Six Different Ways to Accept a Credit Card
Choosing how to accept credit cards from your customers will largely be determined by your business model and personal preference. We will discuss the six most common ways of accepting credit cards.
1. Swiped through a landline terminal – This is the most common way to accept a credit card. Swiping it through the terminal will allow the magnetic strip on the back of the credit card to be read and transmitted through a telephone line or secured internet broadband connection to the processing network for approval.
2. Swiped through a wireless terminal – Similar to using a land line terminal except that you can accept a credit card and process it through a secured wireless data network. This is our most popular terminal for mobile merchants on the go that need to accept a credit card most anywhere.
3. Keyed entry through a credit card terminal– Most any credit card terminal can be used to enter credit card transaction information so that you can accept a credit card without it actually being present. You enter the credit card number, expiration date, amount of the transactions as well as the street number and zip code into the terminal at the prompts. The transaction is then processed similar to a swiped transaction.
4. Entered by customer online at a website – Using a virtual terminal and gateway product like Authorize net you can accept a credit card payment from your customers that purchase your products or services online. Typically you would use a shopping cart systems like shoppingcartsolution.com, ascendercart or 24sevencart, with your website which will serve to capture the customers ordering information including payment information, and crate an invoice. Authorize net will take care of the back end processing and email a receipt to your customer.
5. Entering over a smart phone – This method is rapidly growing in popularity because it has the advantage of allowing a quick and easy way to accept a credit card anywhere, and doesn’t require any additional front in solution. Smart phone processing is used in conjunction with the Authorize net virtual terminal gateway provided by Total Merchant Services. You simply login to your account with your phone, enter the information for the charge and your approval or decline message is received almost instantly. Just like using Authorize Net in any other fashion, the customer will get emailed a receipt automatically. Some smart phone providers now have “apps” for credit card processing that allow for additional features and a more robust processing environment.
6. Telephone prompt – By using a telephone you can dial up the processor, enter your customer’s credit card account information over your telephone key pad. The transaction will then be processed and you will receive an approval or decline message with an authorization number at the end of the call.
7. High Risk Merchants – In some circumstances you or your business model may be flagged as high risk. This can be for a variety of reasons including high chargebacks or reputational risk such as an adult business, or a firearms retailer. You may need a specialized merchant service that can handle high risk. Fortunately we have relationships with multiple high risk merchant services including: process usa, highriskexperts, and patriot bankcard. Having these established relationships with these high risk banks will make it easier to get your business approved.
Many merchants will find it convenient to use more than one method to accept a credit card with a merchant account. For instance you may have a retail store with a land in terminal but occasionally go to a customer’s location or a trade show where you may sell your goods. You might find it handy to be able to process a customer’s credit card right on your smart phone. Also many merchants that sell their products and services in a brick and mortar environment may also want to sell some or all of their products and service online at a web store using the Authorize Net virtual terminal.
Total Merchant Services gives you many choices of how you accept a credit card. If you need help or advice on which method is right for you, just give us a call.
So what are you waiting for? Free equipment, no application fees or other enrollment costs of any type, free customer support and terminal maintenance, great rates and fees and world class customer service to boot. Simply stated we want your business and are willing to go the extra mile to earn it! Take advantage of this great offer right now by clicking on the application link below. The process only takes about 15 minutes!
