It can be difficult to know what questions to ask when choosing a card terminal for your business. Here are twenty good ones to get you started.

Equipment

1. How does accepting cards fit with how I trade?

Consider your location. If you’re out and about, reception and coverage may be something to bear in mind. Consider your setup. If you pass the card reader to a customer across a counter or between the seats of a car like a taxi driver to a passenger, portability, robustness, physical or Bluetooth connectivity, and receipt printing may be important considerations for you.

2. Which sales channels can I accept card payment through (e.g. face-to-face and/or on a website and/or over the phone)?

3. Is the terminal and/or card reader compatible with my current mobile phone, tablet or other equipment?

4. What is included in the bundle (card reader, printer, reader clip or mount, etc.)?

5. Are the parts available separately?

6. Should I buy, rent or lease the terminal or equipment?

Consider upfront costs, arrangements for repairing or replacing equipment, and how easy it is to upgrade hardware.

Cash flow

7. How long does it take to start accepting payments by card?

8. How many days will pass between a customer making a purchase and the funds reaching my account?

9. How often will funds be credited to my account (e.g. daily, weekly, monthly)?

Fees

10. What are the typical fees for card processing?

11. What is included/excluded from these fees?

12. What other fees, charges or taxes do I need to consider to establish the full costs of accepting cards?

Consider fees for refunds, chargebacks (when the customer disputes the payment, or it is fraudulent), internet, telephone or mail order sales when you are not face to face with your customer.

13. How many card payments am I expecting to take in an average week or month?

Support

14. What training support is available for my staff and I?

15. What support is available for queries about terminal malfunctions, repairs, upgrades or disputed payments?

16. What signage, marketing materials or tips can the bank or payment provider supply to let customers know that I accept cards?

17. What case studies around accepting cards are available for businesses like mine?

18. What apps are available to connect accepting cards with other aspects of my business (e.g. inventory and stock management, accounting and reconciliation, staff rotas)?

Partner

19. How well do I know the bank or payment provider I am thinking of doing business with, and how important is this to me?

20. Do I deal directly with this company or through a third party?