Fewer people carry cash today. Plastic money is the new form of transaction for monetary services since it is safer and easier to budget with. Businesses that accept cash only lose hundreds of customers on a daily basis. Making the switch to accepting credit cards is also greatly beneficial to your business. The greatest being protecting yourself from cash register robberies
Once you decide to make the move to Credit Card Processing, it is important to know the various options available in credit card processing services.
Manual Credit Card Processing
This technique involves making a copy of the customer’s card. The information from the card is manually typed onto a computing device and forwarded to the processing service provider. This process is very tedious and therefore not suitable for businesses that frequently use credit card transactions.
Online Credit Card Processing
Online credit card processing services are suitable for E-commerce ventures. Individuals who run online shops and services require a payment means that is reliable for clients. The credit card processing software if featured in your website where clients provide credit card information and the amount corresponding to the product or service is deducted from their accounts.
Terminal Credit card reader
These types of card readers use a variety of technology solutions the most common being the magnetic strip. The terminal is attached to the cash register. Payments are processed using an internet connection. Terminals can be mobile or in a fixed position. They are the most convenient solutions for credit card processing.
Mobile Credit Card Processing services
You can also turn your mobile device into a credit card reader using an attached terminal. There are terminals that are specifically designed to fit into smart phones and tabs among other mobile devices. The credit card is swiped on the attached terminal and the credit card information processed through a merchant service.
This is the best kind of credit card reader for individuals who require being highly mobile in their business. Individuals such as door-to-door sales representatives or those who are constantly travelling can greatly benefit from the flexibility offered by mobile credit card processing.