POS System Terms Scanner

Analyze point-of-sale terms for hidden processing fees, equipment ownership traps, and early termination penalties.

Square Toast Clover Shopify POS

POS System Provisions I Check First

Your payment system can trap you with contracts and fees. Know what you're committing to.

Multi-Year Contracts

High Risk

Some POS contracts lock you in for 3-5 years. Early termination can cost thousands—sometimes the remainder of the contract.

Look for: Contract term, auto-renewal, and early termination fees.

Equipment Lease vs Own

High Risk

"Free" terminals are often leases. You might pay $50-100/month for equipment worth $500, and return it when you leave.

Look for: Lease terms, buyout options, and return requirements.

Processing Fee Variability

High Risk

Advertised rate (2.6%) may only apply to swiped cards. Keyed entry, corporate cards, and international cards cost more.

Look for: Different rates for card types, debit vs credit, and keyed entry.

Fund Holds & Reserves

High Risk

Processors can hold your funds for "risk review." Some require reserves—holding 5-10% of sales for months.

Look for: Reserve requirements, hold triggers, and release timelines.

Rate Increase Rights

Medium Risk

Most contracts allow rate increases with just 30 days notice. Your 2.6% rate today could be 3.5% next year.

Look for: "Rates subject to change" and notice period requirements.

Data Portability

Medium Risk

Customer data, transaction history, and reports may not be exportable. Switching means losing business intelligence.

Look for: Data export options and data ownership clauses.

Scan POS Terms

Paste the service agreement to identify hidden fees and lock-ins.

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