With
so many choices, it can be hard to know what's best
for your business.
We've done the homework to
reduce the complexity and simplify your decision.
Tips for buying bankcard terminals
- Avoid over paying, however strongly consider more than initial equipment costs when shopping.
- Identifying the right solution should be your first criteria with a professional consultation.
- Be aware that there are companies that artificially lower the price of equipment simply to lock merchants into long-term processing contracts with stiff cancellation and early termination fees.
- Consider that proper programming is key to implementation success.
- Note that having your equipment warranty with your processor will save you time, effort and shipping costs in the long run, so so choose your processing partner and your terminal purchase as a package based on overall value - a fair deal on both.
- Remember, you get what you pay for.
- Nothing is free - Free equipment offers are laden with monthly and annual service fees, long-term contractual obligations and you never own the terminal so you can't keep it at the end of your committment.
- Equipment that was originally deployed as Free but was not returned to the processor can often be found on auction sites. Pay special attention to this risk because these units contain a proprietary chip so that it cannot be reprogrammed for your needs.
- Proprietary equipment that will only work with a particular processing network is a lockin you want to avoid on the front-end.
- Never LEASE bankcard equipment!!
The number one reason not to lease bankcard equipment is that you are upside down before you sign the personal guarantee. For example: a $39 lease for 48 months will cost over $1,800. Within months the terminal equipment rapidly depreciates to the used equipment prices of around $300 or less, but you still owe $1,700.
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