IT IS A RARE THAT IT MAKES SENSE TO LEASE A CREDIT CARD TERMINAL. IF YOU ARE DEALING WITH A REPUTABLY MERCHANT SERVICE COMPANY YOU CAN PURCHASE CREDIT CARD TERMINAL FOR WAY LESS THAN LEASING. THE LEASING COMPANY IS NOT THE REAL PROBLEM; IT IS THE MERCHANT SERVICE COMPANY THAT “SELLS” THE LEASE. WHAT MOST PEOPLE / BUSINESS OWNERS DO NOT REALIZE IS THAT THE LEASING COMPANIES ARE NOTHING MORE THAN A FINANCING COMPANY FOR THE MERCHANT SERVICE PROVIDER WHO USES THEM TO HELP PLACE TERMINALS.
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Batching, closing, or settlement for our discussion here is the same thing: the process of transferring funds from sales and credits between Acquirers and Issuers, including the final debiting of a cardholder’s account and crediting a seller’s account.
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TBMS BlogTampa Bay Merchant Services Blog. Archives
February 2024
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