Every industry has its slang, jargon, and shared knowledge base. I hope this page comes in handy.
What is a Merchant Service Fee?
A merchant service fee must be paid for the privilege and convenience of accepting credit cards as payment for goods and services. As business owners, we tend to absorb that cost.
Imagine a merchant services company that ensures you are paying the industry’s fairest and most competitive rates while donating a portion of THEIR profits to YOUR favorite local charity.
What is the difference between credit card equipment and POS equipment?
🔹 Credit Card Equipment
This refers specifically to the hardware used to process credit and debit card payments. Examples include:
- Credit card terminals (standalone devices like Ingenico, PAX, and Dejavoo)
- Mobile card readers (like SwipeSimple or Square readers)
- Contactless/NFC readers (for tap-to-pay, Apple Pay, etc.)
These devices are often simple, focused only on processing transactions—not managing other parts of your business.
🔸 POS (Point-of-Sale) System
A POS system is a complete business management solution. It includes software and hardware that does much more than just process payments, such as:
- Ringing up sales
- Managing inventory
- Tracking employee hours
- Running sales reports
- Integrating with online ordering or loyalty programs
POS systems can come with touchscreens, printers, cash drawers, and even mobile tablets—like Toast, Clover, Quantic, or Union VOS.
I hope this FAQ Page has helped define these terms clearly. Please let me know if there’s another term I should add here. Thank you!
Cheers!
Alan 🍇🥕💳🧾💰
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