A Look At Smart Terminals

Jul 26, 2017

The so-called smart terminals are surging in popularity among business owners. These new POS terminals are tiny units, using much of the same technology that today’s most advanced smartphones and tablets are doing. The difference between these 2 types of terminals is that smart terminals have business-oriented design. So, they’re often equipped with card readers, can accept near field communication or Bluetooth payments, and come with thermal printers.

Smart terminals have a sleek design and are portable and flexible. So, they can be chosen for a variety of business functions. It should be noted that smart terminals may not be the best fit for large enterprise-level corporations with lots of inventory or those that need to maintain large databases.

Thanks to their SaaS backbones, smart terminals can easily be kept in good health. That’s why they’re the preferred choice for midsize businesses.

Are you running an online business and interested in payment processing? eMerchantbroker.com offers high risk credit card processing to merchants of any type. EMB is voted the #1 high risk processor in the US and boasts an A+ rating with the BBB. Moreover, EMB is rated A by Card Payment Options and is named one of Inc. 500’s Fastest Growing Companies of 2016.

What Do Smart Terminals Offer?

Smart terminals offer the following features:

  • You can take smart terminals anywhere as they’re not only equipped with a battery, but also have the ability to connect to cellular networks or to function in offline mode.
  • Smart terminals can easily adapt to your needs thanks to endlessly customizable software There are packages that offer customer service records management, time clock capabilities or QuickBooks integration.
  • Smart terminals can adapt fast to new encryption levels thanks to their cloud-based nature.
  • Smart terminals offer integrated systems to enable managing everything from online ordering to detailed financial reporting.
  • Smart terminals offer easy data accessibility as they store data in the cloud.
  • Smart terminals offer frequent updates, which means bug fixes and new updates happen much more frequently with cloud-based software.
  • Smart terminals are cost efficient, meaning they’re significantly less expensive and require fewer upfront costs.
  • Smart terminals feature innovative hardware, meaning they can support mobile devices.

The number of companies that can benefit from smaller, smarter, less intrusive devices between their sales personnel and their customers is growing with rapid advances. Based on a number of things, smart terminals can be viewed as terminals of the future for small to midsize businesses that are on the lookout for efficiency and sustainability in the field.

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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 on 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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