Whether you are setting up a new enterprise or working on a strategy to grow your existing business, if you accept card payments, you can save money and time by paying for your card machine upfront.Read more
22 May 2022
Whether you are setting up a new enterprise or working on a strategy to grow your existing business, if you accept card payments, you can save money and time by paying for your card machine upfront.
Let’s find out more about the benefits, as well as how to make sure you’re choosing the right kind of machine for your business.
With our Pay Once plan, you can say goodbye to card machine rental fees forever. You pay a one-off fee of £299.95 +VAT, and that covers the cost of your card machine for as long as you stay with us.
Meanwhile, you can accept all the payment methods your customers trust using the best in card machine technology, with the Verifone V240m. You won’t be tied into a contract, and there are no cancellation fees. The card machine remains the property of the company so if you decide to switch providers at any point, the card machine will need to be returned.
To process card payments, you will need a merchant account, and choosing the right provider is crucial. A payment service provider (PSP) can help any business to process and manage the acceptance of a wide range of payment options. It’s their job to make sure a transaction is safely and securely completed; from the moment the customer pays to the point at which the money lands in your merchant bank account.
In a recent article, we outlined the importance of choosing the right payment services provider for your business. When you are exploring your options for taking card payments, you will want to choose a card machine and contract that is the best fit for your business. Each provider will take you through a series of questions that will help them to ascertain which of their products or services will suit your business best, but it is not always easy to make direct comparisons between providers.
Before you can decide which payment provider to choose, you will need to be confident that the products and services they are able to offer fit well with your business needs. For example, if you need a card machine that can take card payments in different locations or can be moved around, there is a higher chance that it could be dropped and damaged.
Your wifi connectivity will have an impact on which card machine you use, and in environments where grease or chemicals are present, your card machine is likely to be susceptible to getting keys clogged up or stuck.
Before you search for the best card machine deal for your small business, make sure you have the following information to hand.
Having this information at hand will give potential providers a good indication about which of their products and services will suit you and your business best, ensuring that you get the best deal.
Card machine contracts can vary in length, but to get the best deals you should be prepared to sign a 3-year contract, which is why it is important to get it right. During your contract, you can expect to pay the following fees, depending on your provider, and it is worth asking potential providers about each of these.
Please be advised these fees may vary depending on providers, and all fees quoted are subject to VAT.
If you want to switch providers before the end of your current contract, you are expected to continue to pay the fees for the duration of the contract, meaning it can be costly to terminate your contract early.
See this article for detailed information about who is involved in the card payment process, and for a better understanding of the steps involved.
Whether you’re looking to take your first ever payment or you are switching from another provider, paying upfront for your card machine can be a good way to save money, avoid lengthy contracts, and get the most reliable technology available.
Having the freedom to pause or cancel whenever you want to appeals to small or seasonal businesses. We’re experts in small business payments, and typically small businesses save up to 30% on processing fees when they choose RMS.
If you are interested in exploring whether paying upfront for your card machine is a viable option for your business, we can help. And remember, RMS have years of experience helping small businesses flourish financially. Make sure to get in touch if you have any further questions.
If you feel like you could do with more guidance, be sure to reach out to a member of the RMS team who will be able to give you all the information you need.