subject: Types Of Credit Card Processing Terminals [print this page] Accepting credit cards for business is extremely beneficial for merchants who wish to expand their customer base and improve profits in a challenging economy. The use of credit and debit cards has increased significantly in recent years, and consumers are beginning to swipe cards and enter PINs for nearly every purchase, large or small. Merchants can choose between three basic types of credit card processing terminals, each with features and options designed to meet a variety of different processing needs. Below, get details on which merchant account terminal best fits your needs, and explore the benefits of accepting credit cards.
Traditional Credit Card Processing Terminals:
Most consumers and merchants are familiar with traditional credit card processing terminals. Businesses that make the majority of their transactions face-to-face at a brick-and-mortar establishment, including restaurants and retail stores, often use traditional credit card terminals. These are equipped with magnetic stripe readers, through which the credit or debit cards are swiped, as well as keypads for manual entering information, and easy to read display screens. They can also come with external pinpads for customers to enter their pin code privately and efficiently. Printers, check processing, flash memory, and the ability to accept gift cards and reward cards are also features and options for traditional terminals.
Wireless Credit Card Processing Terminals:
Sometimes, merchants have to take their business to multiple locations. Wireless credit card terminals can accept credit cards wherever you are, and are ideal for taxi drivers, food delivery workers and service repair workers. These terminals work much like traditional equipment, with magnetic stripe readers, keypads and a display screen. However, with wireless capabilities, you can accept credit cards and debit cards quickly without the need for physical connections or bulky equipment.
Virtual Credit Card Processing Terminals:
As more consumers enjoy the convenience and security of e-commerce shopping, many businesses are now accepting credit cards online to improve profits. Virtual terminals allow merchants to accept credit cards, debit cards and checks through the Internet, whether through one-time payments or recurring billing. Virtual terminals are also ideal for merchants doing business through mail and telephone orders. With a virtual merchant account, you can manually enter credit cards transactions from any computer that has access to the Internet.
Merchant Account Terminal Security Features:
Keeping customers and businesses safe from credit card fraud is a major concern for merchants accepting credit cards. When choosing credit card processing terminals, be sure they are compliant with PCI standards. Features such as Address Verification System (AVS), which prompts cardholders for their zip code for authorization, and End-to-End Encryption (E2EE), which encrypts credit card information from the point of swipe, help ensure credit card security.
