Term: Mobile Terminal

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A mobile terminal can either be a hand-held unit just for processing credit card transactions or it can be a device that plugs into your smart phone or tablet. These devices are used by many merchants ranging from charities at a fundraiser to crafters at craft shows to taxi drivers and plumbers or locksmiths.

The devices that attach to your smart phone will generally require that you download an app. The apps can vary in abilities and ease of use. While most of these devices are limited to just being able to swipe the magnetic stripe some are now being produced that can interact with an EMV chip and even accept NFC payments.

Note: If you are a merchant with a merchant account, read your contract and make sure it does not forbid you from using other processors before you sign up with a mobile payment firm. Check with your current processor for their mobile terminal offerings.

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