Choosing a Merchant Credit Card Terminal

Choosing a merchant credit card terminal is a bit more involved than most people think at first. One of the initial decisions to make is if you really need one or not. If you should decide you need one, then you have to look at all the available types and models and all the different features. You will then be in a position to shop for the prices so you can get the right one to best fit your business situation. There are plenty of them out there, so it pays to take a hard look at a wide range of them before deciding on any particular one.

The majority of these terminals are designed for the ‘one on one’ selling situation. The customer wants to buy something, so you swipe their card, then the transaction takes place with the receipts being produced at the end. Or if the card won’t swipe, then you can manually input the numbers using the keypad, and make the sale this way. These face-to-face transactions are known as POS, or ‘Point of Sale’ dealings.

By using the keypad, you can also take orders over the phone. You just take the numbers, input them, and make the transaction while on the phone. Most anyone who opens a merchant account is going to need some kind of a terminal for conducting their business. Many business people have more than just the one merchant account. This means they need to find a terminal that can fulfill this need, and handle more than one workstation. And they do exist. There are terminals that can handle up to nine different accounts.

From $100 to over $1,000 is the average price range of merchant credit card terminal. This will of course vary from one model to the other, and will depend on features, printers, and age of the terminal. There are quite a few brands to choose from, so it pays in the long run to take your time and see what all you have available to work with, and just what functions you need from your terminal.

A big factor for a lot of business owners is in the response time of the terminal. The old models that were designed for working from a phone line connection could take up to ten seconds to complete a transaction. But these newer models designed for high speed Internet or DSL have cut that time down to a couple of seconds. And it’s the same for the wireless connection models that we see today too.

Another good thing for merchants to consider today is having the being able to take debit cards and ATM cards. If you’re going to plan on taking these, then your terminal will have to contain a ‘PIN’ pad for inputting pin numbers for access to money. You’ll make a lot of extra sales just because of having this option available for your customers. It’s very convenient, and will bring in more revenue.

Whether to buy or lease your terminal is yet another question you’ll have to answer. The answer is different from merchant to merchant, depending on the situation, and on the cost. Leasing, of course, is going to keep costing every so often, and a purchase will be a one-time deal. Still, for some, leasing works out better in spite of the logical conclusion that buying is cheaper in the long run. It’s something you need to evaluate for your own situation.

Choosing a merchant credit card terminal can be a bit complicated. But there’s certainly one out there that can do the job you require. These POS, or ‘Point of Sale’ moneymakers are just what most businesses need in order to conduct their business and take in money. In today’s world, trying to run a business without the ability to accept credit or debit cards is just a foolish notion. But getting the right terminal for your business takes a little comparison-shopping.

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