Online
Credit and debit card payments let you sell your goods and services online

Point of sale
You can accept debit and credit card payments at the point of sale

Over the phone
You may be able to accept credit card payments over the phone

By mail

You can accept credit and debit card payments by mail.

Whichever method you choose it allows transfer of money to be quick and easy. In this section we will be making a quick introduction to the Point of Sale method Electronic funds transfer at the point of sale (EFTPOS) is a payment system that lets your customers pay directly using an EFTPOS machine using card, such as a bankcard, credit card or debit card.

Some small businesses shy away from using this system as they assume it is expensive. Yes there are service fees and transaction fees in some cases but, this has to be considered against the loss of trade. Not only of that single transaction but also of repeat business. Card payment option is becoming more and more expected as a way of making a payment. From anything from a car to a coffee

How Does a Small Business Go about Obtaining a Machine and which is best for you?
There are a few ways that your business can decide which card processing machine they should use. These vary for

Stationary Credit Card Processing Machines

These machines require a direct, physical connection to a phone line or the Internet. They are also known as a countertop. A Countertop Machine has to be corded and needs to be compatible with the POS (Point of Sale) computer. These are very stable and allow most transactions to be processed quickly. These machines can be set to except the different types of customer present payments such as
Chip & PIN
Chip and signature
Contactless
Magnetic stripe

Wireless Credit Card Processing Machines

The wireless machine does not require a direct connection to a phone line or network, making it ideal for merchants who want to take the machine to the customer. These are perfect for restaurants and cafes where the customers are sitting, allowing them to get up and leave when they wish, instead of having to wait at a transaction point to put their card through. They are very flexible and improved the customer experience.

Costs
There can be a number of fees that will be incurred for the terminal these can vary from the list below.

• Setup fee.
• Monthly rental.
• Payment for service to the unit.
• Perhaps printing costs. The machine will most probably have an internal printer but paper will still be needed for receipts.
• A fee for interchange

Many suppliers will bundle these costs into one, they can and will vary from provider to provider and should be taken into consideration when making your decision on who is the best provider for you. Some providers have yet more charges to add. Then again some suppliers may just charge a set fee for the lease of the machine and forget the set-up fees. Each supplier has their own set-up system ways to

A card payment machine for a small business can be an expense that is not justified. So get the right advice. Set the system that is right for you. Add in the fees charges as well as the transaction rate when making your decision on which card processing solution is best for you.

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