The first of our tips for saving money on credit card processing is to never lease a terminal. Not only can you buy one yourself for less money than you would spend over the life of a lease but owning your own terminal makes it easier for you to switch processors at any point.

You can purchase a terminal from Staples for about $100 to $400. Many card processors advertise free card terminals. Just make sure that you are getting a well-known, non-proprietary brand which fulfills your business needs. Ultimately you want to pick the credit card processor which will give you the best overall rates not just a free terminal. A good deal on processing could save you thousands in fees over the long run compared to just a few hundred in savings for a terminal.