Guide to Buying Credit Card Terminals

Not all credit card terminals are created equal, so it is important that business owners consider the different types that are available in the market. This will help them make an informed decision.

You need to buy credit card terminals if you have to deal with several credit cards at a time. Multiple merchant account terminals are necessary if you operate more than one enterprise. Certain terminals hold a maximum of nine merchant accounts. One alternative is the terminal which uses telephone lines and functions provided the line remains dedicated to that credit card equipment. If not, call waiting and fax attached to the same phone line can slow down the purchasing system and hamper all transactions. You can save on resources by connecting credit cards machines to Internet providers such as DSL connections or high-speed Internet transactions.

Sales processing takes only two to three seconds. You can also process transactions anytime and anywhere by using the wireless credit card processing terminal. No phone line is needed for this type of terminal. It is essential to consider the costs relevant to credit card merchant account services. In any case, you need payment-processing service and settle applicable fees. The credit card equipment for actual processing is also a requirement.

Expensive Investment

The wireless credit card processing terminal is the most costly direct investment that you need to come up with. This is the piece of equipment that consumers use to swipe credit or debit cards at the checkout counters. For plain models, the price ranges from $150-$700. Wireless models may cost from $500-$1000 or higher. It depends on the features of the terminal. You can rent credit card terminals which can cost as low as $20 each month. However, you may choose to purchase if credit card processing will be part of the long-term operations of your business. The most practical approach is to rent a machine initially if you will be accepting credit cards on a permanent basis.

You can buy credit card terminals as part of a package when you set up a merchant account. It can result in savings compared to purchasing a separate mechanism. You can also use the personal computer to do card processing online and validate transactions with a virtual terminal program and experienced Internet credit card processing firm. Information may be checked through the telephone and you can process the card manually. Yet, this method may take longer than the Android credit card terminal. Besides, you face the risk of checking funds at the time of the transaction. When the period comes for the company to process the charge, funds may no longer be available.

Other Costs for Business Owners


The other principal expense for the best credit card machines is the discount fee. This represents the percentage that each provider charges for customer transaction. Card associations such as Visa, MasterCard, Discover and American Express determine the greater part of fees that you will earn. On the other hand, processors will establish total costs based on the risks involved. Credit history, amount of the charge and type of transaction being processed are the major factors to be considered. Most credit card processors have two rates. One is for transactions wherein card is not present (online purchases). The other is when the card is present and the transaction is instantaneous.