Card Machines: Terminology your business needs to know.

Check out our quick cheatsheet glossary to get you up to speed with accepting card machine payment with a merchant account

Credit Card Processor

Credit Card processors are 3rd party entities that provide the ability to manage the transfer of funds from a customer’s bank account to the merchants. Allowing the merchant to accept credit and debit cards in payment for goods and services rendered.

Credit Card Processor

Credit Card processors are 3rd party entities that provide the ability to manage the transfer of funds from a customer’s bank account to the merchants. Allowing the merchant to accept credit and debit cards in payment for goods and services rendered.

Credit Card Terminal

Credit card terminals are the physical machine responsible for inputting the credit card information and delivering this information to the processor. There are 3 main types of terminals – Dial Up, IP, and Wireless.

Dial Up Terminals

The most popular and widely used terminal type, dial-up terminals are the most standard type of terminal available today. Connections are made over a standard phone line.

Door to Door

Credit card machines/terminals that are best suited for individuals that will be traveling and processing payments on site.

High Volume

Credit card machines/terminals that are best suited for high volume accounts

Home-Based

Credit card machines/terminals that are best suited for businesses that will be processing the cards from their home, processing options will likely include call/ write in orders

IP Terminals

These terminals are very similar to Dial Up terminals but IP terminals offer a module allowing the connection to take place over an internet connection as opposed to a phone line. These terminals offer faster processing speeds that dial up terminals.

Lodging

Credit card machines/terminals that are best suited for hotels, bed and breakfast and other lodging locations

Mail/Phone Order

Credit card machines/terminals that are best suited for businesses whose processing options will either be in the form of call/ write in orders

Mobile

Credit card machines/terminals that are best suited for businesses who’s processing will occurring offsite at various locations

Mobile (w/tips)

Credit card machines/terminals that are best suited for businesses who’s processing will occurring offsite at various locations that include the use of tips; pizza delivery, and cab services are examples of this sort of account

Quick Service

Credit card machines/terminals that are best suited for businesses which will be processing large amounts of clients in a short amount of time; these accounts include coffee shops, fast food locations and convenience stores

Restaurant

Credit card machines/terminals that are best suited for restaurants and other sit down dining establishments

Retail

Credit card machines/terminals that are best suited for retail store front locations.

Tradeshow

Credit card machines/terminals that are best suited for individuals whose primary locations will be tradeshows

Utility Service

These credit card machines are best suited for businesses that perform their jobs onsite. Electricians, plumbers, carpenters that will want to flexibility and durability of traveling with these machines.

Wireless Terminals

Wireless terminals connect through wireless networks, examples include CDMA/GPRS, and allow for processing to take place with a hard line connection.

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