Ingenico iCT220 Users Manual

We have about 20 retail locations with credit card terminals. Typically, I have always bought the terminals because leasing is such a crazy bad deal. For example, Transfirst will lease you (via their partner First Data Global Leasing, or FDGL) a Hypercom 4220 for about $32 a month on a 48-month lease. That is about $1536 in payments total. Right now you can buy the same Hypercom 4220 invthis lease for about $179.

But despite this, I actually found myself talked into leasing a few of these Hypercom 4220 terminals. I was told by Transfirst (the merchant company) that a technology transformation was coming (this was true) and that the advantage of leasing was that if the terminals become obsolete, they will be upgraded automatically (this turned out to be a lie).

Note that this was stupid, stupid, stupid on my part. I admit it. I could have still bought them and have been better off after 6 months, even if it became obsolete, than leasing. Mea culpa. My only excuse is that I had developed a lot of trust in my old processor Solveras and didn't realize how much their customer service would change for the worse when they got bought by Transfirst.

However, the really irritating part occurred when I got an email from Transfirst saying that my Hypercom 4220's would essentially be obsolete after October, 2015 because these terminals can't handle the new chip cards (technically I could still use them, but at a serious liability risk, which is not acceptable). So I called Transfirst and asked them what was going to happen on my equipment they leased me that they now have told me is obsolete. They said that I could upgrade the Hypercom's on my lease to Ingenico ICT220's for a $189 fee.