For any retail entity that has point of sale transactions such as restaurants, supermarkets or retail stores there is a need for terminals to accept credit card payments.
As a retailer, you need to swipe a customers Visa or MasterCard through a terminal, enter the amount payable and complete the transaction – all in a matter of few seconds.
Credit Card Terminals are not too expensive anymore and you can purchase the most basic machine for just a few hundred dollars. There are various models available with varied features, as a merchant offering credit card service you must evaluate and decide what features you need the most. Be sure to select a machine that supports AVS (Address Verification System) as it helps in reducing the likelihood of fraudulent transactions.
Let’s quickly look at some of the common models of Swipe Terminals that are available.
- Stand Alone Terminals – They are very basic terminals and can be used if you are just starting out.
- Wireless Terminal – These terminals will function without phone lines or power outlets and give you the flexibility to move your terminal from one location to another.
- Terminal with Printer – Very handy as it comes with a built-in terminal; you don’t need to attach a separate printer.
- Pin Pads- These allow you to process payments made by ATM cards through your credit card terminal.
- Printers – To print receipts quickly at the time of transaction.
There are options for everybody, as a merchant offering credit card payment services you need to study and evaluate what is the best to type for your needs.