Merchants these days really have several options when choosing discount credit card machines for their charge sales.
Dial-up terminals are the basic industry standard for credit card processing machines, typically used by merchants that have lower sales volumes. These mini-computers allow any business to process credit and debit card transactions directly over a standard telephone line at the time of a sale. Merchants and customers know almost instantly whether the sale will be authorized or declined by the processing company. Dial-up terminals are also the least expensive of discount credit card machines, ranging from as little $50 to around $200 each.
Internet Protocol (IP) terminals let high-volume merchants take advantage of a high-speed Internet connection to process their credit card sales. An Ethernet cable rather than a telephone wire is plugged into the credit card terminal and then into a high-speed digital telephone connection such as a DSL, cable modem or T1 line. This high-speed connection typically cuts transaction time in half, which reduces overhead costs as well as improving customer service during peak shopping hours. IP terminals are more expensive to purchase and install, running around $250 to $350 each.
Used along with credit card terminals or payment software, PIN pads let merchants accept debit cards in payment. This provides businesses with another payment option and can also lower the processing rate per transaction. PIN pads typically cost $80 to $125 each.
Finally, for on-the-go business, there are mobile discount credit card terminals useful for traveling sales personnel and tradeshow merchants. These are expensive – $650 to $800 each – but they are vital gear for traveling merchants.