Wed. May 29th, 2024

Whether small or large, retail merchants need retail merchant accounts and retail merchant services provider in order to process credit/debit card transactions. Retail merchant services provider act as an intermediary between companies and issuing banks and processes card transactions to complete purchases.

What is a Retail Merchant Account?

A retail merchant account is a particular account that allows retail stores, restaurants, and other types of business to accept payment that is made through debit cards, credit cards or mobile payments. Without a retail merchant services account, a company will only be able to accept cash and checks and lose customers who use cards to make payments.

Companies int retail merchant services know that customers want numerous payment options at the time of billing, so they need to accept payments through debit cards, credit cards, contactless payments, mobile payments. If a retail merchant also provides retail merchant services online, then he should also have payment gateways to accept payments. Not being able to offer multiple payment options can lead to loss of business which retail merchants do not want.

Retail merchant services that accept credit/debit card payments can easily grow their business because the customers are moving towards card payments as it saves the customers from the hassles of carrying cash. Moreover, best retail merchant services provider offer payment processing solutions that can scale as your business scales.

Equipment Needed To Accept Payments

There are several terminals that a retail merchant services account can use to accept payments, like countertop credit card machines to EMV terminal to complete Point of Sale systems. Let us discuss these in detail:

  • Countertop Credit Card Machines

Countertop credit card machines are ideal if you want to accept payments from customers in a static location like a retail store, cafe, restaurant or convenience store. These machines can not be taken around in the store and stay in a place. Countertop card machines can be connected through broadband or phone and need their own power sockets. Countertop card machines also enable you to accept contactless payment.

  • EMV ready Standard Terminals

EMV cards are chip cards that store data on the integrated circuit chip in order to reduce frauds. EMV is the global standard for chip-based transactions. As EMV transactions are always card-present transactions, the businesses need EMV ready terminals. The retail merchant services install EMV terminals as they offer effective protection against card-present frauds. EMV ready terminals are secure, manageable, and technically superior. It protects the business from risk and frauds and simplifies payments. Retail merchant services use EMV payment solutions as it enables them to process chip cards for greater security.

  • Mobile Card Readers for Phones and Tablets

Mobile card readers are great for businesses to make sales at events or on the go and accept payments through credit card processing. The mobile card readers give companies an advantage to conveniently accept payments anywhere. Best retail merchant services prefer mobile card readers as these are add-on devices that connect to smartphone or tablet and take minimal space and turns the device into a mobile Point of Sale. Mobile card readers offer several functions and enable transactions through chip card, swipe, and contactless payment methods.

  • Wireless Terminals

Wireless terminals are handheld devices that are used for credit card processing by retail merchants. It is a popular choice for some businesses like restaurants, coffee shops etc., because it allows you to take the card terminal to your clients and serve and settle bills there only. Wireless terminals are easy to use, reliable and can accept card payments and contactless payments.

  • Point of Sale(POS) system

Point of Sale system is a suite of technology that enables you to process payments at retail locations or restaurants or coffee shops etc. POS serves as a central hub for a business, and in addition to processing payments, it lets you track inventory, manage employees, engage with customers. It helps to streamline retail operations and get access to real-time data. A Point of Sale system enables the retailer to run its business efficiently and grow it.

Read Also: 7 Tips to master the customer experience at POS

  • NFC Enabled Terminals for Apple Pay and Google Pay

NFC is a Near Field Communications Technology that lets two NFC enabled devices to exchange information. NFC payments are also known to as “Tap and Pay” or “Tap and Go” payments. NFC enabled terminals allows retailers to accept contactless payments from customers via mobile wallets such as Apple Pay, Google Pay or Samsung Pay.


More and more customers are using cards and electronic payments at retail locations. If your retail business does not offer multiple payment options to your customers, it will badly impact your business.


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