Retail Merchants
Retail merchants are merchants who do business face to face with their
customers in a location other than their home, such as a store, bar, restaurant
or hotel etc and can swipe credit cards in a credit card terminal. Retail
merchants will conduct a majority of their sales via a card swipe terminal
or software with a card swipe device connected.
Currently retail merchants will get the lowest discount rate.
Merchant account providers
- Merchant
Account Providers
Merchant account providers represent a bank and offer a variety of products
and services that enable you to accept credit cards as payment from
customers.
- Third
Party Merchant Services
They accept credit cards payments on your behalf in exchange for various
fees and percentages. You won't need hefty setup fees.
- Banks
If you have been in business more than two years and have good credit,
you may ask your local bank to get the lowest possible discount rate.
Processing solutions
- Terminal processing - most
widely used for retail merchants
You can either swipe the credit card through the machine or enter the
credit card numbers manually via the keypad.
- Software processing
Credit card processing software operates through your computer's modem
and phone line.
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