When you first started “shopping” around for a credit card reader, did you ever expect to find so many choices? There are connected, wireless and even virtual terminals you can select from. The number of choices can make your head spin, that’s why North American Bancard has put together this short list you can use for reference when choosing what’s right for your business. We’ll give you what you need to know about each type, so you can make an educated decision on what fits your unique processing needs.
Here are a few things to consider when you’re determining which terminal is best for your business:
If your business involves face-to-face contact with your customers, a traditional terminal could best fit your needs. From retailers to restaurant owners, traditional terminals allow for “card present” transactions to be completed. This type of transaction is when the cardholder and the credit card are both present at the time of the transaction at the merchant’s brick and mortar location. A countertop card reader (another term for traditional terminals) enables you to swipe customers’ credit cards through the reader to process the transaction. Depending on the model you chose, a PIN pad can be added to complete debit and EBT card transactions. Many models of traditional terminals have an internal printer that will allow you to print receipts. If the model you select doesn’t come equipped with a printer, you can add an external printer to provide you and your customers with receipts.
Mobile and Tablet
Wireless credit card readers are perfect for businesses that are always on the go. Mobile POS systems, like Phone Swipe, give you the opportunity to process transactions anywhere, anytime. These are great for companies and employees who travel a lot, and they provide a convenience some never knew they could have. Phone Swipe turns your iPhone, or Android smartphone or tablet into a credit card reader that can put your business’s operations at your fingertips. Phone Swipe offers intuitive applications that provide real-time reporting and customization not found in another credit card reader. Things to consider when choosing a mobile card reader are weight, durability, compatibility and battery life.
There are portable machines that are similar to traditional terminals in look and feel, but have one distinctive difference: they’re wireless! Built with rugged use in mind, these wireless terminals can handle most electronic payments including mobile wallets, EMV and magnetic stripe. These are ideal for outdoor retail/restaurants where multiple devices are needed. Commonly called “portables,” these machines provide merchants the chance to accept payments anytime, anywhere.
Online terminals can help improve cash flow and attract new customers for businesses everywhere. Virtual terminals allow businesses to process card-not-present transactions (CNP) online or over the phone. With virtual terminals, there is no need for a physical card terminal since the software processes the transactions. All you have to do is enter the credit card number - the software will handle the authorization and processing from there.
If you have any questions on what type of terminals North American Bancard has to offer, contact us at 877-840-1952, or visit our website.