Northern Leasing Systems I'm writing on behalf of a small shop owner who was told by a merchant services company that they could save him thousands per year in fees. The Merch Svcs co. uses Northern Leasing for equipment & n New York, New York
As mentioned, the owner of this small neighborhood grocery store contacted me as I had stopped in to discuss his credit card processing services just a few days after he had already switched to a small company I had never heard of. Not knowing anything about them, I simply gave the owner my card and asked him to call me if for some reason things didn't work out.
Yesterday (maybe 9 weeks later), he called after receiving his first statement and quickly realized he was paying much, much more than he had been before, primarily do to Northern Leasing Equipment's $70/month, 48-month NON-CANCELABLE lease. The card terminal he rented from this company is a very well know, very standard machine that runs about $500 brand new (with a 1-year warranty).
This client - who is not nearly in the same league as a Giant or Safeway (processes less than $10,000 per month) is now paying 1% of his monthly credit card sales toward the lease of his termina.
I have worked in several merchant services companies and NONE of them would even allow me the ability to lease a terminal that high -- as an FYI, business owners, nearly all merchant services companies have a minimum amount they can charge and a maximum amount....Northern Leasing Equipment is about $30/month MORE than I possibly could charge for the same machine (and nearly $40/mo. more than I usually DO charge).
I can't speak for the whole company, but to be safe, if you see them coming, put on your Nike's and RUN! Worst deal I've EVER seen and, to make matters worse, there's virtually no way the owner can break the lease. AWFUL company.