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Considering a wireless credit card processing machine?

Posted by Alex Neir on Fri, July 30, 2010 @ 01:22 PM

Considering a wireless credit card processing machine?

Why go wireless? There are numerous reasons to select a wireless processing solution. This is especially true if your business is mobile or transactions are frequently conducted at events, fairs, tradeshows or any location away from your main office or retail store.

The first question to ask when considering a wireless credit card processing machine: What are the benefits?

wireless credit card processing machine
(Credit: www.fotoaandekust.nl)
  • Lower processing rates. Your business is able to save a considerable amount on the processing fee if you are swiping the customer’s credit card through a terminal as opposed to keying the card in. This savings is passed on by the credit card issuer as there is less risk associated with the sale. Your business can typically save half to a full percentage point by swiping the card at the sale.
  • Added convenience. Depending on the volume of transactions, it can be very cumbersome to capture your customers card data only to have to key it all in at a later time. In addition, you no longer have to worry about loosing your customer’s card information and, therefore, the revenue from the sale.
  • Reduced exposure to fraud. Through processing the authorization at the sale you reduce your exposure to bad debit. If the customer has the funds necessary to complete the sale you are notified before your products and services are rendered.

Now that we have identified the benefits, what considerations need to be made when selecting a wireless credit card processing machine?

  • Equipment. As for equipment you have more than a few options. Almost every manufacture offers a wireless version of their wired terminal. However, the terminals tend to be a bit costly as most retail for around $600 to $900. Another option is to utilize a mobile phone as your wireless credit card processing machine. There are a lot of card swipers that have been engineered to work with mobile phones. Depending on the mobile device you have it may make sense to investigate the availably of a swipe device that is compatible. If you have an iPhone, Maxx Merchants has an iPhone charge card POS that could be a good fit.
wireless credit card processing machine
  • Coverage Plan. The next consideration is the data plan needed by your wireless credit card processing machine to access a wireless network to complete the transaction. If you elect a traditional wireless terminal you will be required to purchase a network access plan for the terminal to work. This is another good reason to utilize a mobile phone as you will likely already have a data plan in place.
  • Fees. Your wireless credit card processing machine will require a merchant account to process payments. The fees associated with the account are negotiable. For a detailed explanation of the fees and rates please see our blog on affordable credit card processing.

I hope this article is helps you and your business determine the best wireless credit card processing machine. If you would like additional guidance in avoiding mistakes when opening a merchant account please download our whitepaper.

Tags: wireless credit card processing machine, Affordable Credit Card Processing, Point of sale credit card processing