What You Need to Know About Point-of-Sale Terminals?
If you are a small business owner planning to set up a merchant account, you will be using Point-of-sale (POS) terminals-that is, debit card (Interac) and credit card machines. There are several things you should know about POS terminals that can help minimize your costs of doing business and can maximize the efficiency of your day-to-day business operations. First, is it more in your interests to rent a terminal-usually from a bank-or to buy one outright? The financial benefits of ownership are considerable. Aside from providing your business with a tangible asset, ownership will save you a lot of money in the long run. If you can afford the up-front cash, a POS terminal may set you back somewhere in the area of $1000. Renting from a bank, which typically charges between $30-$50 a month, will end up costing you possibly double that amount within four or five years. A compromise would be to lease-to-own from a private company, which would still cost more money than buying the machine o
