Posts Tagged ‘credit card terminal’

How to plug a pin pad into a Verifone VX510 credit card terminal

Tuesday, May 17th, 2011

Before you plug the pin pad in to the Verifone VX510 make sure that the power is unplugged.  If you do not unplug the terminal you risk blowing out the encryption on the pin pad.  You will then have to send it back to your merchant card service processor to have it re-encrypted.  This can take up to a month – so – make sure you unplug the terminal!

When you look at the bottom of the terminal you will see the power port and 3 other ports.  The pin pad plugs into the port on the far left of the terminal (see picture below for reference)  Plug it in securely and power the terminal back up!

If the pin pad is not working you may have the following issues:

- The pin pad is either not encrypted or is not encrypted for your credit card processor.

-Your credit card terminal is not programmed to have pin debit entry as an option.  Have your independent sales representative call in to support to add pin debit to the file and re-download the eVx510.

-You merchant card services account is not set up to accept pin debit.  Have your sales rep get an addendum to add pin debit card processing.

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Why you should not lease a credit card terminal….

Wednesday, June 18th, 2008

Businesses often look at leasing as a viable alternative to purchasing high priced equipment. After all, not many small businesses can foot the bill for a $15,000 color copier. But would you lease a $200 cell phone or a $300 cash register? Of course not! So why do some businesses lease $150-$300 credit card terminals?

Most credit card terminal leases involve a 48 month term, and at least $20 a month. That totals $960 in payments! You could have received this terminal with only a small deposit using our free terminal program!

The Games Lease Providers Play:

Most merchants are given inflated costs to make them more inclined to lease. For instance, some companies will say a terminal, which costs $299, costs $600. With no frame of reference, many new customers will simply assume this is accurate, but may not have the cash or credit for that amount.

Also, some companies claim tax advantages to leasing. This is simply false. It is true that lease payments are deductible, but any business purchase is deductible. Would you rather deduct an expense or have the cash in your pocket?

That’s not the only bad news. Here are a few more facts about leasing credit card terminals…

Credit Card Machine Leasing Contracts are Binding.
Regardless of your circumstances, you cannot terminate the lease before the term ends.
You Have to Return the Equipment.
After you spend your $960, you then have to return the terminal
Leasing Has Costly Strings Attached
Terminal leasing companies sometimes continue to charge monthly fees beyond the contract term unless you contact them to cancel.
Equipment insurance is required for all leases, adding to monthly fees.

Don’t get stuck in a long-term leasing contract while paying far more than necessary to process credit cards. Save money and avoid the hassles of leasing—contact one of our independent sales representatives to learn more about our free equipment program..

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