In today’s market, a card processor is crucial to improving and continuing customer relations and service. Consumers today are often in a hurry or distracted, making a credit card payment processor an integral addition to any business. A merchant card processor can help to reduce costs and maintain the competitive edge needed in the commerce of today.
What are the different types of card processors?
There are three main types of card processor options available today. Each has its own purpose and benefit depending on the type of business you operate and whether or not you have online sales.
Stationary Credit Card Payment Processor
A stationary credit card payment processor is the traditional type, used for in-store purchases, such as your local malls or restaurants. Features including a magnetic strip reader, display, PIN pad, printer, keypad, and a direct phone or Internet line-in port. This type of processor is based solely on face-to-face sales, affording physical storefronts the ability to provide customers a quick, convenient payment method for their purchases.
Wireless Merchant Credit Card Processor
A wireless merchant credit card processor offers the ability to process transactions more securely and efficiently, with terminals including the traditional features, but having no need for a direct connection to phone or Internet lines. Wireless merchant processors are an optimal choice for door-to-door sales, physical catalog sales done through meetings with customers, businesses that set up space at expos and other business type based gatherings, and any other on-the-go sales your business may experience.
Virtual Merchant Credit Card Processor
A virtual merchant credit card processor is intended for online business transactions, making them a necessary choice for businesses that have an online catalog through which they sell their products or services. They offer the chance to process payments in real time and often include several features that make them very secure. Some of those features include address verification and CVV verification. Additional features include a faster processing time than the more traditional processors, a coupon and rebate calculator, shipping calculation, and tax calculation.
This card payment processor is perfect for mail order, call center, insurance sales, newspaper and magazine sales, online charities, utility companies, and many service companies, as well as most online merchants selling products.