Saving Money on
Merchant Services & Credit Card Machines

Processing credit cards, or merchant services, is something we all grumble about but in today's world, people rarely carry cash or write checks. As a business owner, accepting credit cards has become a necessity. We know how tight the budget can be, especially in the beginning. Here are a few ways to make paying for merchant services less painful...

 Buy your machine...don't lease it. Leasing can sound like a good option but not if you have all the facts. A machine that only costs you $42 a month, when attached to the standard 4 year lease, ends up costing $2016. That is a lot of money!

 Comparison shop...you don't have to buy a machine from the same company that processes your cards.  They may tell you that you have to use their machines but you don't. Find out what type of machine the company requires and shop around. Some processing companies may offer you a good price but some may not. Just like anything else, it is always a good idea to educate yourself and comparison shop.

 Review your account...you should talk to your merchant service provider every year and have them review your account to see if you are eligible for a better rate. The merchant services companies that we have spoken with, say that on average merchants change their processing company every 2 1/2 years. They don't want to lose your business, so make that phone call. As with all expenses, shop them. It is all about educating yourself.

 Take debit...any purchase over $40 should be run as a debit, if possible. It's all about percentages. A $100 purchase costs approximately $1.60 as a credit card but as a debit would only cost about 25-45 cents. It doesn't sound like much until you total the charges for the week, the month, or the year.  Those pennies add up!

At Portland Store Fixtures, we have been providing credit card machines for merchants for years. We have refurbished and new machines available that are often well below merchant services prices. We don't offer the processing, we just have the equipment. Also, you don't need the top of the line machine; those bells and whistles are spendy. Your merchant service will often give you a few model numbers to choose from. As with most electronics these days, newer versions are quickly available but that doesn't mean that the older version won't work just fine.

Remember, a smart business person makes money because they are careful about how they spend it.