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"What Type Of A Business Do I Have?"
Here are Credit Card
Processing Consulting's definitions of each business by
category.
Click on the needs of your category so you know
what type of hardware, software
or any other credit card processing mediums you should consider.
1. RETAIL - Any business swiping 80% or
more of the credit cards through a
magnetic swipe reader, (MSR). Some examples
of retail types are hardware stores, general
merchandise, clothing stores, beauty salons, nail
salons, jewelry stores, tanning salons, medical services
and most of the other businesses listed in the phone
book yellow pages.. However, other business types
such as lodging or restaurants can swipe 80% of the
cards also but other factor place them into their own
separate type of business.
What
does a Retail Merchant Need?
2. RESTAURANT -
Any "Dine In"
restaurant swiping 80% or more of the
credit cards through a magnetic swipe reader,
(MSR), by having most customers either dine in
or pay for the food at the restaurant instead of
processing the card from a phone conversation. The
difference between the restaurant and the retail
business is that the restaurant initiates tips in their
transaction. These tips are not subject to processing
fees when properly implemented.
What does a Restaurant Merchant
Need?
3. LODGING - Any business like a hotel, motel, cabin
rentals and etc. This business type has their own
category because they will first ask for credit card
information over the phone when the reservation is made
and if the customer does not call to cancel by a certain
time the customer's card is charged.
What does a Lodging
Merchant Need?
4. MOTO - Any business selling by Mail Order or Telephone Orders. These business types are
not going to physically have a customer's credit
card in hand and swipe it. Almost all transactions
are keyed into a terminal, POS system and
etc. Examples: Infomercials on TV, Home
Offices, Construction Contractors, Traveling Sales
People, Internet Service
Providers, Utility and Telephone Companies,
Delivery Services, Patient Transfer
Services, and etc.
What does a MOTO Merchant
Need?
5. MOBILE MERCHANT - Mobile merchant are
categorized by accepting credit card information from a
customer either by writing the information down or using
an imprinter to key in that information when they get
back to the place of business or use the telephone
and give the credit card information over the phone to a
person who would key in the information to a terminal or
personal computer. Examples: Pizza delivery like
Domino's Pizza, Arts and Craft Shows, Limousine and Taxi
Drivers, Caterers, and etc.
What does a Mobile Merchant
Need?
6. HIGH RISK MERCHANTS - The High Risk Merchants are
those that sell certain types of products, have long
lead times between charging a credit card and delivering
the product or service, can have a high chargeback
ratio, outside the US and etc. Examples:
Businesses or Owners that have tax liens or a bankruptcy
on their credit report, a business outside the US, time
shares, gambling or gaming, online pharmacy, credit repair and
counseling, adult, collection agencies, bail
bonds, multi-level marketing, outbound
and inbound telemarketing and etc.
What does a High Risk Merchant
Need?
7. WIRELESS MERCHANTS -
Any business swiping the
credit cards through a magnetic swipe reader, (MSR),
with a wireless terminal, cell phone or laptop, to name
a few. Wireless merchants will receive the
qualified rates with a good wireless
system. Wireless merchant types may also include any MOTO
merchant or Mobile merchant swiping the cards through a wireless device.
What does a Wireless Merchant
Need?
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