We’ve all heard the saying that there’s no such thing as a free lunch, but everyone loves FREE offers. We’d like to share some of the tactics used by other companies that say they offer free terminals, but in reality the business owner gets stuck with a bad deal. Here’s how these “free” programs work:
Merchant signs a contract for the “free” credit card machine… Wait a minute you need to sign a contract for something that’s free? Here’s why it’s not free at all and what you’ll find in the small print:
- Annual equipment fee
- Maintenance and reprogram fees
- Long term contracts with hefty termination fees and penalties
- Locked terminals, so they’re worthless to anyone except your current provider
As always be skeptical whenever you hear FREE and don’t fall for a gimmick with hidden fees and additional contracts with lots of fine print. At Leap Payments we want you to own your equipment so you’re in control, not your processor. No fine print, no terminal contracts. When you can purchase a new state of the art machine for only $199, is it really worth signing a contract with hidden fees, terms and conditions for so called “free” equipment?
