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What are the different kinds of Merchant Credit Cards?
Home » Small Business » Merchant Credit Card Accounts » What are the different kinds of Merchant Credit Cards?There are four major Merchant Credit Card options available—Terminal Processing, PC processing, Internet Processing, and Wireless Processing.
1. Terminal Processing. Point of Sale Terminals process credit cards, debit cards, checks, smart chip cards, electronic benefits transfer (EBT), and other electronical transactions. They are used in a traditional retail environment that has "face-to-face" transactions, like a grocery store. The merchant swipes the customer’s card through the terminal or keys in the payment information and the terminal does the rest.
2. PC Processing. Merchant Credit Card Processing Software packages let you process all major credit cards and gift cards on your existing computer. Software processing helps reduce fraud losses and may save time and money. Additional hardware is not needed and the system works for many kinds of companies. A software package in retail locations can be used instead of a stand-alone terminal, and it is upgradeable so it will not become obsolete quickly. There are several software packages and options include a card swiper, multi-users, password protection, multiple payment types, and PIN pads.
3. Internet Processing. The Internet system can be used to submit, authorize, capture credit card and electronic check transactions for taking orders over the Web. You can still manually process mail and telephone credit card transactions, just like on a physical terminal, but you can access it from any Internet connection in the world. You link your web site to the payment system in order to accept credit cards from customers.
4. Wireless Credit Card Processing. Wireless credit card processing increases sales, saves time, and reduces operating expenses. You accept credit card transactions wherever you are, without depending on phone lines. Wireless is small, lightweight, and portable enough to be carried in your pocket. No second phone line is needed which means no renting phone lines at tradeshows. Wireless processing reduces the amount of cash you handle.
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