Explanation of Credit Card Processing Solutions

n order to process credit and debit cards through your merchant account, you need to decide which processing solution is right for you.
Retail Swipe Terminal - This particular solution is for retail and storefront merchants who see their customers face-to-face. This type of solution incurs the lowest merchant account processing fees since you actually are able to swipe the customers credit card through the terminal. It is believed that orders that are swiped have a lower fraud risk, hence the reason for the lower processing fees. Check out our Complete Guide to Retail Merchant Accounts & POS Swipe Terminals.
Real-Time Processing - This is the solution for businesses on the Internet. Real-Time allows you to automatically process credit card orders through your merchant account with no assistance needed on your end. Everything is automated, and the funds transferred into the merchant account, from the cardholder, is deposited into your business checking account, within a few days. All Real-Time solutions are secure and the purchase of a secure certificate is not usually required. Get more information on a real-time internet merchant account.
Virtual Terminal - If you are a merchant on the Internet and expect to receive orders via phone, fax or mail then getting a Virtual Terminal solution (along with a Real-Time processing solution) is the best route to go. The Virtual Terminal is a secure website where you login and manually type in a customers credit card information. Once the information is submitted, it is securely processed and funds are then deposited into your merchant account within a few days. A Virtual Terminal can be accessed securely from any computer connected to the Internet. Most all Real-Time processing solutions also come with a Virtual Terminal at little or no additional cost. Virtual Terminals can also double as good mobile processing solutions, click here for more information.
Wireless Merchant Solutions - There are two types of mobile solutions, solutions that allow you to swipe a credit card in a mobile environment and Touch-Tone solutions that allow you to manually enter card information into a touch-tone phone. The Touch-Tone solutions are usually good for smaller mobile merchants that want to process credit cards in a mobile environment without high startup costs. The wireless swipe terminal solutions are great for merchants that don't mind purchasing the terminal up front (purchasing is usually better than free terminal options as often times free terminals come with hefty termination fees). Both the touch-tone and wireless swipe solutions have benefits, it really depends on your business needs in the area of credit card acceptance. Find out more about available wireless merchant account options.