If you’re considering switching over to a new credit card processor, one thing that you’ll definitely want to ask is whether or not they will be able to support your credit card processing equipment type. It’s great if they can save you a couple of dollars on your rates, but if it’s going to cost you a few hundred dollars to get a new type of equipment. To get around this, some processors will offer certain clients a free terminal to use for the life of the contract, but there are instances where that won’t help.


Maybe you use a point of sale system. You’ll want to make sure that your processor will be able to support it. It’s safe to say that you’ve invested a lot of money in it, both in the equipment itself as well as the time spent training your employees how to use it, so it would be really tragic if your processor could not integrate with it. Sometimes, there is a third-party plugin that can be installed, but that usually costs you money to purchase it.

If you think that you can save some money on your processing, by all means you should explore that possibility, but definitely keep in mind that all processors do not necessarily support your type of equipment. It may not be worth the time, energy and cost that may be involved in switching your particular type of equipment. Plus, if you get a lower quote from a new processor, it’s possible that your current processor would be willing to match it, or at least show you some fees that you didn’t notice in the contracts. Or they may be able to explain to you why a particular offer isn’t better than their current rate structure.

We’ve written a lot of posts about the significance of certain line items in your credit card processing rate structure. For example, your transaction fee compared to your discount rate. Certain businesses benefit more from a reduction in transaction fee compared to the discount rate, and some businesses have it the other way around. Check out some of my posts on that topic to learn more, because you may find that a quote you get from a new processor is not as enticing as it sounds.