Card Reader Contract Checklist
Review pricing, contract, settlement, equipment, support and security terms before signing.
Use this checklist before accepting a card-reader or merchant-services agreement.
Pricing evidence
Obtain the full rate schedule and identify percentage, per-transaction, minimum, rental, gateway, PCI, statement, refund and chargeback charges. Record whether rates vary by channel or card category.
Term and exit
Confirm the minimum term, renewal mechanism, notice window, early-termination calculation and equipment-return requirements. Put calendar reminders against notice dates.
Settlement and reserves
Record normal settlement timing, weekend treatment and circumstances in which funds can be held or a reserve imposed. Cash-flow impact belongs beside headline price.
Equipment and support
Identify who owns the device, replacement times, connectivity requirements, software support and the response available during a trading outage.
Security responsibilities
Clarify PCI responsibilities, access controls, updates and incident contacts. A provider service does not remove the merchant's obligation to operate equipment and accounts safely.
Final comparison
Run the same quiet, normal and busy inputs through each option and retain the signed agreement with the comparison. Seek appropriate advice where liability, personal guarantees or unusual terms are material.