As a business owner, you have the option to rent credit card terminals. Find out how you can find and rent the best credit card terminal for your business.
It is cost-efficient to rent credit card terminals. It is your prerogative whether to do this on a short or long-term arrangement. The price difference is an essential factor and rental firms concentrate on this kind of offers. It is possible to get hold of a merchant account or allow the service provider to set up an account for you.
At times, it can be less expensive to choose the former because you can accept credit cards as payment from a third party. This is more practical instead of paying for it at the rental firm.
Tips in Acquiring Rental Terminals
- Find places in your locality where you can rent the credit card machine for business. Local rentals are advisable than placing orders online. You just need to research the prices for both types of rentals. Know the kind of credit card equipment you need. A number of rental companies will provide you with a product that accepts all credit and debit cards with PIN requirements. Others offer a limited selection. Thus, you should decide what you can sacrifice for cost.
- Request for quotes on exact rates that you need to pay when you rent credit card terminals. This can be a daily, weekly or monthly flat rate, plus a per-transaction charge. It will depend on the company you select. Some rental companies give lower rates than others so you have to do your research very well.
- Confirm if you can rent the cheapest credit card terminal for a limited period and if the rental company can deliver it promptly. Late deliveries can result in lost profits. Moreover, you may not like a long-term contract especially if one is not necessary. Take into account a machine that accepts gift cards. This may be more expensive but it will permit you to process more transactions.
- Look for a wireless credit card processing terminal if it is what you require. This model can easily process credit and debit card transactions without any connection to a PC and ideal for off-site events like trade expositions.
- At the same time, search for a company with leasing deals. The rental for refurbished machines can be cheaper than brand new machines. Compare the cost of credit card machine purchase and one that is rented. Occasionally, the cost of leasing can be higher than the cost of an outright purchase. If you need the machine for less than six months, leasing is the least expensive mode. Do comparison shopping so you can figure out the best deal which will fit into your budget. You also have the option to resell the terminal later.
- Review the contract provisions of the credit card equipment rental. Some companies impose an early termination fee even for short-term contracts. Look carefully at the terms and conditions and check for any hidden charges. Take note that some companies prefer a specific duration such as a one-year lease. Still others may favor a monthly rental agreement. Deposits are usually refundable but you are liable to pay for as long as the terminal is with you.