Card terminal rental is an option if your business requires a card payment processing system for a short period of time (eg at a trade fair) – or if your business is developing or changing quickly and flexibility is needed.
Card terminal rental can cover any type of card payment terminal, including countertop (fixed) or mobile card terminals. Some companies may require more than one type of card terminal for their needs, so it is important to shop around for the best deals before choosing.
Different types of card terminal to rent
All sorts of businesses now use card terminals – from retail shops to cab drivers and sole traders – and it is important to choose a card terminal rental solution which best suits your business needs, as well as budget.
The main types of card terminal are :
- Contactless – used for low value transactions (under £15) for businesses like newsagents, fast food outlets, kiosks and sandwich bars
- Countertop (fixed) – traditional fixed card terminals for all debit and credit card transactions
- EPoS – offers integrated card payment solutions linked to checkout and other business software such as online payments, HR, CRM, credit control, stock control and security systems
- Mobile – uses GPRS and is widely used for small businesses, start-ups, field workers and sole traders taking payments on site and in cabs and on market stalls. Businesses may also require mobile card payment solutions for trade shows and exhibitions
- Portable – uses Bluetooth or Wi-Fi and is a flexible solution for payments taken at restaurants tables or away from the main checkout, as in bars, cafes, clubs, on the beach and by the pool. Portable terminals use business Broadband for connectivity and the number of terminals can easily be increased during seasonal peaks or busy trading periods.
As well as the type of card terminal your business requires, there are also different types of rental agreement, including short-term card terminal rental for shows and specific events, which can attract competitive daily rates; or longer leasing options if your business is established.
Card terminal rental contracts – The options
- Card terminal rental contracts can vary enormously, from a few days to a few months – or even 36 months or longer
- To operate a card payment terminal – even rented – a business requires a merchant account to service card payments and this service will also attract a monthly fee. It is possible to source the merchant account separately from a card terminal rental contract – although businesses requiring short-term card terminal rental contracts might find an all inclusive deal much easier to manage
- Hosted solutions (ie a virtual card payments system) are also becoming more popular, especially with SMEs and start-ups which do not want to invest in hardware – or need flexibility or lack space for a full checkout system. Hosted solutions also mean your card transactions are logged automatically on the host server, saving on accounts software, paperwork and accounts staff
- Refurbished card terminals are also sometimes available for rental –and for small businesses and start ups, this can be an economic way to rent a card terminal.
As well as your card terminal rental, also make sure your leasing provider is able to supply your business with:
- Till rolls and inkjets for the card terminal printer
- Equipment and software upgrades when necessary
- Easy installation or technical support for installation, including SIM card
- A card reader compatible with your business mobile handset and network if leasing a mobile card terminal (most mobile card terminal rental agreements offer card readers compatible with a range of networks eg O2, Vodafone etc)
- Reliable support and maintenance.
Also remember that you will have to pay a deposit for card terminal rental and look for options which do not have set up fees, if possible. Short-term leasing is available from around £25 per day, but remember to budget for a returnable deposit and other charges such as postage or set up.
If you would like more information and free quotes on the best card terminal rental options for your business needs, contact our agreed suppliers by completing the online enquiry form – your quotes will be with you in 48 hours and without obligation.No tags for this post.