For business owners who want to transition to accepting credit card payments, the new addition can be intimidating at first glance. There are plenty of options to choose from, and you want to know that you’re making the right one for your business’s future. Wireless credit card processing is a great option, but some might not trust a wireless connection for all of their transactions. We’ll talk a little about how wireless credit card processing works so that it doesn’t seem as overwhelming as it might at first.
No Landline Required
Perhaps the biggest benefit to wireless credit card processing is how it isn’t reliant on a landline to perform transactions. Wireless networks are just as good nowadays, if not even better. The lack of a landline allows for much more flexibility in handling credit card processing as well. This makes it easier to perform transactions in different places besides a store and also gives you more options as to how to handle the money that you receive or refund.
Once you scan a credit card through a wireless credit card processor, the transaction happens almost instantaneously. The information is beamed to nearby radio towers and sent to merchant services providers like us here at Electronic Transfer. In a split second, the card gets verified with the customer’s bank, and the money is set aside for the transaction to finish. The merchant services provider then sends the approval or denial back through the credit card scanner to finish the process. All of this happens in a mere few seconds.
Knowing how wireless credit card processing works means trusting the wireless network’s security the same way you would for an old-school landline. All information sent through a wireless credit card processor gets encrypted and sent through fully secure channels. There’s no need to worry about data theft from a wireless credit card processor, as they’re programmed specifically for secure transactions.
At the end of each day, you’ll need to “settle” all the transactions that you performed for that day. You can either do this manually or set it up to be automatic after every day. Funds from the bank are then transferred from customers’ bank accounts into your merchant account, and the transaction is fully complete.
From FFL to taxi cabs to limo credit card processing, Electronic Transfer does it all. No matter what your business is, we can help you get your credit card processing up and running quickly and efficiently.