Should I Lease or Purchase Credit Card Processing Equipment?
Credit card processing provides your customers with options beyond cash transactions. Even more, the right processor and equipment can help protect your businessfrom the financial fallout of fraudulent purchases.
Choosing the right credit card processing equipment and payment processing service provider is extremely important for your business. There are many decisions you will make in your search for the best credit card processing equipment for your business, including whether leasing or purchasing equipment is the best path forward.
Payment Processing Equipment Basics
Your first priority is finding a payment processing system that is compatible with your existing systems and equipment. Once you do that. Your next goal is to work with an organization that provides adequate customer service, 24/7, to help guide you through the process of getting your new credit card processing equipment ready for business.
Because there are differences from one system to the next, outstanding customer and technical support may prove invaluable in helping you get your equipment set up right the first time. Not to mention the on-going 24/7 support you’ll need if anything comes up down the line.
Buying vs. Leasing: Which Choice is Best for You?
Believe it or not, there are pros and cons to keep in mind for both. If you purchase your equipment it will need routine maintenance and updates. These things add costs to the equipment down the line. There may also be fees for setting the equipment up, technical support to assist you in the set-up process, and then again to interface the new equipment with any of your existing equipment, such as a point of sale (POS) system.
While leasing may sound like the more cost-effective option for cash-strapped small and mid-sized businesses, that isn’t necessarily the case. You may find you are paying an abundance of added fees for the use of the equipment in addition to overpaying the processor that is leasing you the equipment to begin with.
Many equipment leases come with an extended contract ranging from 12 to 60 months, with monthly fees of up to $100 for equipment that would only cost a few hundred to purchase or that you could receive for free from some providers.
When you get down to the nuts and bolts, it may seem like neither are very attractive options. Fortunately for you, they aren’t the only options available. Shop around a bit before you decide to lease or buy. The extra shopping now may save you a world of hassle and headaches later.
What about FREE Credit Card Processing Equipment?
At Bankcard Services, we offer a world of benefits to our customers you won’t find with other merchant services providers including flexibility in billing options, a huge variety of services, outstanding technical and customer support, and FREE credit card processing equipment.
That means you don’t have to pay to lease or buy the equipment. We believe in helping business owners achieve their greatest potential by providing ethical services designed to promote your success. This includes a large selection of payment processing solutions. We understand that your business is unique, and we want to help you create the success you know your business can be by providing you with the right tools.
Bankcard Services offers a business-friendly way to process credit card and other payments with month-to-month, no long-term commitments. When partnering with us, you will enjoy transparent billing practices that are easy to understand, flexible arrangements and terms, and FREE payment processing equipment. Contact us today to learn about how we can help your business achieve more with payment processing services designed to meet your needs.
