- 19 July, 2021
A credit card machine or terminal is a payment gateway that has the fundamentals to process credit cards. Also known as an EDC terminal, i.e., Electronic Data Capture Terminal, it allows merchants to obtain credit card or debit payments.
Some credit card devices may have unique features, such as processing loyalty cards, gift cards, and a check reader connection; however, most of these devices simply allow the tapping or swiping of credit or debit cards. These terminals are considered a highly cost-effective method.
There are several types of credit card machines. Some are handheld ones that are, of course, smaller to carry. Also, most of them have a magnetic stripe reader, a screen, a keypad, an EMV-chip reader, and a signature pen. Some even have a printer to print payment receipts.
Types of Credit Card Terminals
As previously mentioned, there are different types of these devices. The three basic types are:
A POS System
A POS system (Point-of-Sale system) similarly processes debit or credit cards. However, this system usually has more innovative functionalities and additional features. The POS system processes cards and assists merchants in managing their businesses by providing fully integrated tools and features. Most POS systems generally offer the following:
Businesses must select the POS system that will specifically meet their specific preferences and requirements. Also, the POS system’s advanced features enable merchants to maintain other core business areas as well.
The Right Solution for Your Business
To decide whether to opt for a POS system or a credit card machine, you must consider which device is more beneficial and profitable for your business. So, ask yourself the following questions:
Credit card machines and POS systems are necessary for businesses, so choosing the best device for your business is imperative.