Unfortunately, there are numerous ways a merchant can fall victim to a scam when shopping for payment processing services. One of the most common, as well as financially damaging, is leasing a credit card terminal.
Far too often some smooth-talking salesperson convinces a merchant their current equipment “isn’t compliant” or “needs to be upgraded”. Surprise, surprise… they have the perfect solution! They offer a state-of-the-art terminal that is always much more expensive than you’d expect. Surely you wouldn’t want to pay thousands of dollars upfront for such a sophisticated new machine. The rep then cuts you a great deal with reasonable monthly payments for the next four years and the machine is yours.
What isn’t brought up is that the leasing agreement can’t be canceled and the true value of the terminal is usually no more than a few hundred dollars. It isn’t uncommon to pay well over ten times the value of the terminal over the length of a lease. Many of these agreements aren’t even lease to own, and in some cases, the equipment may be refurbished or less current than the previous terminal.
Most reputable companies will provide you a free terminal as a loaner or simply sell it to you at cost. Often the equipment you have is perfectly fine and can be reprogrammed in a few minutes over the phone. Sekure has a full integration team for ease of switch or reprogramming your equipment.
Sekure Payment Experts has had only one complaint with the BBB (Better Business Bureau) which was successfully resolved, thus giving us an “A” rating.