3 Considerations Before Accepting a Free Credit Card Terminal

Many companies that offer credit card processing services offer free credit card terminals as a way to attract merchants to open an account. While obtaining a free terminal is excellent, you should consider three things before taking this gift to register and open an account.

Research on business diversity

It is important to investigate not only third-party credit card companies, but also financial institutions and banks. Take the time to research reliability and reputation, and do not be afraid to ask for references from current clients.

Also, before making a decision, make sure you are charging for the processor and the discount rate. Is there a fee for the transaction or a single monthly fee? Does the company consider how long it has been in the business and the volume of sales transactions it produces at its prices? If the bank, do you need to open a bank account for financing? Can you choose between buying or renting equipment?

Always read the contract carefully. Make sure you understand this and you can do it. Finally, ask about customer service and what is your response time and procedures when processing is interrupted.

Choice of service

You can choose different types of transaction processing services, depending on your type of business. This greatly affects the terminal of a free credit card, which will work best for your business.

For restaurants, retail stores and other businesses that require rapid processing of personal cards, select a service that accepts all major credit cards along with the ability to accept gift cards. Also, choose a service that integrates easily with most sales systems.

If you have an online business, you may need more sophisticated solutions that include security features and are integrated with your accounting software and shopping cart systems.

If you take your business to the road, you need a mobile terminal. Most services to handle commercial services offer mobile credit card processing, ideal for those who sell at fairs, exhibitions, art festivals, farmers’ markets, street markets, etc. The terminal that connects through the wireless network is ideal for mobile devices companies.

Choose the best terminal

To find a terminal that suits your business, first consider the needs of your business. If you make personal transactions, the correct option is a terminal to read cards, also known as “real system card”. If there is no real credit card, in situations such as telephone orders or mail order, select the “no card” terminal, which allows you to manually enter the card number. This is also true when accepting debit cards that require a terminal with a PIN keypad.

Also, consider whether you need to access several merchant accounts through a terminal. Some terminal systems provide centralized reports, simplify accounting and accounting.