Your Merchant Guru

An Enlightened Approach to Credit Card Processing

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Ask the Merchant Guru: Should I Lease My Credit Card Machine?

Q) Does it make sense (and cents) to lease Card Swipe Electronics?

A) Not always!

Imagine that you move into an apartment that doesn’t have a refrigerator. You can either buy one for $1000, or the landlord will lease one to you for $30/month. If you’re only going to be in the apartment for a year, leasing is a very good deal. If you settle in, get cozy and stay for a decade, that $1000 fridge just cost you $3600.

The same logic applies to credit card processing equipment. Every gadget, cord and device you need to swipe and process credit card information at the checkout counter, or even on your iPad or iPhone, could be purchased or leased. Thankfully, the equipment does not cost that much. If you plan on being in business for more than a year, buy it, and when it burns out, replace it. It’s just that simple.

“FREE Equipment” is an equally loaded offer. Credit card processors will offer free equipment as an incentive to lock you into a long-term contract – usually at a higher rate. Free equipment is never free; they just amortize the cost of the equipment into the higher rates they offer you. If someone gives you an offer with “free equipment” ask to see your option without the equipment.

Someone has to pay for the equipment you use – and that person will always be you – upfront or over the long haul. Pay a fair price now and make a plan to eventually replace it. Your bottom line will thank you in the not-so-long run.

(206) 852-1297

Ask the Merchant Guru

  • Ask the Merchant Guru: Are Minimum Purchase Amounts for Credit Cards Legal?
  • Ask the Merchant Guru: Do You Think It’s Possible For A New Credit Card Brand to Enter the Market?
  • Ask the Merchant Guru: Do Businesses Just Self-Report Their Line of Business to Credit Card Companies?
  • Ask the Merchant Guru: What Are The Worst False Promises You’ve Seen From Credit Card Processors?
  • Ask the Merchant Guru: How Much Do Vendors Pay to Credit Card Companies Per Transaction?
  • Ask the Merchant Guru: What is Interchange? Are All Interchanges Created Equal?
  • Ask the Merchant Guru: Why Are There So Many Hidden Fees in Credit Card Processing Contracts?
  • Ask the Merchant Guru: Should I Break My Current Credit Card Processing Contract?
  • Ask the Merchant Guru: Should I Lease My Credit Card Machine?
  • Ask the Merchant Guru: Why Are One Processor’s Rates Way Lower?
  • Ask the Merchant Guru: Why Should I Pay for Credit Card Processing?

Credit Card Processing Services

Credit Card Processing

Your Merchant Guru is continually "cracking the code" of the rapidly evolving credit card processing industry so you don't have to.

By enlightening you about the latest technological solutions and finding the right fit for you, we can help you get paid faster and more easily while saving money.

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If your head is constantly buried in your company’s books, then your attention isn't where you want it to be — focused on growing your business.

Your Merchant Guru offers complete bookkeeping services for small and medium-sized businesses. We help you cover every base, make every payment and hit every deadline.

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You’re making sales, but are you making money? When is the right time to invest in new equipment or personnel? Before you’re big enough to hire a CFO, call Your Merchant Guru.

Our expert business planner can analyze where you are now and create a custom plan to help guide you to where you need to be.

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