|
|
What is a small business credit card terminal?A credit card terminal is a piece of electronic equipment that merchants use to accept credit cards at point of sale transactions. The credit card terminal works by having a swipe area on the machine itself, where credit cards can be swiped through. In addition, there are various number pads that allow the manual inputting of credit card information, as well as other functions and features. A small business credit card terminal is typically powered by an electrical cord, and connects to networks and issuing banks with the use of a telephone line or an ethernet cable. In some cases, a small business credit card terminal may be battery powered and connect to wireless networks. What features come with a small business credit card terminal?A basic small business credit card terminal will have the following basic features: first, a keypad. The keypad offers programming functionality, and also a number pad that is used in conjunction with the function keys to input credit card information data manually. A simple small business credit card terminal may only have nine numeric keys and one or two programming keys, while a more extensive small business credit card terminal may have forty or more keys. Then there is the display, which shows information on each transaction. The magnetic stripe reader is a basic feature included with all small business credit card terminals, and reads the information from credit cards that are swiped through it. Finally, another feature of many small business credit card terminals is a printer, which prints out receipts for transactions and financial statements. What else can a small business credit card terminal do?In addition to handling credit card transactions, a small business credit card terminal can often handle debit card transactions. A debit card, unlike a credit card, requires that a customer inputs a four digit pin number in order to authorize the transaction. A more expensive small business credit card terminal may even be able to handle gift cards for a specific store, including loading them and checking balances. Another popular type of small business credit card terminal is one that can read and process personal checks. Many grocery stores take advantage of these small business credit card terminals. Where can I buy a small business credit card terminal?If you are on a tight budget, consider starting your search for a small business credit card terminal with the merchant account provider you have your merchant account through. Depending on promotions and even the terms of your contract, you may be eligible for a discounted or even free small business credit card terminal! The next best place to go is online and offline auction and wholesale centers. Both venues offer excellently priced small business credit card terminals that can meet the needs of your business. |