EMV Capable Terminal – Lease or Buy!
Do not Get Scammed into paying for something you cannot use!
I must confess. I never thought credit card processing companies would attempt to lease credit card terminals again but some of them are back at it, again. I never liked the idea of leasing merchants a terminal that cost $200 and charge them $50 a month for four years paying a total of $2400. Complete rip off! However, that was a big part of this industry for many years and it is happening again.
I was visiting a chiropractor to help with some neck and back issues. When I paid, they swiped my EMV chip card. I asked them why they swiped my chip card into their EMV capable terminal instead of using the EMV Chip reader. They said they had the right equipment to process EMV chip cards but their processor didn’t have the software to use in their Verifone VX520 EMV capable card reader. I knew that was true because the industry has really struggled to get up to speed with EMV certification because it is such a difficult process.
My chiropractor’s merchant account processor approached them one year before the EMV Chip card deadline of October 2015 and warned them of the upcoming EMV liability shift. The sales person told them to take advantage of getting the EMV capable credit card terminal now and not wait until October 2015 when the processor will be overloaded with support requests and too busy to get them the terminal. This salesperson also stated that when October 2015 comes around, they would have the program ready to process chip cards. As of June 2016, the processor still does not have the software required to run the EMV capable card reader.
Don’t Lease an EMV Capable Terminal, Buy it for about $200.
This is where it gets interesting or nasty depending on which side you are on. The sales person told them that the new EMV Chip terminal was very expensive and they should lease the terminal. In fact, the merchant’s salesperson didn’t even give a price to purchase the terminal and the salesperson manipulated and lied to my chiropractor and sucked them into a 4 year lease at $49 per month plus taxes. I couldn’t believe it. Now they will pay close to $2700 for a terminal they could have bought for about $200 or maybe even use it for free. Needless to say he was very frustrated and is now stuck with about 2 1/2 more years on his lease. To make matters worse, the EMV functionality of the terminal still does not work!
Do you think Leasing is the only option and EMV capable terminals are expensive? Don’t believe it!
Are you still waiting for your merchant account processor to provide you with an EMV capable card terminal? OR do you already have a terminal but are waiting on your processor to load the supporting software to make it EMV capable?
Don’t wait any longer. We can help and we won’t rip you off. You will get excellent transaction rates. In addition, if you are a level 4 merchant processing less then 20,000 Visa transactions per year, we won’t require you to do any PCI compliancy testing or quarterly scans and no PCI fees. Thats right! No PCI Compliancy Testing, No Quarterly Scans and No PCI Fees.
Yes, there are honest merchant services providers out there that operate with integrity and we at Access Payment Systems will make sure we always operate with high ethical standards.
Feel free to Contact Us for more information on Credit Card Processing, or eChecks and ACH Transactions. Or take us up on our FREE Merchant Account Analysis offer. We’ll analyze your merchant account rates and let you know how to Save! If you are ready, you may be able to Switch and Save!