Selecting the right credit card processing software really depends on the type of business environment you will be processing payments in.
There are systems perfect for all types of businesses ranging from retail to ecommerce. It’s best to know what your credit card processing needs are before deciding which processing software is best for you.
Credit Card Software
If you have easy access to a computer when completing transactions, payment processing software would most likely be the better choice.
They have great reporting features and make it easy to look back on previous transactions. A lot of software has the ability to store credit card information and charge customers at specific intervals. They are also usually less expensive than most credit card terminals.
Credit Card Terminals
Many businesses already have some sort of cash register or POS system in place and many can’t be integrated with payment processing software.
Because of this, it’s usually simpler to use a credit card terminal. There are many that are customizable, don’t take up a lot of counter space and contain a lot of value-added features for your customers.
Contactless Payment Solutions
If your business thrives on speed and convenience, then “tap and pay” terminals are the best solution. With smart chip technology that’s supported by a secure controller, contactless payment terminals eliminate the need to transfer credit cards and receipts between the cashier and customer.
This easy on-the-go technology has been proven to be most useful for convenience stores, fast food restaurants, pharmacies, movie theaters, and other merchants who rely on faster transaction times and shorter wait lines.
PIN-based Debit Card Transactions
Merchants who think they will be accepting debit cards should consider adding credit card equipment like a PIN pad. This will not only give customers more payment options but will also save you money and add value to your customer’s experience.
Online Payment Gateway
There are many different gateways that work better for different environments. Payment gateways are a type of credit card processing software that is hosted by a third party on a server outside of your business. Your shopping cart or other software communicates with the payment gateway and manages actual transactions over the internet.