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 Retail
merchants are merchants who do business face to face with
their customers in a location other than their home, such
as a store, bar, restaurant or hotel etc and can swipe credit
cards in a credit card terminal. Retail merchants will conduct
a majority of their sales via a card swipe terminal or software
with a card swipe device connected.
Currently retail merchants will get the lowest discount
rate.
- Merchant Account
Providers
Merchant account providers represent a bank and offer
a variety of products and services that enable you to
accept credit cards as payment from customers.
- Third Party Merchant
Services
They accept credit cards payments on your behalf in exchange
for various fees and percentages. You won't need hefty
setup fees.
- Banks
If you have been in business more than two years and have
good credit, you may ask your local bank to get the lowest
possible discount rate.
- Terminal processing
- most widely used for retail merchants
You can either swipe the credit card through the machine
or enter the credit card numbers manually via the keypad.
- Software processing
Credit card processing software operates through your
computer's modem and phone line.
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