Is Your Pos Terminal Holding Your Small Business Hostage?

Ok, you've spent $14,000.00 for the latest and greatest POS terminal. Now your accounting and shipping and receiving, even your payroll functions have been streamlined. Yet, the point of sale whiz bang machine still isn't cutting your costs like you have been anticipating. Why not?

The problem may not be with your pos necessarily. What might be holding you back is the merchant account that your POS terminal was inserted with. There's a little 12 digit merchant that tells the processing company to process credit cards. It's those rates and fees being charged to your business that really need to be managed, like you'd manage your other costs. Here's how you do it.

Generally, the pos equipment sales companies make a bunch of money selling you equipment. So, these guys usually won't make a fuss if you tell them you want to change your merchant account information inside the pos. However, there are some smaller pos suppliers that earn a small reward each month for all your processing fees. These guys can sometimes be difficult to work with, when they don't want to listen to your requests to help you make the change. 

Remember, you are the boss. If a pos sales rep won't return  your calls or appear after requesting their presence, a little nudging may be required. Tell your rep that you're thinking of opening a new store and may need another pos terminal. However, you want to change your current merchant account information right now.

Because the upfront profit they'll make from a pos terminal is significant, this is usually enough motivation for them to promptly assist you. 

There are really rare instances where a pos terminal cannot be updated with a new merchant account. In those rare occasions though, a pos company will usually tell you upfront that their services and equipment are proprietary and can only be serviced by them exclusively. Be sure to ask ahead of buying this type of equipment. It's better to have a software program that can handle merchant services from a variety of companies for processing credit cards. As rates change or industry changes occur, it's better to have a backup plan in place.

The point is, you don't have to feel like a hostage to your pos machine. It's your business and who manages your money should be your decision. If you're looking for a pos terminal for your business and need a recommendation, give me a call. I have a small list of the top pos equipment suppliers in the country that have local representatives in different states. 

To lower your credit card processing fees and control your merchant account information, call me at your convenience. I'd be glad to answer any questions you may have about the best solutions available to your business.

Call me toll free today. Get started now.

1-888-604-3443

Ralph Prado

Blatant Advertising:

CREDIT CARD PROCESSING

Ok. Here's my sales pitch area.

If you've never accepted credit cards at your business, this is how much it will cost you.

$10/month (A monthly statement fee)

Visa & Mastercard Credit

1.68% + .25 cents per transaction

Visa & Mastercard Debit Cards

1.38% + .25 cents per transaction

We also have a monthly minimum required that your account must reach. 

$25. This means that your total sales must be around $1,600 a month (1.68% X 1600= $26.88) Otherwise, if your sales are, let's say $1000, meaning only $16.80 has been generated in fees, then you'll get charged the difference ($8.20) that month to make up the difference you didn't reach in fees. Does this make sense.

Those are the basic fees. Please contact me to explain the other stuff that you should be aware of. Or click here to read more about credit card processing fees. 

Want to learn even more? Go back to my credit card processing home page and click on another topic.