Credit Card Processing Equipment Your Business Needs

Credit card processing equipment offers a point-of-sale, commonly referred to as POS, transaction that electronically transmits credit card information for customer purchases from your business.  All machines work differently, so it is important to evaluate your business needs and services before purchasing.

What to Look for: There are many options for processing credit cards:

  1. Proprietary equipment only works with one or a few credit card processors.  Since you will own the system processor, be sure it  is compatible with your other electronic equipment.  Most major manufacturers of credit card processing equipment and software are compatible, however, such as those by Hypercom, Lipman Nurit, and Verifone.  These machines are reprogrammable if you choose to change processors down the road.  Also, be certain the machine can complete the job you need and you will not have to purchase more equipment to complete your transactions.
  2. Be certain to purchase your equipment from a reliable source. When you set up a merchant account, your provider may offer a discount on credit card processing equipment and this may be the best place to buy what you need.  Also, be sure to review your return, maintenance, or exchange fees because service of the machines can get expensive.
  3. Always use a surge protector with your equipment.  The machines are sensitive to power surges and fluctuations and may be expensive to repair.  Additionally, surges can be cause the loss of vital credit card transactions that you cannot duplicate.
  4. You can add peripheral equipment for convenience in processing credit card information, which will also give your customers more payment options.  Look for machines that will help your business grow.  Machines can also offer bank quick look statements or provide other payment options.
  5. Try to avoid leasing your equipment, because it can also be expensive to fix the problems the lessor may have created.
  6. Be sure that the machine you purchased has enough memory—at least 512K.

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