Credit Card Machines: What You Need to Know | Automated Merchant Processing: Merchant Accounts Simplified

Credit Card Machines: What You Need to Know…

before signing up with a merchant account provider. This isn’t “the sky is falling” type stuff. Just a quick overview about a few tidbits of information you should know about credit card machine options before you sign a contract.

For starters, you should avoid accepting an agreement that includes, or pushes for, a credit card terminal lease. There just isn’t a good reason for this. Ever.

If you ask me, any sales rep suggesting that this would be good for you is reason alone to talk to someone else. Just check out the previous article and read carefully to find out why.

So instead of the lease, here are 3 options you should definitely consider…

Wholesale

One option is to do some research online and pick up a credit card machine direct from a supplier that does NOT do merchant processing. You can get a really great price on the equipment. Just be sure to ask about the need for reprogramming.

You can also check out ebay (now that most of the scammers are gone). Lots of folks sell their older or no longer needed equipment. Again, be sure that it can be reprogrammed.

One quick tip: LinkPoint machines can NOT be reprogrammed. Ever. So avoid these like the plague.

Retail

Another option is to just buy the darn thing. Here’s where you’ll find out how the sales rep gets paid. If they insist on a huge markup, you’ll know that they only make their money on selling you the equipment.

And that’s a problem, because once you sign up, you’ll probably never hear from them again. And since you’ve done your research (hopefully), you’ll have a pretty good idea of how much the darn machines cost anyway.

Now, not all machines are the same. But with your research, have the sales rep justify their price to you. Okay?

Free Equipment Programs

Finally, there are free equipment programs available. In fact, more often than not this is the option most of my clients prefer (if they qualify). Not only is the credit card machine free, but some programs offer free replacement of defective machines for life.

Now, in my book, that’s not a bad deal. Just be sure to understand the requirements of the program before signing up and you should be fine.

If you’d like some help in deciding which option is best for you, send us an email to info@ampyourcashflow.com and we’ll help you out.