How to Select the Right Credit Card Processing Equipment
Credit card processing technology continues to advance, and choosing the right type of processing equipment to meet your unique business needs may seem overwhelming. However, as long as you understand the different types of equipment, as well as how each can improve your business, then you’re on the right track to selecting the best fit.
What to Consider
The right credit card processing equipment depends on your business’ needs, goals and daily operations. The first thing to consider is why you are accepting credit cards in the first place. Are you a new business with a need to expand your customer base? Do you want to start selling products on the Internet? Do you need a way to accept payments while at trade shows or fairs? If you work primarily from home, for example, you would need processing equipment that allows you to accept card-not-present payments from a remote location. Restaurant merchants may need processing equipment with software that helps simplify tab transfers and gratuity. For those with e-commerce businesses, the need for a secure way to accept payments online is critical.
Before you choose the processing equipment for your business, consider what your business needs to simplify payments, increase profits and improve service.
Types of Processing Equipment
Three basic types of credit card processing equipment include stationary machines, wireless machines and virtual terminals.
- Stationary processing machines refer to the traditional credit card terminals with which most people are familiar, as they are often used during face-to-face, card-present transactions at restaurants, retail and grocery stores. These are designed to read the magnetic stripe on credit cards, and basic features include the magnetic stripe reader, a keypad, display screen, PIN pad and printer. They require either a phone line or Internet connection in order to send data for processing and authorization.
- Wireless processing machines work the same way as stationary machines, with magnetic stripe readers and keypads for easy use. However, wireless equipment does not require a direct connection to a phone line or network. Wireless processing solutions are ideal for merchants who must accept credit cards away from a brick-and-mortar facility, such as drivers, service and delivery workers, or other merchants constantly on-the-go.
- Virtual credit card terminals allow merchants to accept credit cards from any computer with an Internet connection, and are ideal for merchants who work from home or process mainly mail order and telephone order transactions. Merchants can enter data manually and upload transactions in a single batch for more efficient and accurate processing.
If you accept credit cards for business, compliance with PCI DSS standards is required to help protect your business and your customers. Credit card processing equipment and products from BluePay complies with PCI standards for the highest levels of data security. Contact us today to ask about tokenization, end-to-end encryption (E2EE) and more.