How to Purchase a Credit Card Machine

Any business accepting credit card payments, regardless of the size of the company, will eventually need to purchase a credit card machine. Even if your business is home-based or only online, you may want to buy a credit card machine so that you can process phone-in orders and accept credit card payments from local customers.

Difficulty: Easy

Instructions

Things You'll Need:

• Internet connection
• Pen and paper

Purchase a Credit Card Machine

1. Determine your needs.There are many choices when it comes to credit card machines. Think about how you will use the machine, what features you require and what features you would like. Here are a few things you should consider.Do you need a machine with a built-in printer? If you operate a retail store, or will be processing payments with the customer present you will probably want a built-in printer. On the other hand, if you will only be processing orders received by phone and online, then a built-in printer, along with the expensive special paper it requires, may be an unnecessary expense. Do you need mobility? Wireless credit card machines can be used just about anywhere that you can receive a cellular signal, but they are typically much more expensive than regular credit card machines. If mobility is a must, if you are making deliveries for example, consider getting a wireless model.Do you need a credit card machine that can process more than one merchant account? If you have more than one merchant account, you will either need two machines, or be sure you purchase a credit card machine that can process more than one merchant account.

2. Set your budget.Credit card machines have a wide range of prices. Higher price doesn't always mean higher quality, but you may want to spend a little more to get the features you will really use. When considering how much to spend, don't forget to factor in charges for maintenance and repair. Credit card machines aren't built to last more than a couple of years and they often need small repairs during that time.

3. Research models.Find the models that both fit your budget and have the features you require. Make a list of those models and then look for consumer reviews. Choose a model that gets high marks from other users, is within the budget you set and has the features you have decided are most important.

4. Compare prices and service.Once you've chosen a credit card machine model, search several sites to find the best price. The lowest purchase price may not necessarily be the best value. Check to see what kind of warranty is offered, and whether support, maintenance and any repairs are included with your purchase. Again, credit card machines tend to need repairs every few months, so a low-priced machine that does not include any service may end up costing you more than a mid-priced machine that includes repairs. Also, consider whether the seller offers any trade-in credits when you are ready to purchase your next credit card machine. Since you will likely need to purchase a new machine within a few years, trade-in credit should be an important factor in your decision.