Selecting a Credit Card Reader

When you want to buy a credit card reader, there are a number of things you should consider. The credit card reader you select can determine how easy it will be for customers to do business with you. Generally, you want a reader that will work seamlessly at your store or website. The reader should also have a number of security and functionality features that are important for your business. Below are a few things to consider when choosing a mobile credit card processing reader.

i)             Features you need
Determine the features that are important for your business. This way, you can quickly eliminate payment processors that do not meet your requirements. For example, think of whether you will be taking one-off payments or would need recurring payments.

The type of business you have should also help you decide the right processors to choose. For example, if you have an online marketplace, you will need a payment processor that will allow you to take payments on behalf of sellers transacting at your website. You must check this then: http://www.huffingtonpost.com/2011/10/10/identity-theft-smart-credit-cards_n_1003620.html .

Majority of credit card processes are limited when it comes to functionality. Therefore, make sure you evaluate the features of the processor to find one that has what you need.

ii)            What payment methods does your target market prefer?
Think about your target market when looking to sign up with a credit card processing company. There are different payment gateways all across the world. You should know where majority of your target market resides and which payment gateways they prefer. If the mobile credit card reader you choose does not support the payment options your market prefers, you risk losing massive sales.

iii)           Is your business considered "high risk"?
Before a payment provider decides to approve you for a credit card reader, your business will have to be evaluated. Payment providers have a list of businesses that are considered high risk. This means the businesses are likely to get refunds and chargebacks due to one thing or another. When there is a chargeback, the fees have to be paid by the merchant. Sometimes, these fees will be passed to you.

Some of the businesses considered high risk include credit repair, electronic cigarettes, diet programs, e-books, debt collection, tobacco, travel, adult content and gambling. If your business falls under any of these categories, it may be difficult to find a payment provider to offer you a credit card reader. In such a case, you will need a payment provider that service high risk merchants.