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Credit Card Terminals Several vendors will push the idea of leasing or renting a credit card terminal. They aren't that expensive, and I would certainly recommend buying the terminal, as long at it is not part of a proprietary system. There are three main types of credit card terminals available to you; traditional credit card terminals (with or without printers); wireless credit card terminals, and virtual or software-based credit card terminals. Traditional credit card terminals: Basic credit card terminals include a magnetic stripe reader, a keypad to enter prices and other information, and a small display. The required printer can be built-in or a separate unit. Remember that while it may be slightly easier to deal with one piece of equipment than two, the impact on your business either way will be minimal. Traditional credit card terminals have different types of displays: obviously, larger displays let you see more information at once. Displays are usually measured in lines and columns: an 8 x 20 display has 8 lines of text, 20 columns wide. Getting a backlit display, standard on most new terminals, lets you use the terminal even in low light. Keypads vary in size and number of keys. Keypads with more keys typically give you the option to assign commonly-used functions to their own key; larger keypads can improve ease of use. Wireless credit card terminals: Wireless credit card terminals provide a significant advantage for some businesses, especially those that require credit card terminals to change location. For example, taxi drivers, seasonal businesses with temporary locations, and large lot businesses can all greatly increase efficiency by accepting credit cards wirelessly. Wireless credit card terminals also have built-in printers. Important factors to consider when evaluating wireless terminals include battery life, range, weight, and shock-resistance - there's a chance you may drop it occasionally. Virtual credit card terminal: If you do business exclusively over the phone or Internet, you may not need a physical credit card terminal. Your merchant account provider should be able to provide POS software that handles the transaction: you simply type in the credit card number and the software handles the authorization. Some software-based credit card terminals use flash memory to store the software that runs them, which allows system updates to easily download and install, potentially extending the operating life of your credit card terminal. Virtual terminals are becoming much more popular. For example, the Google Deskbar, now has a Credit Card Box plug-in from Skip Jack processing. Many processors offer virtual terminals which will run on PDA systems, and even some of the cell phone systems. It works like this: You enter the credit card information through your browser and a secure Internet link provided by a merchant account service. You receive an authorization code and the funds are transferred from the customer's credit card. Presto, your wireless transaction is complete. Here are some resource and solution providers for wireless merchant services: CardService International is one of the giants of the credit card processing field with 24/7 customer service in 140 languages. They offer the LinkPoint 9100, a mobile handheld terminal for point-of-sale card transactions, which lets you conduct business anywhere, anytime. Virtual LinkPoint for Palm OS transforms handheld devices, such as the Palm i705, into virtual credit card payment processing terminals. At the Web site (www.cardserviceinternational.com), click on "Products" and look in the "Wireless" section. Call (800) 456-5902; e-mail: info@cardserviceinternational.com. Advanced Merchant Solutions - a relative newcomer to the field - is a prime example of the growth in wireless merchant services to small business. Over 95 percent of the firm's new users had no merchant account or their existing merchant account did not support mobile transactions. Advanced offers a family of services under the Pocket Verifier name. With their Pocket Verified Professional service and a Nokia Series 60 handheld device, you can transfer funds directly from a customer's credit card into your business checking account. There are no application, setup or cancellation fees and no service contracts. Visit the Web site at www.merchantanywhere.com; call (714) 449-0211; e-mail: sales@merchantanywhere.com. MerchantSeek is a free independent service that can help you find a wireless merchant account provider to suit your needs. Visit the Web site at www.merchantseek.com. Newtek Merchant Solutions offers a wide array of payment solutions to business owners, including wireless. At the home page of their Web site, click on "Wireless/Mobile" and you can apply online. Call (800) 277-6990 or visit the Web site at www.nmsasap.com. Authorize.net has been a pioneer in electronic and wireless payment processing solutions. They do not deal directly with small businesses but offer their services through a network of merchant account resellers across the country. To find one, look in the "Merchant Solutions" section of the Web site. Visit www.authorize.net; call (866) 437-0476 or e-mail: sales@authorize.net. LinkPoint International, like Authorize.net, provides wireless payment processing systems that are either co-branded or privately labeled by merchant account services nationwide. Their Web site is a good place to learn about how it works. Visit www.linkpoint.com and click on the Mobile/Wireless section.
Special Credit Card Terminal Features
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