Business

Types of Credit Card Readers

The popular use of cards instead of cash has made credit card readers quite popular among business owners. A credit card reader is a device that is used to obtain encrypted information from credit cards. There are credit cards that use magnetic strip technology while others use chip technology. Credit card readers come in a wide variety of designs and dimensions. They are widely advised for business owners since they enable the making of secure, quick and convenient transaction of payments using customer credit cards.

Credit card readers can be divided into three major categories with a variety of options under each.

Point of sale terminals

There are credit card readers that are situated at a fixed location in the business. Point-of-sale terminals usually have a wide range of capabilities. These terminals often have the ability to read cards with magnetic stripes such as gift cards, IDs and Credit cards as well. Point of sale credit card readers are connected through a broadband or telephone connection. This type of credit card processor is great for businesses within a fixed location.

Portable terminals

These are also quite popular among businesses in fixed locations. These terminals use blue-tooth or wireless technology to communicate to servers for transactions made. They are quite commonly found in bars and restaurants where waiters take the device to the customer for a transaction. Portable terminals are very convenient, professional and create a trustworthy relationship between the business and the client as it shows a lot of transparency.

Mobile terminals

There are also mobile credit card readers that you can attach to a smart phone or a tab for credit card processing. Most mobile terminals are attached to the earphone jack of your phone. The use SIM cards or GPRS to communicate with the service provider while making transactions. These devices allow you to swipe a variety of credit card types. These devices are extremely convenient for businesses that are not located within a fixed operating premise.

With the wide variety of options available, businesses owners have the choice of selecting the system that best suits their business. The best part of using a credit card reader is how amazingly affordable it is to buy. 

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