Retail Storefronts
It is important that every retailer choose theirs with care. Choosing the wrong supplier or wrong machine in the beginning can lead to real problems down the line. You don’t want to end up with unpleasant surprises down the road. If you choose the wrong account provider you may end up with high lease fees on equipment you don’t want or need or high monthly fees. Every smart business person wants to avoid paying more than they need to for services they don’t want!
This is why it is so important that you choose the right one from the beginning. Your first job is to ensure that you understand how retail merchant accounts work. When a customer pays with a credit card the card is swiped through the terminal. The terminal securely sends the information to the credit card processor who ensures that the card is valid, has an available balance, and is not reported lost or stolen. If everything is ok the money is charged to the customer’s account and the funds are transferred to the retailers account within a few business days. Cards that are not valid or do not have sufficient funds are rejected on the spot.
You need to decide the location of it next. Think about where it would be most practical, as well as being convenient for both you and your customers. Retailers who would like to accept debit cards need to make sure that their customers can reach it to enter their pin number. You will need to have a phone jack at the location of it. You should use a separate phone line than the one used for receiving customer calls, as sharing a line will slow down processing and give your store a frequent busy signal whenever you are ringing up a credit card transaction.