Alway Read Your Payment Processing Agreement BEFORE You Sign It

You've been approached by sales people to get a payment terminal for your business. Do you know exactly what you are getting into? Nine things you need to know ... about the agreement for your payment processing service and terminals:

Shop around: Understand exactly what each company is offering. The more you know, the more you can negotiate. Compare price, guarantee or warranty, duration of contract and any other terms or conditions that are important to you.
 
Know who you’re dealing with: Reputation is important, so ask your business friends for references.

Negotiate: Most contracts can be negotiated. Use the information you gathered while shopping around to get the best service and price. If the company or individual wants your business, they will listen to your arguments. Don’t feel pressured to sign immediately—this is your decision to make!
 
Read the contract and pay attention to the details: Don’t rely on verbal promises; make sure any agreements or claims made by the salesperson are written into the contract.

Understand everything in the contract: Ask the salesperson questions and get advice from someone knowledgeable if there are elements you don’t understand. And don’t forget the fine print; it is part of the contract too! If you feel you need to, have a lawyer review the contract.
 
Know who to call for help or to lodge a complaint: Ask the salesperson for a customer service phone number and the steps to take if you need to make a complaint. For payment processing, there is a Canadian Government's Code of Conduct. Know your rights.G
 
Know how to get out of it
Usually, a short period of time is allowed to cancel a contract without penalty; it’s called the “cooling off period” and it should be described in the contract. Even if it isn’t, you could still have a cooling off period, so check with the Consumer Protection Act of your province or territory. Otherwise, to cancel a contract before it is over, both parties have to agree and most of the time, it will cost you!
 
Sleep on it: Is this what you really need and want?Take a day or two to think over the offer and the impacts of your decision. It’s OK to change your mind before signing or agreeing to a contract.
 
Once it’s signed, get a copy and keep it: You may need it later on for reference, or to launch a complaint if you have a problem.

It is always a great idea to get a second opinion on your payment acceptance tools. Contact vCash POS for a review and choose the best in terms of reliablity, cost and customer service.