Card Present Merchants

Defining the Different Merchant Account Types

In the payment processing industry, every merchant is classified into a specific ?merchant account type? category, based on how they collect card information and conduct transactions. To learn which category your business is classified under, we have defined the characteristics of each merchant account type in this article. There are two main merchant account type categories, ?Swiped? and ?Keyed,? which reflect the basic methods used to capture card information. Within these main categories are sub-categories, broken down according to the business environment and processing technique.

?Swiped? or, ?Card Present? merchants Interact directly with their customers face-to-face and capture card information by physically swiping cards through a terminal or point-of-sale system. The sub-categories within this group include:

• Retail Merchants: ?Retail? merchants typically conduct business in a storefront or office where they interact with their customers face-to-face and physically swipe cards through a terminal or Point-of-Sale system.
• Restaurant Merchants: ?Restaurant? merchants require the ability to add tips to their charges (Note: Restaurants that do not process tips are still considered ?Retail? merchants in this industry). Using a special tip function, they authorize a customer?s card for a certain sale amount and then settle that authorization with an adjusted price to include the tip amount.
• Wireless-Mobile Merchants: ?Wireless? or ?Mobile? merchants need to accept and authorize cards wherever they are located, which is usually on the road. Using a portable wireless terminal, these merchants process on-site, real-time transactions at their customers? locations.
• Lodging Merchants: ?Lodging? merchants (e.g. Hotels, Motels, and Bed & Breakfasts) authorize a customer?s card for a specific sale amount and, depending on the customer?s length of stay, will adjust and settle out that authorization a day or more later to include additional fees such as taxes, etc.

Serving YOUR Business Needs

Tired of being talked into services that just don't work for your business? We'll create the package that works for your e-commerce goals. It's why we're the choice of many of North America's leading businesses.

Keeping Transactions Safe & Secure

Global Payment Technology is PCI Level 1 certified. We've developed partnerships with top technology providers and banking institutions. You'll receive dependable online payment processing at all times of the day or night.

Adding more to your System

Global Payment Technology offers one of the most comprehensive back-end systems available. You'll get access to numerous payment methods, flexible integration options and many additional free tools to help you streamline your transaction flow.