Making Use Of A Merchant Credit Card Terminal

Making use of a merchant credit card terminal is a great idea for most businesses - but not for all

. Before you go and purchase or lease one, you should make sure that you really do need one. And if you need one, you should take the time to look at all the available makes and models to see which one will serve you the best for your particular situation. There are a wide variety of them on the market, so there should be one that will do just fine for you and your business.

Many of these terminals work very well in a person-to-person situation. Either the customer, or you, swipes the card, then they sign one receipt that you keep; they get the other copy and the transaction is finished. These are 'card present' situations. The card is physically at the point of the transaction. This is sometimes known as POS, or 'Point of Sale'. If you don't swipe the card, then you have the option of simple punching in the credit card numbers on your keypad.

You can use these terminals for sales over the phone as well, when you punch the numbers on the pad. Most everyone who opens a merchant account is going to find they need a credit card terminal. And there are some who decide to open several merchant accounts. For these people, there are also terminals out there that can handle as many as nine at one time. So you can see, there are many types available, to suit all needs.

The prices of these merchant credit card terminals can run you from the hundreds to above a thousand dollars. Of course this will vary from model to model, depending on the features it offers, and what kind of printer it uses, and things like that. There are a lot of brands to choose from and a lot of different functions available for consideration. So it's a good idea to look them over hard before deciding on one.

One of the other things to consider with your terminal is its response time. The old models were designed to use a phone line. The newer models have adapted to DSL or high speed Internet, and some can even go wireless. The response time with the old phone lines is roughly ten seconds, while the others are closer to just a couple of seconds. It may cost a little more, but you may want one of the newer models if you plan to do a lot of business.

Another thing people should think about when shopping for terminals, is the ability to accept debit and ATM cards. For these your terminal is going to require a 'PIN' pad so the customers can enter their pin like they do at the ATM machines. This is a big convenience for many people, and will get you a lot more sales if you have the capability available and ready. It's all about getting sales.

The next question to answer is whether to buy or lease your terminal. Leasing, of course, means paying again and again, whereas a purchase is a one-time payment. But you have to look at your circumstances in order to evaluate which one is going to work best for you. It's just another decision in the quest for the right terminal setup for your business.

Making use of a merchant credit card terminal can be one of the most beneficial aspects of your business. POS, or 'Point of Sale' transactions are the most common. They keep a business flowing and profiting. Running a business without the ability to accept credit cards in today's society is simply suicidal. Internet transactions are all credit or debit cards and electronic checks. And most people who shop out on the town at the malls, mostly use their cards as well. So it's best to be set up to accommodate these shoppers, and be able to make the profit you deserve.

by: Eddie Lamb

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