Credit card terminals are point of sale (POS) devices used by merchants to process payment cards to make electronic funds transfers. A terminal allows a merchant to capture required credit and debit card information and to transmit the data to the merchant services provider or bank for authorization and finally, to transfer funds to the merchant. Each terminal is designed for a customer to insert or hold a card near the device to capture the card information. Terminals can also be paired with pinpads to accept pin-based debit card transactions.
Accepting credit cards not only legitimizes a business but also, allows merchants to broaden their customer base by accepting more payment types which will drive increased revenue. Cash payments don’t leave a paper trail making it harder to reconcile accounts. Cash-only transactions raise an alert to government officials and increase the likelihood of an IRS audit. Diversifying methods of payment allows a paper trail, improves your ability to reconcile accounts and minimizes suspicion of omitting income from government officials. Security is a major concern for many people and a reason why customers avoid carrying cash. Customers expect to be able to pay using a debit or credit card. Accepting all major payment cards gives your business an edge over those that accept the cash-only method of payment. Impulse buying is real and credit cards encourage it. If your business remains cash-only, you will lose out on an entire customer base that may not have the cash at that moment but don’t mind making the purchase. Having to locate an ATM can make a potential purchase seem not worth it. Flexibility is attractive and can increase sales. In addition, experimental research has shown that customers typically spend about 18 percent more when paying with credit cards. Paying with a credit card in place of cash requires less thought on behalf of the customer.
Choosing the right Credit Card payment processing Terminal for your business can be a daunting task. You want a terminal that meets your immediate needs with the flexibility for future demands to maximize your investment. Yet, a myriad of Credit Card Machines with various technical capabilities make it hard to quickly discern the differences. Hubwallet understands this. That’s why we offer solutions based on ease-of-use, speed, design, affordability and capacity for future upgrades. Whether you want a terminal with touch screen capabilities, internet connectivity or an entry-level card processor, we can help you find the right solution.
The VX520 is everything a countertop device should be – fast, reliable and secure. Accept all payment types, including EMV chip cards, magstripe cards, Apple Pay and other contactless payments. The compact design takes minimal counter space and comes with an internal PIN pad. Simply connect the terminal to a phone line or internet connection, and you’re ready to go.
The S90 mobile terminal is designed to offer superior wireless performance with unmatched security and reliability. Accept all payment types, including EMV chip cards, magstripe cards, Apple Pay and other contactless payments. The lightweight, portable terminal has an integrated PIN pad and thermal receipt printer. The S90 is perfect for any business that operates on the go.
The FD130 terminal combines performance, reliability and ease of use in a compact, feature-rich device. Accept all payment types, including EMV chip cards, magstripe cards, Apple Pay and other contactless payments. The robust terminal has an integrated PIN pad with the ability to process over Dial, Ethernet or WiFi connection.