Traditional/countertop terminals: They are very popular and mostly used for “Card Present” transactions in retails or restaurants as the card is swiped or inserted in the terminal. In some cases, they can also be used for “Card Non-Present” transactions as the card information can be keyed in the terminal in order to process the sale.
Virtual terminals: They are indispensable for merchants who wish to accept payments online or over the phone. They are web-based applications that allow you to enter credit card details manually via the Internet. This solution enables you to take a payment over the phone or in person from your computer without a card reader.
Mobile terminals terminals (Mobile Credit Card Readers): They are versatile devices that you plug in or connect to your smartphone, ipad, android tablets, allowing you to accept payment anywhere by tapping, swiping or inserting credit cards.
Note: As a merchant, you should always make sure your payment terminal is compatible with all the softwares used in your business (Gateway, Point of sales, Quickbooks, etc) It is important to do so in order to avoid technical difficulties in the long term that could cost you delays in your payment and missed sales.
Note: There are several additional features that you should consider adding to your classic payment terminal such as contactless payments (Apple pay, Google Pay, Paypal, etc.), additional transaction types (EBT, Gift cards, etc.), tip option, custom receipt with logo, signature, and many more.