Choosing the Best Credit Card Terminal

Selecting a credit card terminal can be as confusing as choosing credit cards itself. Most of the machines have the same features but it is wise to choose the one that will fit your needs. One of the most important questions to ask before purchasing a credit card terminal is: By what means will I make credit card transactions? Credit card purchases can either be face-to-face, over the phone or through the Internet. Based on these criteria, you can select a Traditional, Wireless or Virtual Credit Card Terminal.

A Traditional Credit Card Terminal is the one you commonly see in grocery stores, hotels and restaurants. This operates by plugging it to an electrical outlet and hooking it up to a phone line that connects with your merchant account provider to process the credit card transaction. A receipt printer can be built in or can be bought separately. If you are connected to the Internet, you can use IP connections instead of a phone line. This will speed up credit card transactions by 2-3 seconds compared to a phone line transaction. If your business sells products or services that do not require you to be mobile, a traditional credit card terminal is your best bet.

You also have the option of going for a Wireless Credit Card Terminal. As the name implies, you do not need wires (that means a phone line and an electrical source) in order for the machine to operate. This is perfect for businesses that require the merchant to be mobile. For those who have a stationary business however, getting a wireless terminal is not cost-effective.

A Virtual Credit Card Terminal is used by online businesses. Customers can purchase goods from and give their credit card information on your Website. In order to keep the information secure, Virtual Credit Card Terminals are integrated with software that sends the information to the merchant account provider over a secure connection. If you’re doing business both online and offline, you may consider getting both a traditional and a virtual terminal.

Although most merchants maintain only one merchant account, there are some that need to have multiple accounts. In this case, they would need a terminal that can support multiple merchant accounts.

You may also be concerned about the terminal brand to purchase as there are numerous brands available in the market today. Most of the manufacturers of credit card equipment have been known to make quality goods, so this is not really a necessary concern. When applying for a merchant account however, you can ask your account representative as to the options that you have.