Default HubSpot Blog

Current Articles | RSS Feed RSS Feed

What kinds of credit card processing solutions are available?

Posted by Alex Neir on Thu, February 17, 2011 @ 02:50 PM
credit card processing solutions

What kinds of credit card processing solutions are available?

Determining the right credit card processing solution is easier than you might think. There are quite a few credit card processing solutions available and selecting the right one depends upon how your business is set up to accept payments.

Credit card processing solutions can usually be grouped into one of 4 solution categories.

  • Retail Account
  • MOTO Account
  • Internet Account
  • POS Account


credit card processing solutions A retail account is reserved for any business that has a physical location at which the customer visits to purchase good and services. This is traditionally thought of as a brick and mortar establishment. The important factor that drives qualification for a retail account is 80%, or more, of the payments accepted by the business need to be swiped through a credit card terminal. The rates for a retail location are the lowest of all the solutions.

credit card processing solutions A MOTO account (mail order, telephone order) is reserved for businesses that conduct the majority (21% or greater) of the payment processing via the telephone or mail. The rates for a MOTO account will be slightly higher than a retail account. For more information please see - Why are rates higher for Internet, Mail and Telephone order charges?

credit card processing solutions An internet account is selected for businesses that conduct sales over the internet. An internet credit card processing solution processes payments from the businesses website in real time. An internet account typically comes with a virtual terminal that allow for one-off payments to be transacted from a web-based terminal. There are also a number of other features available through the virtual terminal. The rates for an internet account are usually the same as a MOTO account.

credit card processing solutions A POS account (point of sale account) is a credit card processing solution that works with a POS hardware solution. A POS hardware solution includes a cash drawer, scanner, receipt printer, credit card swipe device and many other options that manage sales and inventory at the business location. A retail merchant account is typically integrated into the POS system via a middleware solution such as IC Verify or PC Charge (to name a few).  

Tags: Ecommerce, POS, Credit Card Processing Solutions