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Different Types of Credit Card Terminals

When you decide to go for a merchant account operation, you need to have a credit card terminal to accept payments from customers. It facilitates convenient payment without requiring customers to carry cash for purchases The objective of achieving customer convenience should not be done at the cost of users confidentiality.Among the primary factors that need to be evaluated are security features, ease of use, reliability, and charges. Different vendors offer differentiated credit card terminals.

Generally, the merchant account credit card terminals can be grouped into four.The stand-alone credit card terminal is the basis brick and mortar terminal. This is the predecessor of all merchant credit card terminals. This is a type of merchant account that is familiar with any person who has been using merchant accounts. They read credit cards, and debit cards. Primarily, they are composed of a magnetic stripe reader, pin pad, display screen, printer and keep pad. They have to be connected to a telephone line or over the internet. There are newer models that feature the EMV and NFC capabilities.

There is also the wireless credit card processing machines. Their operation is similar to the stand-alone machines though you can still use them away from the front end. The virtual credit card terminals are the other model. This type of terminal allows you to enter credit cards and upload transactions from different places manually. To get working; you need to have a computer and internet connection.

The mobile credit card reader process is the latest entrant to the use of merchant accounts. The credit card readers are mounted on your mobile phone converting it to a terminal. From Then onwards, you can swipe cards using your phone. There is software that needs to be downloaded and installed on your phone so that it can serve as a terminal. This is the most convenient terminal if you require being on a constant move.

The choice of the terminal to use will depend on your business mode of operation. For a business with a high number of clients, the traditional stand-alone terminal is unbeatable. For the online business with internet merchant accounts, they need to have the virtual credit processing terminal.The virtual credit card processing terminal is the choice for online business with internet merchant accounts. Varied price offers may be given by different vendors for the initial setup. Some will offer the mobile credit card readers and the application for free. One of the factors that can never be ignored is the transaction fees. A small difference in rates can translate to large amounts in aggregate charges. You need to compare the setup costs, the monthly fees and the fees per transaction.

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