How to Choose the Right Credit Card Terminal

May 05, 2017

Choosing the credit card processing terminal that is the right fit for your business needs can help you minimize processing costs and boost your profits. Credit card terminals come in a variety of types. With a reputable payment processor like emerchantbroker.com (EMB), you can get the best for your business needs.

There are cases when you should have more than one merchant account to meet your processing needs. This is true of those business owners who operate a retail establishment and have an online presence as well. Some terminals process multiple merchant account transactions and are the right choice for such business needs.

Other terminals are able to connect to the processor using a dedicated phone line. Latest models can do this through IP connections instead of using phone lines.

If you’re considering opening a merchant account and need a credit card terminal for your business, turn to EMB to take your business off the ground and start growing. EMB is voted the #1 high risk processor in the US and boasts an A+ rating with the BBB.

So what type of credit card terminals do exist?

  • Traditional Retail/ Countertop Terminals

If you have face-to-face contact with your customers, you probably run a retail shop or a restaurant. In this case, you’ll need face-to-face, “card-present” (CP) transactions, that is the cardholder and credit card are physically present at the time of the sale. If this is your case, you should choose a countertop point-of-sale model.

You can also use a countertop terminal for “card-not-present” (CNP) transactions. Particularly, if you are a MOTO merchant who takes mail order or telephone/fax orders, or if you’re running an online business, you can simply key the credit card information into the terminal and process the sale.

  • Mobile and Wireless Terminals

In this case, you need to set up a mobile merchant account with your processor and download the appropriate app to your smartphone or tablet. This will enable you to accept major credit cards and signature debit cards.

  • Virtual Terminal

A virtual terminal is the link merchants need for accepting credit card and ACH payments online securely and efficiently from their own computer.

Your processor will use your computer’s web browser and Internet connection in conjunction with an attached USB credit card swipe reader so that you can start processing all major credit cards, signature debit cards and ACH payments.

When looking for a credit card terminal, you should figure out which one will best suit your payment processing needs. EMB’s professional team can help you open a merchant account and choose the right terminal for your business so you can start accepting credit and debit cards without challenges.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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