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Swipe Terminal
Suggested Business Use: Retail
Swipe terminals are the best processing solution for retail businesses, however, POS (Point Of Sale) Software can be used also. POS terminals, primarily, are used in a "Card Present" situation. "Card Present" means that at least 80% of your business is done face-to-face with your customers so you can "swipe" or "slide" the card through the terminal. Card swiping is the least expensive of the 3 processing
solutions for retail merchant services, usually around $0.20 to $0.25 per transaction. They are the least expensive because they are considered to be the lowest risk of fraud. Most terminals work with phone lines, however, they do make portable ones that operate off of air-waves or with a cell phone. These types of portable POS terminals are good for taking to trade shows where their is no phone jack present to plug a regular POS terminal into.
Retail Merchant Account & Swipe Terminal Guide
(MUST READ)
Other uses for POS terminals:
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Debit/ATM card processing EBT processing Gift/Loyalty card processing Smart card processing Check conversion/authorization
(Find out more about MerchantSeek's featured check processing options here) Note: Not all terminals support other processing solutions mentioned above. Check with a Merchant Account Provider or equipment manufacturer for details.
Purchase prices for terminals range from $200 to $1,000+. The pricing greatly
depends on the units features and how much the Merchant Account Provider wants
to profit off of a terminal sale. Check out a recommended
bundled package offer to MerchantSeek visitors.
 | Pricing Information |
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Here's the rates and fees you can expect to pay for Swipe Terminal credit card processing. (Note: Rates and fees may be higher or lower depending on what type of business you are operating, what country it's located in, and your credit rating.) | Application/Setup: | $0 - $100 | | Swipe Terminal Hardware: | $300 and up | | Discount Rate: | 1.70% and up | | Transaction Fee: | $0.20 to $0.25 | | Monthly Minimum: | $0 - $25/month | | Gateway Fee: | $0; Does not apply to retail merchants | | Statement Fee: | $7 - $15/month | | Programming Fee: | $0 - $100
(usually only applies to merchants switching from one provider to another
- many times can be waived) | | Daily Close-out Fee: | $0 - $0.15 | | Chargeback Fee: | $20 - $25 per instance | | Reserve: | Varies, ask provider for details.
May not apply. | | Annual Fee: | $0 - $100/year | | | |
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| Advantages & Disadvantages |
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There are advantages and disadvantages to using any
retail merchant account processing solution. Below is a table pointing these out for POS swipe terminals:
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Advantages |
Disadvantages
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Great for retail establishments
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Lowest discount rate and per transaction fee
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Possible extra fees
(example: programming)
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Considered lowest risk of fraud
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Portable, wireless terminals tend to cost more
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Portable, wireless POS terminals available
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| POS Swipe Terminals |
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What are you looking for in a POS
terminal for your retail merchant account? Small footprint? Terminal and printer in one? Here are some things to look for when shopping for the right credit card processing terminal for your business. Quick Tips: - ALWAYS get a terminal that supports AVS (Address Verification System.) AVS is used to greatly reduce the chances of getting fraudulent orders. In addition, your transaction costs will also be lower.
- Selecting a terminal with an integrated printer helps to conserve space and is much more convenient.
- Choose a terminal with printer that supports thermal printing. With thermal printing there is no need to replace a printer ribbon, thus saving you time and money in the long run.
| Recommended Retail Solutions |
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The following bundled solution from Thompson Merchant Services is a terrific
deal for any retail business.
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Standard Terminal Option
 Use
Existing Terminal or terminal of your
choice! Or if no existing terminal
purchase the Nurit 2085 Terminal/Printer
Combo
Includes merchant account
and 1-year warranty on terminal
Price: $139 (lower for Non-Profits) - includes installation
and training (or use your
existing terminal if applicable)
Visa/MC "Interchange Plus" discounts rates
available plus $0.23 cents per
transaction
$7.99/month statement fee
no annual fees, no
minimum contract
Retail
"True" Debit Card Processing
(With Pin Pad):
$0.30
cents per transaction, no annual fee and, no
monthly minimum. Retail
Check Verification/Check Guarantee Excellent
Pricing - a great option for merchants
looking to verify checks at a reasonable
rates (find
out more about check verification here). |
FREE Terminal Option
FREE
Nurit 2085
Includes
merchant account and
1-year warranty on terminal
Visa/MC
"Interchange Plus" discounts rates available
plus $0.23 cents per
transaction
$7.99/month statement fee
$15 monthly minimum (not a recurring
monthly fee - only charged on months that
merchant does not use service.)
No annual fees
No minimum contract
Retail
"True" Debit Card Processing
(With Pin Pad):
$0.30
cents per transaction, no annual fee and, no
monthly minimum.
Retail
Check Verification/Check Guarantee Excellent
Pricing - a great option for merchants
looking to verify checks at a reasonable
rates (find
out more about check verification here).
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PC
Software Processing Solution
PC
Charge Pro with for Retail Businesses:
Includes merchant account and 1-year tech
support.
$199 for software (or free for select
merchants)
Visa/MC "Interchange Plus" discount rates
available
$0.23 cents per transaction
$8.99/month statement fee
And no annual fees
Retail
"True" Debit Card Processing
(With Pin Pad):
$0.300
cents per transaction, no annual fee and, no
monthly minimum.
Retail
Check Verification/Check Guarantee Excellent
Pricing - a great option for merchants
looking to verify checks at a reasonable
rates (find
out more about check verification here).
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Interested in one of the options above? Complete the short inquiry form below and a representative will contact you shortly.
Or call us toll-free at 1-800-298-9656.
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