top of page

Leasing Credit Card Terminals Is Never A Good Idea

Updated: May 19, 2021

In 2021, the world is moving at a rapid pace, and you want to keep up with it. With businesses adjusting to the ever-changing society, there is an increasing need for electronic payment transfers. And your business needs one to, well, stay in business!

What is the Need For a Credit Card Terminal?

If you’ve ever made a card payment at a store, then you’ve used a credit card terminal. They are also known as card readers or POS (Point Of Sale) terminals.

If you’re a merchant, then the need for a credit card terminal is pretty obvious – to accept credit or debit card payments from customers. Whether you should lease or buy a credit card terminal will depend on various factors. However, buying a credit card terminal does have more benefits than leasing.

Why Should You Never Lease Credit Card Terminals

Issues with leasing

Why would you choose to pay thrice the cost for a credit card terminal when you can buy it for a third of the lease? Yes, these lease contracts may look cost-effective at first, but at the end of your lease period, you’ll have paid way more than the cost of the terminal.

Some payment processors also lease credit card terminals for a specific period, after which the terminal needs to be returned or a new lease needs to be signed. So, you end up paying all this fee and the product isn’t even yours.

Issues with lease cancellation

If you decided to return or cancel your lease, you might still end up having to pay a hefty sum of money. Turns out you can’t get out of lease contracts that easily.

Rapidly changing technology

With new technology, payment devices also develop and change every year. To run a business efficiently, you must use the best hardware as well as software. But with the long and binding leasing contracts, you often end up suffering losses trying to keep up with the rapidly changing technology and new leases.

No Alternatives

With all the credit card terminal providers offering only leasing options, the market becomes difficult for the merchants. They have no option but to sign a lease that exploits them.


Loyent is a merchant service provider that aims to help facilitate payment accepting processes for merchants by providing a range of payment tools that they can buy or rent. Without any hidden fees or leases.

Loyent intends to be the alternative to payment processors that only provide terminals on lease. To this end, Loyent is dedicated to developing products for small businesses that make payments easier, transparent, are affordable, and help everyone make profits.

Why Should You Buy a Credit Card Terminal From Loyent?

Buy or Rent: Loyent provides you with options to buy or rent their payment tools. No expensive leases that exploit merchants.

Transparency: They have all product information listed on their website. The price offered can be checked and compared with other options easily.


As a merchant, you need to make endless financial decisions. Where and how much to invest is often one of them.

However, having good foresight will help you make the right choice between a one-time payment or four-year monthly lease payment. Arm yourself with the necessary knowledge and avoid falling prey to exorbitant and unnecessary expenses!

At Loyent, we go against hidden fees and contracts. To learn more about how we can help you grow your small business, connect with one of our payment advisors. We’re always happy to answer any questions you may have.


bottom of page