Credit Card Processing Terminal - Understanding the Technology

11th November 2009

If you are in the market for a credit card processing terminal, you

absolutely must take current technology and future technology into

consideration before making a purchase. Obviously, you want equipment

that uses the most up-to-the-minute technology, but you may also want

to invest in equipment that will be able to be updated as the

technology that is on the horizon comes into play.

For example,

Cell Phone Wallets are now being used in other countries, instead of

traditional plastic credit cards. With a Cell Phone Wallet, the

customer uses their own cell phone to make their purchase at a place of

business. The terminal that is used for processing must be set up for

this new technology, and we expect this technology to be in use around

the world within a couple of years.

This technology is possible

because it is now possible to use your cell phone to accept credit card

payments. It is just a matter of downloading and installing the proper

software from your processing service. It is this technology that has

brought about the technology needed for the Cell Phone Wallet.


also need to be aware of the fact that data encryption software is

constantly being upgraded. Encryption methods are used by software to

essentially turn the customer's financial data from their credit cards

into an unbreakable code, before that information is transmitted. Once

the information reaches the processing company, their system

essentially breaks the code in order to read the information, again

using encryption technology designed for this purpose.

You must

make sure that your credit card processing terminal is capable of

updating as updates are available for the encryption software. These

advances are essential because the skills and technology used by

thieves of financial information is constantly advancing as well, and

we must stay two or three steps ahead of them. If you are using

equipment with outdated encryption software, you are essentially

putting your customer's credit card information at risk.


technology changes and advances, your credit card processing terminal

must be capable of also changing and advancing. If it isn't, you will

find yourself purchasing new equipment fairly often, and this doesn't

make good business financial sense for most business owners.


this means to you and your business is that you are better off spending

a bit more for the best possible equipment, capable of being easily

upgraded to keep up with ever changing technology today, then spending

what amounts to a small fortune over time to replace outdated

equipment. The cost of everything matters to your business budget, but

in this instance, future technology must be carefully considered.


is also important that you consider current and future technology if

you are thinking about purchasing a used Credit Card Processing Terminal. There are used terminals that are in good shape, and capable

of keeping up with future technology, but of course, you will want to

verify this before buying the equipment. Again, you may be better off

spending a little more for better - new - equipment today, to save

money in the future.