Thursday, August 15, 2013

Your Guide to Using Credit Card Machines For Your Business

It is now impossible to enter any business and not notice some sort of Credit card machines. It is not an overstatement to note that in many circumstances, they are critical components, that will have a profound effect on the ultimate survival of the business. Credit card machines mean much more than the ability to process payments, but they also includes the all-important managing of cash-flow, which is the life-blood of any business.

A few ancillary items are needed in order to begin accepting credit cards. The primary item that the merchant must have is a merchant account, which is simply a bank account that the merchant uses to process transactions with payment cards.

As a merchant, you should appreciate the fact that there are different types of credit card machines. They are available in different sizes, and work with different formats, but the underlying principle remains the same.

The most affordable are the basic units with a minimal amount of features. Some machines incorporate aesthetic design, for ergonomics or easy handling features. There are also some models that include a printer, and there are wireless credit card machines that can operate anywhere.

The important parts of the machine are most likely to be the reader. The information can be read when the card is swiped, or when read from the embedded chip. Depending on your service provider, you may be required to pay higher charges, with machines where the information must be manually entered.


 Apart from the hardware, the equally important aspects to ensure efficient payment processing, to first ensure that your credit card machines complies with PCI DSS. The Payment Card Industry Data Security Standards are a set of controls that are set by the council to ensure and enhance security in the card payment industry. They are a rigid set of controls that must be met by those involved with card payments.

Your merchant account provider should provide all of the assistance needed for installing your credit card machines. It may be a simple operation that requires nothing more than plugging it in, and attaching a few cables, but you should also ensure that it operates as it should. Improper use or inadequate training may result in you paying unnecessary charges, or declining legitimate purchases, and the ultimate loss of sales.
The arrangements or terms offered by your card payment processor are also very important. You may be offered arrangements that include leasing, leasing to own, or an outright purchase contract. It is up to you, as a merchant, to determine which alternative is most suitable. Although purchasing is usually recommended over leasing, it may not be the best option, it your cash flow, will be affected.
Remember everything thing is negotiable, you can only obtain better terms if you ask for them.

When choosing a service provider, it is always to your benefit to check with the Better Business Bureau. A high amount of unresolved complaints can be in indication of problems, and it may be better to seek the service elsewhere.

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