When it comes to merchant accounts, some wireless business owners will sign up with the cheapest service provider they can find. Others won’t settle for anything less than the company with the newest and flashiest Tpv balanza technology. But smart wireless business owners shop around until they locate the most cost-effective merchant services provider that best fits their company’s needs.
If you want to make an intelligent decision about which credit card processing solution is best for your wireless business, you must first educate yourself on the basics of merchant account choices.
Point-of-Sale Software
How it works:
Credit card information is entered into a computer or dedicated terminal and then sent to the processor over phone lines with the aid of a modem.
Benefits:
The authentication process is completed in seconds, and POS software usually comes with programs that can work hand-in-hand with your inventory and accounting systems.
Best suited for:
Businesses who receive payments over the phone or fax lines or through e-mail or traditional mail services.
Real-time Internet Processing
How it Works:
The customer enters the credit card information into a secure website, and the data goes directly to the processing entity.
Benefits:
The entire authentication process is even faster than with point-of-sale software, and the funds are automatically deposited into the company’s account within a day or two.
Best suited for:
Internet businesses or companies who conduct a high number of transactions on a daily basis
Wireless Processing
How it Works:
A customer’s credit card information is entered into or swiped through a portable terminal which can be a stand-alone device or attached to a cell phone or laptop computer. The data is transmitted digitally to the processing center.
Benefits:
Allows credit card payments to be processed on-site immediately instead of having to record the information and enter it into a computer when you return to your base of operations.