There is a wide-ranging variety of credit card terminals available in the market today. You can have your pick! However the wise business decision would be to choose a credit card terminal that addresses your needs.

Firstly, do you even need a credit card terminal? Your answer should be a definite “Yes”, if you own a retail shop or a restaurant or any other business storefront that requires face to face interaction with the customer. In these cases, the customer may want to pay via his credit card. In the physical presence of the credit card any transactions made using a credit card terminal is virtually safe and secure. When a sale is to be completed, the credit card is swiped through the terminal and the processing of the payment begins from there!

This is how a credit card terminal works. At point of sale, a customer’s credit card is swiped through the machine and he is asked to type in his numbers on the terminal keypad. The payment is then processed. Most often than not, the in-built printer or a separate printing device attached to the terminal directly prints two receipts; One is given to the customer to keep, the other one is signed by the customer and retained by the merchant.

A credit card terminal is also used by mail order or Internet order businesses, in which the card is not physically present. The merchant is required to punch in the credit card information into the terminal to process the payment. The other way around, which is advisably a better option for these businesses, is to use credit card processing software or an Internet payment gateway.

Another point that would influence your shopping for a credit card terminal is the cost factor. A credit card terminal can be purchased at a price anywhere between $119 to more than $1000. The cost of a terminal would probably depend on its expected life, the features it offers and the presence or absence of an in-built printer.

You may take a look at the variety of terminals available to you as you make your decision. Following are a few important points:

- If you have multiple businesses and different merchant accounts for them, you may want to purchase a credit card terminal that can cater to more then one merchant accounts. In fact, there are terminals available in the market that can support as many as nine merchant accounts. This kind of equipment is meant for you if you intend to use it for multiple businesses.

- Credit card terminals usually dial out using a phone line. This can be a shared line with a modem and fax machine attached to it. However, it is recommended that you do not activate call waiting on this line, in order to conduct undisturbed transactions and credit card processing.

- Using IP connections instead of a phone line not only cancels out the need for an extra phone line but also quickens the credit card processing by 2-3 seconds per transaction.

- There is also the option of a wireless terminal. This provides the convenience of portability, without the need for a phone line or an Internet connection.

- If a wireless terminal doesn’t’ fit the bill and a phone or Internet connection isn’t available, you may choose a terminal with store and forward capabilities. You can enter the information into your terminal and process it later when you have access to a phone line or Internet connection.

- You may also accept payments through ATM cards, for which you will need a PIN pad.

With all this information, it should be easy for you to decide which type of terminal is best for your business needs. Research the price and make a purchase that will only add value to your business!