TOP 3 BENEFITS OF A WIRELESS MERCHANT ACCOUNT

If you do a business on the go or in temporary locations, you have 3 options to process credit cards:

• Store-and-forward merchant account
• Touchtone merchant account
• Wireless merchant account

Store-and-forward merchant account does not process the credit card transactions in real time. You provide the customer with the service or product at point of sale and store the credit card details in your terminal. However, you can only forward these transaction details for processing at a later time when you have access to a phone line. This is probably when you are back in the office. By this time, you have no guarantee that the transaction will be approved. There are merchants who have lost sales because the transactions were declined.

A touchtone merchant account is more susceptible to fraud and chargeback as it is a card-not-present merchant account. Hence, you are usually charged higher fees to protect the interests of the merchant account provider. Furthermore, customers may be reluctant to provide you with their credit card details as they may be sceptical of the security features of processing credit cards over the phone.

BENEFIT 1 – Gives You & Your Customers Peace Of Mind

There are no nasty surprises of lost sales when you have a wireless merchant account. You enjoy real-time authorization of your credit card transactions. All you need is a hardware that fits into your budget and needs of your business. Knowing your transaction has been processed and that the funds are on the way to your bank account gives you the peace of mind when doing your business.

Your customers would also appreciate the fact that their credit card information is encrypted and processed immediately. Knowing that their credit card details are safe and that they don’t have to worry about the details being stolen provides them with peace of mind too.

BENEFIT 2 – Less Risk & Cost Savings

A wireless merchant account is a card-present merchant account. This reduces the risk of credit card fraud and chargebacks.
Keying in the credit card details manually is a mid-qualified transaction and is therefore charged higher rates and fees. With a wireless merchant account, you would have purchased point-of-sale equipment that allows you to swipe the credit cards. Hence, it’ll be a qualified transaction and you will be charged lower rates and fees.

Hence, both the reduced risk of fraud and chargebacks as well as the qualified nature of the transactions reduce your costs incurred per transaction. This cost savings can even amount to hundreds of dollars especially if your sales volume is high.

BENEFIT 3 – Ease Of Use Of Hardware

A wireless credit card reader allows you to do accept credit cards wherever and whenever you want. Such mobility gives you an edge over your competitors who may be office-bound or accept only cash.
The wireless credit card reader ensures that your transaction is qualified, hence ensuring lower transaction costs. It allows you to process the sale on the spot, get immediate authorization and print out a receipt for your customer to sign.

Many wireless devices can easily fit into your pocket while others may come in a slightly bigger size. The smaller ones usually come with separate printers. There are a huge range of such devices. Search and select one that best fits your needs and budget.

The wireless devices may be purchased or leased. It is much cheaper in the long run if you purchase the device. Ensure that it is compatible with different services in case you decide to switch to another merchant account provider. Leasing comes with problems such as a stipulated contract period. You may be stuck with the same provider or equipment even if you realize that they are not good and would like to switch.

Read on for more samples of wireless credit card processing hardware:
http://www.merchantexpress.com/wireless_credit_card_processing.htm
http://www.infomerchant.net/creditcardprocessing/wireless.html