What are the advantages of wireless terminals over imprinters?

There are many advantages to using a wireless terminal rather than an imprinter. But, there are several factors to take into consideration when deciding if you want to use a wireless terminal or an imprinter.

Pros:

1)      “Card present” processing rates. When using an imprinter to accept payment, you pay a higher processing rate because you are imprinting the card, then later keying in the transaction, rather than swiping the card. When using a wireless terminal you will pay ˝% to ľ% lower processing rates because you are swiping the card and getting the approval at the point of sale.

2)      Faster access to your money.

3)      On the spot approvals substantially lower your risk of taking bad cards.

4)      Reduces the risk of data breaches.

Cons:

1)      Requires a 3^rd party wireless service provider, which could cost you from $15 to $35 a month.

2)      Increased per transaction cost from your wireless service provider ranging from $0.05 to $0.15 per transaction.

3)      Much more expensive than imprinters.

If your credit card sales volume is very high, then the lower processing rates and reduced risk of fraud would be worth the extra expense and monthly wireless fees of a mobile terminal. If your credit card sales volume is very low, or you only occasionally need to accept cards off site, then an imprinter may be the right choice for your business.