Are you considering investing in a credit card terminal? If this is your first physical payment processor, it’s a big deal! For many small business owners, buying or upgrading a credit card terminal coincides with growing your business. Often, business owners move from selling purely online to in-person, physical sales. Otherwise, you may be shifting from a more informal format to something that serves you beyond simply processing payments.
Whether you’re buying your first machine or moving on to something more advanced, there’s a lot to choose from. No worries—we have you covered. Let’s dive into the world of credit card readers. Consider this your primer from FLO Business Solutions!
What is another name for a credit card terminal?
When you first begin researching your payment processing options, it’s easy to experience confusion over the terminology. It’s actually a lot less complicated than it may seem, however. There are actually several different terms you can use instead of credit card terminal. They include:
- Card reader. This is a little less formal, and may be more familiar to casual customers.
- Credit card machine. Goes without saying, right?
- Point-of-sale (POS) system. One of the most widely-used terms, we often use this to refer to credit card terminals on a more formal level. Plus, a POS system is a system—it includes the physical terminal, but can go beyond it.
No matter what you call your system, it’s important that you know its capabilities and limitations. It’s a good idea to write down everything you need from a payment processor before beginning your search. Generally speaking, you’ll want as much freedom as possible when using your credit card reader. Don’t settle for a system that does the bare minimum. Make sure you’re using a system that’s up to date, with a support system you can trust. That means talking to real people when you have questions.
What is a smart card terminal?
Here’s the thing: there’s a traditional card reader, and there’s a smart card terminal. You most likely have a “smart” card right now—it’s the card that uses a chip. A smart card terminal can read that chip quickly and reliably. There are two main types of smart card readers.
- The contact model. This model requires customers to insert their cards into the device.
- The contactless model. In this case, the reader relies on radio frequency. All the customer has to do is tap or hover their cards over the readers, and they’ll be good to go.
You can also procure a terminal that combines the contactless and contact models. When you offer both options, you’re essentially insuring your sale. If, for whatever reason, one method proves tricky for the customer, you have a backup.
Keep in mind that the contactless model is the most advanced at this time, and can be more convenient for customers in a hurry.
How do I get a credit card terminal for my business?
Typically, you’ll procure a credit card terminal from a retailer like FLO Business Solutions. Keep in mind, however, that you don’t want to work with a faceless company. Even the simplest of payment solutions come with learning curves, and you’ll want to make sure you can reach out to real people if you have questions (what is Clover, anyway?). At FLO Business Solutions, we ensure that you’ll always have someone ready to help—no matter what.
Additionally, you want to make sure that the company you work with can help you scale up as
needed. The more your business grows, the more you’ll rely on not only your payment methods but the company supporting them. If you can get everything you need—from machines to support—in one place, you’ll be off to a a great start.
Frequently Asked Questions
Do you still have some questions about finding the best credit card terminal for your business? Below, we’ve listed some things our customers frequently ask.
What are virtual terminal card processing systems?
A virtual terminal card process system is one option available to small business owners. Rather than working with a physical card reader, a virtual reader allows you to work off (basically) any device. This increases your flexibility, and can be easier for some businesses as they grow. Often, you can acquire a virtual POS system from the same company that handles your physical machines (if you choose to have both).
What is a mobile credit card machine?
People carry their credit cards everywhere in this day and age. That means you need to be able to meet them anywhere, right? A mobile credit card machine allows you to set up shop at trade shows, pop-up markets, and more. You’re not stuck in one place, and can sell your services or products wherever you wish. Plus, they’re lightweight and simple to use.
Can I use mobile credit card readers with my phone?
The short answer: Yes.
The longer answer: In some cases, you may integrate mobile credit card capabilities with your personal devices. This is where a credit card machine for phone comes in. Rather than working with a bulky machine, all you have to do is handle a small device. It’s easily attached to and from your phone, and empowers you to run your business wherever you need.
Contact FLO Business Solutions Today!
We know moving on to a new payment processing system can seem like a lot of work. But if you collaborate with the right company, you’ll get the guidance you need. At FLO Business Solutions, we’re here to assist. Call us at 803-887-7356 or connect with us here. Start upgrading your business today!