Should a High Risk Merchant Invest in a Merchant Card Machine?
One of the main components of credit card processing is the merchant card machines. They are lightweight machines that usually have built in printers and pin pads. There are many advantages to these machines, but they costs several hundred dollars; which means high risk merchants will need to weigh the following before making a decision:
Advantages: The main advantage to a merchant card machine is the store and forward feature, which allows cards to be processed without cell phone service. Instead, the high risk merchant can get the transaction detail with the swipe of the credit card, and the card information is stored. Once cellular service is available, the merchant can complete the transaction.
These machines can also operate with electronic check services; but, due to federal regulations, it is mandatory for high risk merchants to perform these transactions using a landline connection. This landline connection gives your customers additional security—a real asset when it comes to using the information from the customer’s bank account.
Setting up your merchant card machine
Merchant card machines are often used in trade shows, mobile businesses, delivery services and upscale restaurants. Usually, they operate on wireless networks, which may cost additional fees from your cellular service.
Deciding to purchase a merchant card machine is just one of the many decisions that high risk merchants will need to make at some point in their business operations. Before purchasing one, however, you may want to consider discussing all of your current options with your transaction processor in order to avoid unnecessary costs.
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