An honest company will give you the best rates without a credit card machine lease. We’re talking about saving thousands of real world dollars here! 4. The amount that you pay in fees throughout the life of the lease isn’t worth the deduction when you compare it to the price of buying a new terminal outright. Yes, a terminal lease can be a tax deduction but it doesn’t means that’s good.
(unless you feel compelled to help with braces, but that’s a different story.) 3. Arm yourself with the knowledge that you can easily get a fantastic terminal for less than $400, and no matter how the rep smiles at you, decide that you’re not going to pay an extra $1,000 for their smile. The average lease of a credit card machine is 48 monthsĪll of this, because a rep walked in that had an honest face? I don’t think so. Let’s be honest here, if the rep has an honest face it’s not that hard to get sucked into a lease with a provider. Let’s look at some numbers that will help lay this out a little better: It can do chip cards (EMV) and also allow for nearfield technology. New terminals cost anywhere from $150 to about $400, depending on the brand. The terminal that we recommend is the VX 520 CTLS and costs around $250. It’s cheaper to buy than lease a credit card machine. If they’re sketchy in the beginning of your relationship, what else is hidden in the fine print that you should be worried about? Find a merchant processing company that wants to help you save money rather than force you into a lease. If they can sign you up for a lease, they earn a big payday for signing you up, and they can ride off into the sunset. In many cases, the processing company rep you’re meeting with will only make any money off your account if you sign a lease, so for the rep it’s a negotiating factor. It’s up to each processor to decide how they’re going to charge for terminals. There is no rule in the credit card processing industry that says leases are required. Some reps may tell you that leasing their equipment is necessary to process credit cards with them. Why Credit Card Machine Leases are a Bad Idea 1. Here are 4 reasons why you should never lease a credit card machine for your business. If you’re talking with a company rep that says you have to lease a machine to do business with them, they’re not the company for you. If you wish to have a review done of your processing statement and fees you can contact us at, 1-86 ext.225 or visit us online at, the past, businesses accepting credit cards had few options but to lease a credit card machine. Sekure Card Services has had only one complaint with the BBB (Better Business Bureau) which was successfully resolved, thus giving us an “A” rating CLICK HEREto see SekureCards BBB rating.
#Lease credit card terminal full#
SekureCard Services has a full integration team for ease of switch or reprogramming your equipment. Often the equipment you have is perfectly fine and can be reprogrammed in a few minutes over the phone.
#Lease credit card terminal free#
Most reputable companies will provide you a free terminal as a loaner or simply sell it to you at cost. Many of these agreements aren’t even lease to own, and in some cases the equipment may be refurbished or less current than the previous terminal. It isn’t uncommon to pay well over ten times the value of the terminal over the length of a lease. What isn’t brought up is that the leasing agreement can’t be cancelled and the true value of the terminal is usually no more than a few hundred dollars. The rep then cuts you a great deal with reasonable monthly payments for the next four years and the machine is yours. Surely you wouldn’t want to pay thousands of dollars upfront for such a sophisticated new machine. Surprise, surprise… they have the perfect solution! They offer a state-of-the-art terminal that is always much more expensive than you’d expect. One of the most common, as well as financially damaging, is leasing a credit card terminal.įar too often some smooth talking salesperson convinces a merchant their current equipment “isn’t compliant” or “needs to be upgraded”. Unfortunately there are numerous ways a merchant can fall victim of a scam when shopping for payment processing services.
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