Many merchants face the trouble of sifting through numerous credit card machine options, looking for a terminal that fits with their business. There are many different types of payment terminals to choose from, and you need one that’s going to help your business operate the most efficiently.
Selecting the right payment processing terminal will not only help reduce your processing costs, but it’ll also increase your profits. Let’s take a look at some payment terminal options and the types of businesses that best match their features.
Card-Present Transactions → Countertop Point-of-Sale
Card Not Present Transactions → Virtual Terminals
On-the-Go Merchants → Mobile & Wireless Terminals
Online & eCommerce → Shopping Carts
The Traditional Retail Payment Terminal
Businesses such as retail shops or restaurants involve face-to-face interactions with your customers, therefore your credit card transactions with them are exclusively in-person. These are referred to as “card-present” transactions, which basically just means the cardholder and credit card is physically present at the time of sale. For this type of transaction, your best payment terminal option would be a countertop point-of-sale (POS) model.
Countertop credit card terminals allow you to swipe your customers’ credit cards through a credit card reader to process the transaction. If you want to add a PIN pad, you’re enabling greater security, and in that case, you can also process debit cards and EBT cards as well.
You also have the option to add a printer to a countertop terminal. You can then print out a credit card receipt that the customer signs (that you retain for your records), and a copy is printed for the customer as well.
While card-present transactions are standard, it’s also possible to use a countertop payment terminal in a “card-not-present” (CNP) situation. Merchants who accept mail, telephone/fax, or online orders can send the credit card information to the terminal (via keyed in transactions) in order to process the sale.Learn More
Recommended Credit Card Payments Solutions
If your business needs traditional credit card terminals, consider the following:
Dejavoo Z11 – The Z11 countertop terminal has EMV and NFC capabilities built-in, and can accept all modern payment methods, including mobile and contactless credit card payments (e.g., Apple Pay, Samsung Pay, Google Wallet, Visa payWave, MasterCard PayPass). It has a touchscreen display and PIN pad, making it easy for customers to enter their payment information at checkout.
Dejavoo Z8 – The Z8 is similar to the Z11 in that it also supports EMV and NFC technology. Like the Z11, this credit card machine also lets you accept both mobile and contactless debit card and credit card payments. The key difference is that the Z8 isn’t a touchscreen device.
PAX A920 – The A90 comes with a 5″ IPS touchscreen and 2″ thermal printer, making it a sleek and portable payment terminal that works both as a countertop card reader and mobile device. Powered by an Android operating system, the A90 lets you accept payments behind the counter or even on the sales floor.
Mobile and Wireless Payment Terminals
Outside of traditional retail are mobile and wireless terminals. These usually work best for merchants and service professionals who operate in the field and need payments collected at the customer’s home. Mobile and wireless credit card terminals work over an internet connection (either via WiFi or a cellular network), and are a great solution if you’re an on-the-spot merchant. These terminals also offer a better alternative if you’re tired of billing your customers and waiting for the payments to come through.
These devices are also gaining popularity in retail and hospitality. Thanks to their mobile functionality, retailers can ring up sales on the shop floor, while restaurant staff can bring the checkout experience to diners. Both instances help streamline payment processing and improve guests’ experiences.
Stax offers NPC mobile readers for small to mid-sized merchants looking to accept mobile payments anywhere they conduct business. With absolutely no additional equipment to purchase, all a merchant has to do is download the app on their mobile device, activate the application, and right then, they have a handheld terminal at their fingertips. This mobile payment processing solution is compatible with iPhone, Android, and RIM operating systems, and it’s supported by all major wireless providers.
Wireless terminals could also be the processing solution your business needs. These are compact and portable, and they allow you to keep up with sales in the field with more secure processing.
Mobile and wireless terminals enable merchants to go beyond traditional point-of-sale and cash-only operations. They both provide a new, updated, and innovative way to accept credit card payments from customers.
Recommended Payment Solutions
The following payment solutions are our top recommendations for businesses that need a mobile-friendly payment terminal.
Stax Pay is a mobile app that’s available both on iOS and Android platforms. This powerful app enables you to accept payments using your mobile device. Just connect it with Stax’s Bluetooth mobile reader, and you can start swiping EMV chip cards effortlessly. Plus, with its PCI-compliant tokenization, you can rest assured knowing that your customers’ credit card information stays secure.
SwipeSimple: Mobile Chip Reader
The Mobile Chip Reader by SwipeSimple is a lightweight and compact device that has built in contactless technology, as well as a magstripe and EMV chip reader. The device connects to your phone via Bluetooth and is meant to be used with the SwipeSimple mobile app.
Virtual Credit Card Processing Terminals/eCommerce
Today’s customers rely heavily on the Internet to find services and shop for products. Merchants who accept “card-not-present” transactions, either online or over the phone, would benefit from a virtual terminal. Since there’s no need for a physical and traditional credit card terminal, a virtual terminal uses software to process online transactions.
At Stax, we use NPC Secure as a virtual terminal for our internet-based merchants who process and manage telephone, and even face-to-face transactions. As long as you have an internet connection, you can process payments directly through your website.
At Stax, we have three different subscription-based pricing plans as well as access to direct cost processing with no contract, no markup, and no hidden fees. Learn more about how Stax can benefit your business and eliminate those higher processing fees.
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Selecting the Right Payment Terminals for Your Small Business
There are numerous credit card terminals, readers, and solutions in the market, so selecting the best one can feel overwhelming. The best thing to do is to consider your payment terminals and processing needs. Do a bit introspection for your business and ask yourself questions like:
- What does your checkout process look like?
- What payment types do you need to accept?
- Will you need a mobile card reader?
It’s also worth looking at your credit card processing volumes. Most credit card and debit card processors charge a markup based on your transaction values, which means the more you process with your credit card processor, the more you pay.
At Stax, we have three different subscription-based pricing plans as well as access to direct cost processing with no contract, no markup, and no hidden fees. Rather than taking a cut out of your sales, we simply charge a flat membership fee and give you access to wholesale credit card processing costs. With Stax, businesses often save up to 40% in payment processing costs.
Get in touch with Stax today to learn more about the credit card terminals we offer and the payment solutions that would benefit your business the most.