Shopify, a tech company that helps small business e-retailers and brick and mortar stores to improve the software they use, has recently released a new piece of hardware: the Shopify Chip and Swipe Reader. As its on-the-nose name suggests, the device accepts both chip and swipe cards, adding a layer of convenience for businesses that aren't willing or able to shell out for the dramatically more expensive payment machines offered by traditional banks and credit card companies.
Though Shopify has sold card reading hardware for some time, it has always sold products from third party companies. The Chip and Swipe Reader is the first piece of hardware Shopify has designed itself, and it is thus ideal for Shopify clients. Beyond chip and swipe compatibility, the reader also works with smartphones, and it has been designed to be used with one hand — a subtle add for busy retailers.
E-Commerce Card Readers
Shopify Designed Its 'Chip and Swipe Reader' for E-Retailers
Trend Themes
1. Mobile Payment Solutions - The release of the Shopify Chip and Swipe Reader highlights the trend towards mobile payment solutions for small businesses, providing convenience and cost-effectiveness.
2. In-house Hardware Design - Shopify's development of the Chip and Swipe Reader represents the trend of businesses creating their own hardware solutions instead of relying on third-party options.
3. Convenient Payment Options - The Chip and Swipe Reader reflects the trend of providing businesses with more convenient payment options, catering to their specific needs and reducing reliance on traditional banks and credit card companies.
Industry Implications
1. E-commerce - The Shopify Chip and Swipe Reader is particularly valuable for e-retailers and online businesses, enhancing their payment options and improving the user experience.
2. Mobile Technology - The growing trend of accepting mobile payments is driving innovative solutions like the Shopify Chip and Swipe Reader, transforming the way businesses handle transactions on smartphones.
3. Small Business Services - Shopify's in-house hardware design signals opportunities in the small business industry, offering specialized tools like the Chip and Swipe Reader to improve operations and increase sales.