Merchant Credit Card Terminal : Different Types And Uses

If you have a standard business, a place where customers come to purchase merchandise, if you want to stay competitive and achieve great success, you have to make a number of wise decisions.  One of these is accepting several different types of credit cards that make buying more convenient and easier for your patrons.[br]

If you have a standard business, a place where customers come to purchase merchandise, if you want to stay competitive and achieve great success, you have to make a number of wise decisions.  One of these is accepting several different types of credit cards that make buying more convenient and easier for your patrons.[br]

To do this, you would need to establish a merchant account but each merchant, bank, or credit union that issues cards offers something slightly different.  For instance, to accept cards, you would need a merchant credit card terminal so you need an issuing company that would provide one.  Keep in mind that a merchant credit card terminal is not only beneficial to the customer but to you as the business owner too.

Today, many changes have been made to the older style of merchant credit card terminal.  Typically, you have three primary choices, which are outlined below although many other types exist.  These terminals are designed so a credit card would simply be swiped.  Connected to the internet, the customer’s card number would be scanned to determine if credit were available to cover the amount of purchases.[br]

Once authorized, the transaction would go through and a receipt would be created for the customer to sign.  As a part of the work offered by a merchant credit card terminal, a transaction number is generated for each purchase for accounting purposes.  If the card company denies the purchase, the customer would be provided with a toll-free number to call to learn why.  Sometimes, a transaction is declined because there is not the required balance available but once in awhile, the problem is due to a poor connection or an issue on the merchant’s end.

The three types of merchant credit card terminal that you would typically see include:

1.    Link Point AIO – Many business owners like this particular terminal in that all of the features are included in a single device.  This means you could accept a wide array of payment options and once a sale is made, this terminal provides several applications and identifications that make running your business more efficient.
 
2.    Eclipse – This type of merchant credit card terminal is known for being highly reliable but it also features a built-in printer that generates a dual receipt, one for the customer and one for you.  Additionally, this terminal processes credit cards, along with debit cards, traveler checks issued by American Express, and even electronic checks using the built-in check reader.  With this, you could run checks through in real time, which avoids fraudulent and insufficient fund payments via check.

3.    Magic 6000 – The third merchant credit card terminal that many business owners use is this one, which also has a built-in printer.  What makes this terminal so unique is that it is capable of accepting gift cards as well.  If your store sells gift cards, you would simply enter the amount being put on the gift card and then swipe it using the terminal.

4.    Bank Point – While this is not one of the three most popular options for a merchant credit card terminal, it is still worth mentioning.  This is a small pin pad device so small it fits in the palm of a hand.  This particular terminal is usually coupled with one of the primary terminals in that it provides an extra level of protection.  When your customer or you key in credit card or debit card numbers, the terminal would make the process more secure.