Business owners can choose from various credit card processing options. It is important to consider their particular needs before they decide.
Businesses that invest in credit card processing terminals get many benefits from it regardless of the nature of their business. To name one, they are able to accept credit cards and debit card payments safely and efficiently and this is critical when it comes to improving customer service. Not only that, it also reduces costs and it maintains competitive advancement for businesses in today’s market. But before you pursue plans in investing in credit card processing terminals, it would be best to know its basic types.
Stationary Credit Card Processing Machine
The first one is the stationary credit card processing machine. These are often used for face-to-face transactions which require the actual card at the time of the transaction and are widely used in restaurants and retail sales. This type of credit card processing is what most people are familiar with. The stationary credit card machine needs a direct and physical connection to the internet or a phone line to enable it to process and authorize the credit card payments. The basic features it possesses are a magnetic stripe reader, a keypad, display screen PIN pad and printer.
Wireless Credit Card Processing Machine
The second type is the wireless credit card processing machine and they have the same basic design and features that the stationary machines have. The difference is that it does not require a direct connection to the phone or the internet which is why it is ideal for merchants who would like to accept credit card payments wherever they may be. Technology sure does move rapidly making it possible to process credit cards wirelessly enabling merchants to improve their customer service by offering them a secure and more efficient way to accept payments.
Virtual Credit Card Terminals
The third type of credit card processing is what they call the virtual credit card terminals. This is commonly used by e-commerce stores and online businesses. The virtual credit card terminals allow merchants to accept online payments securely from their computers whether it is a one-time payment deal or a recurring bill. This type of credit card processing is also ideal for businesses who transact through mail or telephone orders. Business owners can manually enter the credit card transaction with the use of any computer as long as it has access to the internet.
PCI Compliant Credit Card Processing
For business owners or merchants, it is important to be able to improve their customer service any way they can and one way is to be able to accept credit card payments for their customer’s purchases. But most of all, they would of course want to keep their customers and their business protected from any credit card fraud as well, thus it is essential that they choose credit card processing terminals that are compliant with the standards of PCI. To help ensure the security of the credit card, the terminals must have the features of address verification system or AVS which will prompt the cardholder for their zip code for authorization and the end-to-end encryption or E2EE which encrypts the credit card information from the point of swipe.