Selecting the right credit card processing terminal is crucial for businesses aiming to accept credit card payments efficiently. Before committing to a specific terminal, carefully evaluate your business needs and customer preferences.
Consider whether a terminal is truly necessary for your business model. While mail-order and online businesses might not require a physical terminal, brick-and-mortar stores benefit significantly from having a device for in-person transactions.
Evaluate the connection type that suits your business infrastructure. Older terminals traditionally used telephone lines, which remain viable if you have a dedicated line or can share it with a fax machine. Newer models offer Internet or wireless connections, offering greater flexibility, especially if your business has existing internet infrastructure. Consult with your payment processor to determine the most appropriate transmission method.
Think about the functionalities you require from your terminal. Determine if you need features like automatic dual receipt printing, traditional carbon paper receipts, or a digital signature capture pad. Tap-and-go terminals offer added convenience for customers with compatible cards. These terminals also accommodate traditional card swipes.
Consider the option of accepting debit cards. Terminals with PIN pads allow customers to securely enter their PINs, potentially reducing processing fees compared to processing debit cards as credit transactions. It’s a secure and beneficial feature to consider.
Carefully weigh your business and customer needs against the cost of different terminals offered by your payment processor. Some processors may provide equipment for free, making it more appealing to acquire all the features you desire.