Merchant account equipment is often a necessity for processing debit and credit card payments. In this article we will review options for merchant account equipment, known as payment gateways, and the pros and cons some merchant account equipment.

When you are setting up a business – either online or offline (or both) – you will need a certain amount of equipment, a payment gateway, if you plan to accept credit card payments. And, because studies have shown that people spend more when they use credit cards (not to mention the fact that most people prefer credit cards), it is usually a good idea to accept them. It will open your business to a wider customer base, and possibly even allow you to make more sales.

Merchant account equipment, or a payment gateway, is used to facilitate payment processing for debit and credit cards. It can be bought for online or offline purposes. Most businesses that have a brick and mortar store in addition to an online business find that it is a good idea to get merchant account equipment, such as a credit card terminal, that is compatible. Additionally, if you have a mobile business, you will also need equipment that you can take with you on the road to process credit card payments.

Options for merchant account equipment

There are many options for merchant account equipment. For the most part, you will have to decide on the following equipment options:

• Terminal: This is the piece of machinery on which you run the credit or debit card. You can get a terminal that is built in as part of the register, or you can get a separate terminal. Many business owners prefer the separate terminal, however, so that customers can input their own information in relative privacy. Terminals run between $100 and $700 on average, depending on the features you get, as well as whether it is a used terminal or not. You can usually purchase refurbished terminals cheaply, but you may have to sacrifice quality. If you do a lot of business, a used terminal may not be the way to go. If you process very little physically, a refurbished terminal can be a cost efficient option.
• PIN pads: These are used as a payment gateway to allow customers to use debit cards when the terminal is located on the register. This way, customers can enter their PIN code. These cost between $50 and $300 on average.
• Printer: The printer is what actually prints out the receipt. There are terminals that combine with a printer. These usually cost more than the individual parts, but can cost less than if you bought a printer and a terminal separately. Some businesses use the printers on their registers. If you can get a terminal to work with the printers you already have, it can be a good way to process customer payments.
• Wireless merchant account equipment: This is becoming more popular as people don't want to deal with cords. Wireless machines are also nice, because they can be used in various places in the store, and can be easily moved from one register to another. Wireless merchant equipment can also be used in some cases for mobile business to process credit cards. As one might expect, wireless machines are usually more pricey than wired payment gateways.
• Phone processing: It is possible now to get the software and applications to process credit card payments via phone. It is possible for you to get phone processing for a set-up fee and sometimes a few other fees. Some companies will set it up for you for as little as $35. In other cases, you might have to pay as much as $75. Phone processing is becoming a more popular option as a payment gateway in some cases where the offline store is relatively small, or in cases where the seller is very mobile.
• Internet ecommerce merchant account equipment: For the most part, when you do online payment processing, the terminal is basically in software program form. You need to buy credit card processing software that is compatible with your shopping cart software, this acts as your payment gateway. Packages are available that combine all the functions you need. You can buy the necessary programs outright, or you can pay for a monthly service.

No matter what merchant account equipment you get, you will have to make payments beyond the equipment. Most merchant account services charge transaction fees and other fees. So it is important to realize that once the equipment is bought, the expenses have not ended. Do your research and get the equipment that works best for your business needs, and that is compatible with the merchant account services that you use.

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