transactions

EDC machines allow transactions like payments to be processed quickly through electronic means instead of manually. This speeds up the transaction process and reduces wait times for customers.

3) Real-time reporting

Real-time reporting allows managers to access up-to-date production data from the EDC machine directly. This enables them to closely monitor productivity, quality and other key metrics, and make informed decisions to optimise operations on time.

4) Inventory management

EDC machines help automate inventory management processes. They track stock levels in real time and generate automated reorders when inventory quantities drop below predefined thresholds, ensuring optimal inventory levels are maintained to meet demand without stock-outs.

5) Payment flexibility 

EDC machines offer payment flexibility by allowing merchants to accept various payment options from customers like credit cards, debit cards, net banking and digital wallets for smooth and convenient transactions.

Choosing The Right EDC Solution For Your Company With NTT DATA Payment Services India

NTT DATA Payment Services India offers a complete payment solution to advance both your offline and online businesses. From online payment gateway and mPOS to IVR payments and Bharat QR Scan and Pay, we ensure maximum comfort, convenience, and safety for all your payments.

Our full-featured mPOS solution delivers the key advantages outlined above, ensuring fast and secure card processing. Experts will assess your requirements and recommend the right combination of hardware, software and services. Training, onboarding and customer success teams ensure smooth deployment and adoption.

Conclusion:

Adopting EDC capabilities through the right machine type is essential for merchants in today’s digital economy. It streamlines the payment process, boosts security and opens opportunities to deepen customer relationships. 

Partnering with a trusted payments advisor like NTT DATA  Payment Services India helps select the optimal solution configured for long-term growth. EDC solutions digitally transform how businesses accept payments now and in the future.

FAQs

1) What is an EDC machine?

An EDC (Electronic Data Capture) machine allows merchants to accept card payments directly from customers electronically without using cash or checks.

2) How do EDC machines work?

EDC machines securely capture card details, encrypt and transmit them to the payment processor for authorisation. If approved, the transaction is completed digitally and a receipt can be printed.

3) What are the different types of EDC machines?

The main types are countertop terminals, mobile card readers, all-in-one POS systems, contactless machines and mPOS systems. Each has pros and cons for different business needs.

4) What are the benefits of contactless EDC machines?

Contactless payments are fast and convenient as customers just tap their card or device to the reader without inserting or swiping. They also help maintain social distancing.

5) How can I choose the right EDC solution for my business?

Partner with a trusted payments advisor who can assess your requirements and recommend the optimal hardware, software and services tailored to your business needs and future growth plans.