Merchant Credit Card Machines Are A Quick Way To Accept Payment

18th May 2010

Merchant credit card machines are a vital part of a successful

business plan. With most households possessing at least one payment

card, it is very important that you are able to take credit as a form

of payment. However, there are also a lot of things that you need to

keep in mind if you are interested in making use of a credit machine to

accept money for goods or services. While there are many benefits,

there are also a few disadvantages that you need to be made aware of.

In addition to this, there are certain practices that you will need to

keep in mind in order to help make your customers as comfortable as


The first thing you need to remember when you are pursuing merchant

credit card machines is that credit is one of the fastest methods of

payment possible. A credit payment can be processed within seconds,

allowing you to have the same swiftness of paying with a debit card. By

removing the need to write down the card numbers and details, you can

get instantaneous results without having to do the manual entries that

used to be standard when accepting credit payments. However, you need

the proper infrastructure in order to take advantage of this form of

payment. You will need an appropriate merchant account to process the

payment and store your funds until you can transfer the money into your

own business banking account.

However, merchant credit card machines do have disadvantages.

Chargeback and fraud are much more common with credit cards than they

are with debit accounts. While there is fraudulent debit activity,

credit cards are more commonly targeted because you do not need a pin

with most credit cards. The lack of a pin often makes credit cards less

secure than debit cards. It is very important that you keep a close eye

on chargeback and fraud rates, as this can negatively impact the status

of your merchant account. If you run too high of a chargeback or fraud

rate, you run the risk of having your merchant account closed. Without

the merchant account, you will be unable to process payments. Every

payment card and bank has rules and regulations on what are allowed

chargeback and fraud percentages. You should take the time to find out

what those percentages are when you set up your merchant account.

Because customers are so worried about fraud associated with merchant

credit card machines, there are a few practices that you can do to

ensure their comfort. The most simple and easy way of ensuring customer

comfort is to position your machines in such a way they can watch the

entire process of swiping their credit cards. A common method of fraud

is to double swipe a card. By placing two machines side by side, it is

possible to make a copy of payment card data. Customers are aware of

this practice and prefer to have their cards swiped over the counter

where they can see. This is a free and easy method of ensuring customer

comfort. Just plan to make certain you can allow your customers full

view of the card swiping process if they desire. This will help ensure

that you do not lose any business.