Harness the platform that powers your business
Owning a business can be demanding--from tracking inventory and supervising employees to taking orders and everything in between! That's why we’ve teamed up with Clover from Fiserv, a leading global provider of payments and financial technology solutions. Clover helps simplify your operations with a payment processing system and business management solution tailored to meet the unique needs of restaurants, retailers and service businesses.
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FAQs
Leasing is an option for businesses that need new fintech equipment like a POS system but can’t afford an upfront purchase. Leasing, or renting a POS system, allows you to make lower monthly payments over a multi-year period and avoid a big lump sum payment. Equipment leasing is different from equipment financing, however. With financing, you take out a business loan to purchase the equipment with the equipment as collateral. After completing all loan payments, you’ll own the equipment outright.
With leasing, you do not own the equipment when the lease ends. However, buying the equipment may be an option at the end of the lease. The purchase cost may factor in the equipment’s appreciation and the amount paid during the lease.
Both a business loan and leasing will likely include interest and fees that are lumped into the monthly payment. Extra fees for insurance, maintenance and repairs may be included in the lease.
With leasing, you do not own the equipment when the lease ends. However, buying the equipment may be an option at the end of the lease. The purchase cost may factor in the equipment’s appreciation and the amount paid during the lease.
Both a business loan and leasing will likely include interest and fees that are lumped into the monthly payment. Extra fees for insurance, maintenance and repairs may be included in the lease.
Heartland charges fees for:
- Interchange processing costs as they move through the credit card authorization network. These fees may show up on your statement as:
- Discount fee: This fee is what Heartland charges to a merchant for passthrough payment processing services to debit and credit card companies.
- Transaction fee: This fee is for the attempt at running a transaction for passthrough payment processing services to debit and credit card companies.
- Monthly vs. daily discount cost: Card brands bill and settle payment processors daily — this can be a big task for some small businesses. Heartland charges a minimal fee to settle monthly instead.
Your total processing costs will vary based on many factors unique to your business. But at Heartland — and in general — you can expect your processing fees to include:
- Interchange fees (that go to the credit card brands and card issuers — usually the bulk of what you pay)
- Merchant service fees (for the ability to access the authorization network necessary for processing transactions and for value-added services like PCI compliance assistance, EMV capabilities, etc.)
Interchange fees are the base cost of accepting credit card transactions. Interchange fees are set by the credit card brands who determine the fee amount merchants pay to cover the cost of moving a payment transaction through various stages of the authorization network and from one account to another. There are other costs associated with payment processing that can vary by provider. But interchange is a set rate that varies by card type and acceptance method, but does not vary by provider.