Question about credit card payment systems.?

I have a new business and its sales activities are centered on craft fairs, fairs etc. and the internet. The internet piece I have figured out but for the point of sale activities I am of course inundated with offers to sell me payment systems. My questions include; do you lease the payment terminal or do you outright purchase it? What is a %26quot;good rate%26quot; for these services. Are there any hidden gotchas to look out for?

Thank you.

Question about credit card payment systems.?fha loan

If you are hoping for long term success of your point-of-sale side of the business, it would make more sense to purchase the terminal. It is a sea of predators out there, though who want to sell or lease them to you. You need to be very wary.

Ask them if there is a contract, whether or not you buy the equipment. (the right answer is no)

Ask them if you can purchase the equipment on your own and have them process payments from it. (the right answer is yes, with no fee)

Ask if there is a monthly processing minimum. (if you plan to sell quite a bit, this may be a non-issue)

Ask what the monthly fee is. (shop around for the lowest, and if they give you crap for wanting to compare prices, hang up in a hurry)

Ask what the debit rate is and what the credit rate is (again, shop around for the lowest)

When you think you%26#039;ve found the best deal, and you are talking with the sales weasel, say %26quot;ok, so if I go with your company, all I%26#039;m going to pay is $Xxx upfront, $Xxx per month, and x% per sale, is that correct? Are there any other charges at all?%26quot;

They don%26#039;t like it when people know exactly how much their service is going to cost. Ask to speak with a supervisor if they still don%26#039;t clarify it for you.