As more retailers are adding the option of credit card processing to their business, the demand for good credit card machines is also growing. So what does it take to buy a credit card machine? Here are some things to look out for when buying one.
It helps to understand what type of technology you need: If you want to purchase credit card machines, then make sure you go for the latest model which is capable of processing all major brands of credit cards. Do your homework and find out what features are available in the market and then buy a device which has most of them. Avoid buying older models since they may not have all the features which are present in the latest models.
Make sure it comes with all the essentials: Once you have decided to buy credit card machines, you should check out the specifications. Make sure the machine you buy comes with all the basic necessities like receipt printer, terminal, printer, and software. Also check out if it includes an AC adapter in case you need to operate the machine from a laptop or any other electrical appliance. Remember that many users rely on the machine for its convenience rather than function so you need to keep it running in top condition.
Connectivity is important: It is very important to check the speed at which the terminal can process transactions. There are machines that take a few seconds to process a transaction while there are others that can do so in a matter of a few seconds. Hence, you need to decide on the speed of the terminal since swipers love to complete their work quickly. This is because swiping a card is fast and convenient and hence the swiper prefers to do it quickly in order to complete his job. Therefore, the speed of the terminal greatly affects the speed at which the swiper completes his transaction. If your credit card machine is one capable of handling a high rate of transactions at once then go for a faster terminal.
Hidden fees: Most credit card machines come with hidden fees. Some of these include membership fees, transaction charges, and setup charges. There are also some costs involved when it comes to upgrading the terminal and adding more features. For example, you may be required to have a square terminal if you purchase a square-shaped terminal. However, you should be aware of the total cost of the purchase including the hidden fees.
Long-term contracts: There are certain long-term contracts where the seller is able to charge a fixed amount even after a year has passed. In some cases, the seller is able to charge an annual amount. When you buy a new credit card machine, it is advisable to negotiate a long-term contract in order to avoid hidden fees. In fact, you can save a lot of money by doing so. Moreover, if your company is in need of new credit card machines, you should discuss this with the seller and try to agree on a fixed payment term. On the other hand, if you do not want to go for long-term contracts then you should consider getting your devices on short-term terms like 3-year or 6-month contracts.
Dealerships: You can find a number of dealers selling credit card machines. However, not all dealers provide the best price. The price of a device largely depends on the brand name of the device and the price of the installation charge as well. Therefore, if you want to save money then it would be better to stick with reputed dealers who provide the best devices at a reasonable price. Also, you can look for deals offered by manufacturers of the Square Terminal manufacturer.
Long-term contracts: Since most credit cards transaction takes place online, you should ensure that you get your devices on long-term contracts. While some devices are designed to work indefinitely, you should make sure that they are designed to work when you want them to. This would help you save money on future repairs and maintenance costs. Also, it would help you get the latest Square Terminal models and avoid being left behind by your competitors. In case you find that the dealer from whom you bought the terminal is not ready to offer long-term contracts, you can look for another dealer.