What is a POS Terminal and Why Might I Need One?
If you own your own business and you want to take credit cards you will need to find a merchant account provider that provides merchant account services and equipment. You will normally get a POS (point of sale) terminal that you will use for swiping the credit cards. You will be charged different amounts for different cards each time you run a credit card. The only drawback to merchant accounts is the chargebacks. These do not happen often (or sometimes at all) but the bank providing the service charges you a lot of money for chargebacks. The customer service personnel will go over the terms and conditions with you when they install your terminal.
