New Business Owners: Which Payment Terminal Do You Really Need?

Don’t start with a device name—start with your first twelve months. Where will you be selling, how many transactions do you expect, what are the typical transaction amounts, and will you be working alone or with employees? The answers to these questions will determine whether a simple mobile solution is sufficient or if a stationary point-of-sale setup offers more value.

One fixed location or on the go?

For a store or studio with a single counter, a fixed terminal is a good choice. A mobile terminal is ideal for markets, deliveries, and on-site services. SoftPOS may be a good option if you already have a compatible smartphone and primarily use contactless payments.

Test the connection in the actual work environment and determine whether a printer or POS integration is needed.

See how a payment terminal and point-of-sale system that are right for your small business can fit into your daily operations.

Make a realistic volume estimate

Use opening days, expected customer counts, and average purchase amounts to establish a range. Compare a slow, normal, and busy scenario. This will show you how fixed and variable costs behave.

Don't let yourself be swayed solely by a temporary introductory rate. Check what the rates will be after the promotional period ends.

Think one step ahead

Do you want to add an online store, an employee, a second retail location, or a point-of-sale system within a year? If so, choose a provider and system architecture that officially supports those additions. A small cost savings at the start can end up being expensive if you have to start all over again.

Don't sign a long-term contract for features you don't need yet, but don't rule out future integration either.

Be sure to check out our solutions for small and medium-sized businesses and retailers as your company continues to grow.

What should be included in the quote?

• Device and Type of Ownership or Lease
• Fixed monthly and service fees
• Rates by relevant payment method
• Connectivity and SIM Card
• Payments and Reporting
• Installation, Support, and Replacement
• Contract Term and Cancellation Terms

Are you unsure whether to buy or rent? Be sure to read our comparison of buying versus renting a payment terminal.

Electronic payments are mandatory for consumers

If you work with consumers, you must offer at least one electronic payment method. In principle, cash is also still accepted, and you may not impose a surcharge or minimum amount for electronic payments.

Choose a solution that not only meets legal requirements but also aligns with your clients' expectations and pace.

Making the right choice starts with how you operate

Above all, a startup needs a transparent foundation without any surprises. Choose a model that’s small enough to remain manageable and smart enough to avoid having to start over when the business first starts to grow.