Offshore Merchant Account Revelations on Credit Card Terminal Scams

September 06, 2007

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In order to have a smooth processing of your credit card payments for your offshore merchant account, you need a reliable and up-to-date credit card terminal.  Now, with all the terminals being introduced almost every month, heck, every week, how would you know what to grab? <h1>How it works</h1>Credit card terminals are commonly seen in restaurant and retail businesses. Terminals appear in three versions; the traditional terminal, wireless credit card terminal, and the virtual terminal.  The traditional terminal has a  magnetic stripe reader, a keypad to enter prices and other information, and a small display. The displays are usually measured line lines and columns: an 8 x 20 display has 8 lines of text, 20 columns wide. Wireless credit card terminals have built-in printers that enable you to carry it around.  The factors you need to seriously consider are battery life, range, weight, and shock-resistance since it is going to be at arm's length during business hours. When you talk about virtual terminals, it is a software that handles the credit card transaction, you simply type in the credit card number and the software handles the authorization. <h2>Mischievous tricks</h2>A very efficient and effective way is to have awareness of the credit card terminal scams that are profusely spreading around the cyber world.  There is truth behind expecting the worst but hoping for the best. So, probing through the cunning, and in certain ways, interesting channels  on how scammers can take advantage of your needs as a merchant scouting for good credit card terminals. ● “Low-priced are just as reliable when compared to the expensive ones”     Don't have anything against low-priced terminals, I mean, it would be a treat if you can have a cheap terminal with efficient features, then go for it.  But, what's important is to not sacrifice quality for saving a few bucks.  Those scammers who offer super-low prices unfortunately give you substandard hardware and in a few months time will manifest screw-ups.  What you should look for are those terminals with reasonable prices.  Reasonable, in terms that it is still close to industry price, and has a warranty.  ● “Lucky you, this is a rare one, won't find anything like this elsewhere.”     While you get the feeling that you have the “edge” by getting a  one-of-a-kind terminal,  but the thing is, if you purchase this kind, it is possible that most processors won't be able to accept that kind of terminal.  ● “We'll give you a lease on this.”     The lease on your credit card terminal is actually irrevocable and you are left with one option but to keep using the terminal and pay the rates even if you want to switch terminals. ● “You'll have full access.”     The tricky part here is when you need to configure your terminal to adjust to the terms that you want for your offshore merchant account, a password suddenly pops up and you only your distributor's company has the code to unlock.  It is hassle for you if this keeps coming because every trip to the company and unlocking will cost you. ● “You'll pay for the fewest rates.”     While they will present the quotation of the fees that you'll be paying, there are actually other “delayed” fees. So, make sure you'll have a lengthy yet comprehensive conversation on what you're going to pay. <h2>Latest units</h2>To avoid getting scammed because of lack of knowledge about terminals, you should educate yourself on the most up-to-date and reliable terminals available on the market.  The ones that are worth your money iclude Verifone (most popular POS terminals in the U.S.), Hypercom (most popular POS terminals in Europe), Ingenico,  Lipman (most popular wireless POS terminals),and Thales.  <h3>Avoid them before you get caught</h3>Learning what's happening the the credit card terminal industry will definitely not only guard you from scammers but will help you to boost your earnings. Follow this practical ways and get the best out of your terminal: ● Be open to other modes of payment. Get a terminal that also processes debit cards, or even gift cards, phone cards and electronic bank transfers (EBT). ● Shop for a separate Personal Identification Number (PIN) pad. This holds efficient if you're already accepting debit cards. Also, with a PIN pad, your terminal is safe, being guarded at the counter. ● Always purchase a terminal that has an Address Verification Service (AVS) feature. ● Any terminal can be used for all types of merchant account.  Just need to reprogram to reconcile with your needs. ● Stick to getting the commonly-used terminals. ● Do a lot of consultations.  It will never ever hurt to ask for assistance. Making inquiries will enable you to verify and make sure that you have the correct information. Preventing the damage is always the best defense.  Credit card terminal play an important part on getting earnings for your offshore merchant account, or for merchant accounts in general, so, never compromise.  It's your business on the line.

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Offshore Merchant Account Revelations on Credit Card Terminal Scams

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