Merchant Account Credit Card Terminals Explained

April 22, 2024

A depiction of merchant account credit card terminals

What is a Merchant Account Credit Card Terminal?

Merchant account credit card terminals are devices that enable businesses to process credit card payments. These terminals allow for the secure entry and transmission of credit card information.

What are the Different Types of Credit Card Terminals?

There are different credit card terminals available to suit your specific operational needs. Traditional terminals are hardwired and stationary, ideal for fixed sales environments like retail counters. Wireless terminals function through Wi-Fi or cellular networks which are great for restaurants or businesses. Mobile card readers connect to smartphones or tablets via Bluetooth.

Costs and Fees of Setting Up a Credit Card Terminal:

Costs and Fees include one-time setup fees, recurring monthly service fees, and transaction fees that may vary based on the credit card type and the terms negotiated with the merchant services provider. Some providers may charge for additional services such as PCI compliance fees or fees for accessing customer support.

How to Set Up Your Credit Card Terminal:

First, connect the terminal to the internet or a phone line. Next, enter your merchant account details into the terminal’s software to configure it. Then, test the terminal by running a few transactions to make sure it works properly. It’s important to keep the terminal’s software up to date.

Common Credit Card Terminal Brands:

Verifone
Square
PAX
Clover
Ingenico
First Data

About The Author

Phillip Parker

Phillip Parker is the founder, creator and author of this website. He is a payments industry expert, business consultant, and web developer. Since 2009, he has researched over 1,000 merchant services providers and published hundreds of payment education-related articles. His work has received national recognition and his expertise is regularly sought by large media outlets such as CNN, MSN, and INC Magazine among dozens of others. Learn more...

How Phillip Can Help You

Schedule a call with Phillip to get answers to your payment processing questions. Please note that Phillip's expertise focuses on merchant services within the U.S.

Credit card processing costs are complex and often difficult to understand. Hire Phillip to help you optimize your processing costs to the lowest possible rates without switching processors, trading out payment acceptance equipment, or modifying your processes.

Starting a new business or ready to find a new processor? Selecting the right merchant services provider is a crucial component of running successful business. Check out Phillip's processor picks see which companies offer the best services at the lowest costs or schedule a call today to learn how to get custom recommendations for you payment needs.

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Hello and thank you for visiting! I'm Phillip, the creator and author behind this website. My mission with CPO is to hold credit card processors accountable for their business practices. I do this by publishing my research on their policies, contracts, pricing, and client satisfaction. The goal of this research is to provide a comprehensive guide for achieving the lowest costs with the best providers. I have been publishing my findings since 2009, and my work has been recognized by national publications such as CNN, MSN, FOX, and INC Magazine, among many others.