Selecting the right credit card processing terminal is crucial for businesses aiming to efficiently and securely accept credit card payments. Before committing to a specific terminal, carefully evaluate your business needs and the features available. This guide outlines key considerations to help you make an informed decision.
Firstly, determine if a traditional credit card terminal is necessary for your operations. While e-commerce businesses or those primarily handling mail orders may not require a physical terminal, brick-and-mortar stores and businesses engaging with customers in person will greatly benefit from having a card-swiping machine.
Next, consider the type of internet connection for your terminal. Older terminals relied on telephone lines for transaction processing. This remains a viable option if you have a dedicated phone line or can share one with a fax machine. Newer models utilize internet or wireless connections, potentially offering a superior solution if your business is already wired for internet access. Consult with your payment processing company to determine the most suitable transmission type for your specific needs.
Furthermore, assess the specific functionalities you require from your credit card terminal. Decide whether you prefer a terminal that automatically prints two receipts or one that uses carbon paper. Alternatively, explore terminals equipped with a signature pad and electronic pen, enabling customers to sign directly on the device.
“Tap and Go” terminals are also available, allowing customers with compatible cards to instantly authorize payments by tapping their cards on the machine. Customers without tap-enabled cards can still use the traditional swipe method, often without requiring a signature.
Another important consideration is whether you need a terminal that accepts debit cards. These machines feature a keypad for customers to enter their PIN. Accepting debit cards can be advantageous as it often entails lower transaction fees compared to processing debit cards without PIN entry. This secure transaction method is worth considering.
In conclusion, carefully evaluate your options and weigh your business and customer needs against the cost of different terminals offered by your payment processor. Some processors may even provide equipment for free, making it even more appealing to acquire all the features you desire.