If you are a merchant who wishes to enable your customers to pay by credit card for their purchases, it is recommended that you compare credit card terminals before choosing a type that meets the requirements you have. Merchants can use many different types of credit card terminals, which mostly have the same basic function – allowing credit card swiping and the manual input of data while submitting the data to the merchant’s service provider database.
To Compare Credit Card Terminals
Many of the newer card terminal models:
- VeriFone credit card terminals
- Omni credit card terminals
- Credit card terminals by Ingenico,
These can verify and process gift cards, debit cards, credit cards and personal checks from customers. These also work with different technologies and networks, so you must compare credit card terminals before opting to get a credit card machine for your business – one that may utilize satellite networks, cellular networks, the Internet, or standard telephone lines to transmit and verify data such as credit card information.
These credit card terminals typically facilitate the transmission of card data to execute a transaction between the merchant and the customer, by way of the merchant bank account, a type of account that accepts payments made with credit cards or debit cards. This kind of account also process and document any transactions made between retailers and merchant banks and payment processing services to settle transactions made with the aforementioned credit cards and debit cards.
The Basics To Compare Credit Card Terminals
When you compare credit card terminals, ostensibly with the purpose of identifying reliable, but cheap credit card terminals for your business, you also need to know the basics about how these transactions work.
- Currently, the vast majority of transactions made with credit cards and debit cards employ messages sent electronically to convey card data for the receipt of funds, documentation, deposit, and authorization of any amounts involved in these transactions.
- There are also numerous types of credit card sale processing, although all involve the credit card terminal “reading” a swiped card or it sending the manually inputted information to the service provider.
- Some merchants still use the seemingly outdated ARU, or automatic response unit access, or even the sending of credit card slips to the merchant processing service by way of snail mail, although these have been rendered virtually extinct by credit card terminals supported by electronic transmission systems.
When a merchant chooses to compare credit card terminals, he or she may find it difficult to select any one type due to vast numbers of options available, both for the devices and the technologies used. Some systems may involve the use of smartphones and the downloading of appropriate software or applications to substitute for specialized hardware, yet also have the option of being integrated into a credit card processing system with additional hardware. There are also credit card terminals that enable the merchant to process transactions paid for by EBT or electronic benefits transfer, cards with “smart” chips, and even checks, among various means of verification used in the typical retail selling environment.
Check reader credit card terminals such as the VeriFone CR1000i, the RDM 6004, and the EC6000i are devices which allow the merchant to facilitate fast transactions with a customer who pays with checks. The check reader credit card terminal also gives the merchant protection from loss of profit due to bad checks, while enabling transactions which use credit cards. These wireless devices can verify the authenticity of issued checks over telephone lines, cellular networks, satellite networks, or the Internet via connections to authenticating sources. Many of these check reader credit card terminals can also process gift cards, as well as credit and debit cards, while verifying checks issued by the customer for payment.
Looking More Into Check Reader Credit Card Terminals
The VeriFone CR1000i is an example of check reader credit card terminals currently in use by numerous merchants to fast-track payment transactions made by check.
- This compact verification device allows for universal connectivity to many related devices and networks, the remote downloading of information from connected databases, and a full range of compatibility with popular software and devices.
- The CR1000i is well known for its reliability, as it permits quick check verification with a single accurate pass of the check over the device’s sensor.
- Its ease of use gives even the novice salesperson the ability to become familiarized with the device and how it works over a relatively short period of training time, as compared to more complex interfaces hosted by other similar check reader terminals, making it a great addition to any merchant’s VeriFone system of payment.
- The VeriFone terminal also captures MICR data at high read rates, performs tests for automatic self-diagnosis, and the correct and precise identification of any hardware or software problems with the push of a button.
- It can also read, as mentioned above, checks at a single pass, or checks that are folded or crumpled.
- The remote downloading capabilities are also remarkable, with full or partial downloads permitted in situ.
- As the downloads do not require that the machine be moved for updates, downtime is mitigated when any issues occur, thus resulting in low-cost technical support , especially with the simpler system of cable connections (a few cables compared to several on competing models).
- Formats for the output of data for transmission to the host system or database may easily be defined and modified by the user, which allows tailor-made check guarantee services the merchant uses, or those he or she will configure to use in the future.
- The VeriFone check reader credit card terminal can also be configured or reconfigured via VeriFone or ECR (Electronic Cash Register) terminals and remote software downloads. This device can also verify specially-formatted local checks.
Aside from the VeriFone CR1000i, a merchant can also utilize the RDM6004 and the EC6000i, among many popular Bancnet credit card terminals and CDMA wireless credit card terminals, to facilitate transactions based on check payments. These check reader credit card terminals have been found to be accurate and reliable, utilizing protocols compatible with many major ECR and POS systems.