Within the payment processing industry, Merchant accounts are categorized according to how they process their transactions.<\/p>\n
There are two primary\u00a0merchant account\u00a0categories: <\/strong><\/p>\n Swiped (Card Present) and Keyed (Card-Not-Present).<\/p>\n Swiped or Card-Present Transactions: <\/strong>Are those in which both the card and the cardholder are present at the time the payment is processed, they physically swipe their customers credit card through a terminal or point-of-sale system.<\/p>\n The sub-categories within this group include:<\/strong><\/p>\n Retail Merchants – <\/strong>Normally conduct their business in an actual storefront or office space. They primarily use counter-top terminals or Point-of-Sale systems. \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Restaurant Merchants – <\/strong>Requires a special set-up that allows for tips to be added to the final sale amount by settling the transaction with an adjusted price that will include the tip amount. Card-Present Transactions also include grocery stores, department stores, movie theaters, etc. Card acceptance settings where cardholders use unattended point-of-sale (POS) terminals, such as gas stations, are also defined as card-present transactions.<\/strong>\u00a0<\/strong><\/p>\n Keyed-In or Card-Not-Present Transactions: <\/strong>Whenever the transaction is completed and the cardholder (or his or her credit card) is not physically present to hand to the seller.<\/p>\n The sub-categories within this group include:<\/strong> Travel Merchants is one example of Keyed or Card-Not-Present Transactions.<\/strong><\/p>\n Start processing credit card payments today whether Swiped or Keyed.<\/p>\n Give us a call now at 888-996-2273 so more details!<\/p>\n","protected":false},"excerpt":{"rendered":" Within the payment processing industry, Merchant accounts are categorized according to how they process their transactions. There are two primary\u00a0merchant<\/p>\n
\nWireless \/ Mobile Merchants – <\/strong>They use wireless terminals or mobile phones to run these transactions in Real-Time. Have the ability to\u00a0accept credit cards\u00a0transactions wherever they are located out on the road.
\nHotel \/ Lodging Merchant – <\/strong>Will authorize a customer\u2019s credit card for a certain sale amount.<\/p>\n
\nMail Order \/ Telephone Order (MOTO) –\u00a0<\/strong>The customers card information is gathered via over the phone, fax, email or internet and then manually key-entered into a terminal or payment gateway\u00a0software. Once the transaction is approved and completed, the product is then shipped to the customer for delivery.
\neCommerce \/ Internet –\u00a0<\/strong>Conduct ALL of their business over the internet through a web site. So all credit card transactions are processed online via a payment gateway in real-time. The payment gateway is integrated into the web sites shopping cart. The cardholders card is charged instantly.<\/p>\n