Used Credit Card Machines

When it comes to setting up your business so that you can accept credit cards and debit cards, things can start to get expensive. There are a number of fees and other costs associated with getting a merchant account, and setting up the machines you need to process credit card transactions. Indeed, some of the fees that you might pay include administrative fees, application fees, equipment fees, set up fees, monthly fees, transactions fees, processing fees and more. When you have to buy a credit card terminal on top of that, things can become pretty overwhelming rather quickly. One way you can reduce the cost of buying terminals is to buy used credit card machines.

Used and refurbished credit card machines

Some businesses choose to rent or lease their credit card machines, rather than buy. When they return the machines to their merchant account providers, the providers may resell these terminals. Other businesses might clean house every few years, getting rid of their old machines and replacing them. In either case, it is possible to pick up used credit card machines at a lower price.

Used machines usually cost between $100 and $300 less than new machines. In some cases you might get an even deeper discount, especially if you pick up the machines from a business that is liquidating or going out of business. This is the biggest advantage of buying a used credit card terminal. You can get a relatively high end model for much less than normal. In many cases, a used credit card payment processor will work just as well as a new one.

Refurbished credit card machines are those that have been re-fitted for service. They go back to the manufacturer and the manufacturer fixes the major defects and then re-fits them for resale. One of the advantages to getting a refurbished credit card machine over one that is just used is that many manufacturers often provide warranties on the work. That way you have some sort of guaranty that the machine is likely to perform well. And you are more likely to receive a replacement if something goes wrong.

Obviously, the main drawback to buying used credit card machines is that you do not know when the terminal will break down. Most refurbished machines are only guaranteed for six months at most, meaning that once that initial period is over, you are out of luck if something happens to the terminal. Another downside is the fact that you will not have the latest equipment and software. For many businesses, this does not matter. But for some, it is important to have the latest software and upgrades. For businesses with high volume and heavy usage, it is sometimes better to get a new machine. If you do not expect to need to process credit card and debit card payments very often, a used machine is usually adequate. If you want a new credit card machine, but cannot afford a new terminal, you can usually rent. Many merchant account providers will rent units to you for between $15 and $65 per month, depending on the model you get. This allows you to get the latest service upgrades, and even new models without having to make new purchases.

In the end, you need to consider your individual business needs. Look at your possible volume, and also look at the kinds of transactions you are most likely to engage in. Then set your price range. It might be that used credit card machines will fulfill your needs.