There are a variety of credit card processing solutions available for merchants to utilize, letting them accept card payments, including credit, debit, EBT and contactless, from their customers. Each possesses its own unique attributes. While some are tailored to meet the needs of specific business types, others are viable options regardless of industry.

The Clover® Station is offered by leading credit card processing platform First Data, as well as the merchant services companies it’s partnered with. However, the Clover® Station is not just a payment solution; it’s a management system designed to help merchants overcome daily challenges they face.

Chargebacks are inevitable for merchants. Even if you follow all the necessary protection policies, there’s always a slight chance you'll have to face chargeback claims from customers.

These reimbursements of funds occur when a customer disputes a credit card purchase. In many cases, the charge is due to fraudulent activity, but there are also instances in which consumers challenge a purchase they knowingly made, or question one they can't remember—chargeback fraud and friendly fraud, respectively.

With multiple avenues of funding available for businesses in need of capital, selecting the most beneficial method can sometimes prove difficult. Although business loans are a commonly discussed option, not all merchants qualify for such funding, and some would rather look into alternative choices, anyway.

When it comes to hiring any company to work with your business—a vendor or supplier, for example—there are certain questions you should always ask. Well, your credit card processor shouldn’t be any different. Peppering potential companies with the right questions will not only inform you about the operations and other critical aspects of their business, but their demeanor during these inquiries—and any details they do not openly volunteer—can be just as insightful.

While some businesses have still not adopted chip technology, the movement toward EMV—which stands for Europay, Mastercard, Visa—is slowly but steadily underway. Since the associated liability shift in October 2015—whereby non-chip-equipped merchants can be held liable for fraudulent so-called "card present" transactions—U.S. consumers are increasingly utilizing their chip cards as a way to make in-store purchases.

Not too long ago, business owners wishing to accept card payments from customers could only do so if they applied for a merchant account and were approved by the payment processing company—the acquiring bank handling the transaction process.

While still common, new ways of obtaining this capability have also emerged—in the form of third-parties, such as San Francisco, Calif.-based mobile payment company Square, for example. These enable business owners to process consumer credit cards without actually having a merchant account.

Such options are intriguing, yes—but are they really the best options for merchants? Not always.

Every merchant is wary of chargebacks and how these can affect their business. While it’s nearly impossible to avert them all, merchants are always thinking about what they can do to avoid as many such claims as possible.

To run your business like a well-oiled machine, you need several key components: capable employees, an efficient process, and quality equipment. For merchants, this means obtaining the right point of sale (POS) systems. With so many solutions available, however, narrowing down your options can be tricky. With that said, there are certain features every POS system should have, and if not, you should probably move on.