To buy or rent a card machine? Which option is best?

Learn more about buying and renting card machines for a small business in South Africa.


Should you buy or rent a card machine in South Africa?

Before launching your small business, you need to get everything in place, including a card machine if you need to accept customer payments in-person. Then, a decision needs to be made, whether to rent or buy one. There could be reasons to choose either option for your business.

It could be best to know all of the facts about each option. Next, know your business needs. Then, make the best choice and go with what works best for your business.

Do you want to know more? We spoke to Natalie, the hair salon owner, for her thoughts.

Read about Natalie's experience with card machines.

Do you rent or buy card machines for your business?

“Now, I find the idea of owning a card machine and not having monthly rental costs very appealing. I'm going to buy a card machine soon.

"Which is better? Renting or buying? It depends on your situation. Compare both options carefully before making your choice.

“I currently use a rental card machine. My first card machine had a power cord. Then, I got a wireless card machine. I just went with what my business bank offered me.

"I didn't even consider other credit card machine companies at the time. It was easy just to chat with my business bank then.

"I should have done more research. It was more convenient to just go with what my bank offered at the time."

Natalie's experience with card machines might give you some things to think about. Do you still have questions? Keep reading to find out more.

Learn more about buying and renting card machines

Let's highlight some general information about renting and buying card machines.

So, getting unique product-specific information from each company that offers card machines to rent or buy before you decide which is best for your business is important.

Buying a card machine 

  • You need to have the cash to buy the machine before using it. For example, you would need R699 to buy a Yoco Go card machine. But, you’ve paid for it, and it’s yours to do with what you want. After this once-off expense, there should be no more worries about other monthly costs.

  • In most cases, you will also pay a percentage for each transaction you process with your purchased card machine.

  • There might be more flexibility. There could be no agreement with the card machine company. So you might be able to cancel and switch to another provider whenever you like. Make sure you find out first. You might want to quickly change to a new service provider when they give you an introductory rate or a special offer.

  • Do research, read customer reviews and the service providers' reputations, and pick what is best for your business. Ask questions. How long does it take for your customer payments to be in your bank account? Will your transaction fees decrease the more you get paid?

Renting a card machine 

  • You don’t need cash upfront to buy a card machine, only the monthly rental cost. So, you could keep paying, but you could never own the device if you choose to rent a card machine.

  • Depending on the terms and conditions of the rental agreement, you may have to replace the card machine should you damage it, or they could replace it for you. But, if you damage your rental card machine and they don’t replace it for you, that means you could have bought one in the first place.

  • You will most likely pay the card machine provider a percentage on each transaction you make with the card machine that you use.

  • What about possible quiet months? Even if you don't use it, paying the exact monthly rental cost to have a card machine could not be ideal. This could apply to you if, for example, your business operates in a seasonal industry.

  • Your rental agreement could lock you in for a certain period.

  • Do your homework before you finalise your decision. Compare reputable companies, reviews, products and deals. Feel free to ask questions.

Yoco card machines

Yoco offers a wide range of affordable card machines for your small business in South Africa. So, depending on your business needs, you could choose a card machine that works best for your business.

Pay no monthly fees with us. Accept card payments online and use other convenient online payment solutions. Also, experience the benefits of free invoicing, tracking sales performance and more with the Yoco app or use the Yoco Portal for free and other services.

Do you want to know more about Yoco's card machines? Contact us today if you need any advice on Yoco's card machines. Find out why 250 000 small businesses in South Africa choose Yoco to get paid and help them grow.

Whatever you choose, to buy or rent. Choose the best card machine deal that works for your business long-term to help your business reach new heights. 

Source: Should you Rent or buy a card machine?

Yoco Card Machines and Online Payments

Quiz Question 1

Want to sell in person, online or both?

In person