Card Payment Terminals from VPS Can Streamline Your Business
While there are often so many different terms out there all referring to the same thing in the financial and payment-processing industries, it’s important that you learn to differentiate some phrases and words that may sound similar, but are not. A card payment terminal is exactly what it sounds like:
A card payment terminal is an electronic interface for implementing transactions with a debit or credit card. Many kinds of card payment terminals are available to merchants. Most card payment terminals have the same fundamental functions. They allow a merchant to swipe or key in credit card information and transfer it to the merchant service provider. Most newer models of card payment terminals process credit cards, gift cards, and even check verification. Most card payment terminals transfer their sensitive data through a telephone line or the Internet, and wireless card payment terminals can transfer the data through cellular phone networks or satellites. Some card payment terminals also have the ability to store and transmit information over a standard telephone line when available.
Using a smartphone and software, a merchant can somewhat emulate the functions of a card payment terminal using a card payment terminal application on a smartphone, in a sense, mobile processing. These apps support manual entry or they may work with hardware devices known as swipers to transfer the credit card data to the app. An app that is capable of reading the credit card data will typically help the merchant get a superior discount rate on their credit card processing costs.
The card payment terminal of today has multiple facets. Depending on the needs of the merchant and the type of transactions processed by the card issuing bank, key operations and functions include acceptance of credit, debit and charge cards (both domestic and international), key entry (mail and telephone order), tips, refunds and adjustments, settlement (including automatic), pre-authorization, remote Initialization and software updates, POS integration, multi-merchant capabilities, hand signatures or PIN, surcharge function, and secure password operation.
Contact Vision Payment Solutions today to speak with a representative and to set up a card payment terminal of your own, along with the perfect payment-processing plan for your business – and your clientele. Experience business growth with Vision Payment Solutions.