What Do I Do With My Old POS Terminal?

Very few things on this planet last forever and chief among them are electronics. You are probably aware of Moore’s Law which tells us that the number of transistors on a microchip double every two  years while the cost of a computer is halved in that time. That means that the equipment that we use is not the best on the market for very long. Add in that electronics have a finite lifespan and that means that you will be upgrading your technology at some point. That includes your POS terminal too. So, when it comes time to do that, what should you do with your old terminal?

You might have upgraded your POS terminal for many reasons. Maybe you finally upgraded to a new EMV chip terminal. Maybe your old one finally broke down. Or maybe you just wanted to speed up the amount of time it took to complete a transaction. Since you upgraded you now have a spare terminal sitting around that you don’t know what to do with and you don’t want to keep it around since it will just take up space.

Resell It

There are a few options that you have with your old POS terminal, and your first option is to sell it. Your POS terminal may be just what someone starting out is looking for and there are some companies that specialize in buying and selling used POS systems. If this is a route that you want to follow there are some things that you need to keep in mind. Your customer’s data, employee data and product database may be stored in the system and that is not something that you want to share with someone else. Your terminal may also be locked, in which case it will not work with anyone else.

You will need to know how to remove the data from the system and that should be included in the instruction manual. This may not be something that you are comfortable with and if that is the case, you might be better off just destroying the terminal or recycling it. The money that you get from reselling the POS terminal will not really be all that much anyway.

Donate It

It is also possible to donate your old POS terminal. A number of charities allow you to donate unwanted electronic equipment and you can write off the value of your donation come tax time. These devices can wind up in the hands of a new business owner and could be just what is needed to get started and get off the ground. Just like with above though you will need to delete your records off of the terminal before doing so.

Not only do you get the tax benefit but if there is any issue with the POS terminal the charity will take the return and not you. You also will not need to refund the buyer. 

Recycle It

Your last option is to recycle your old POS terminal. Many localities have strict laws when it comes to electronic recycling so just putting it in the trash will not work. Regulations differ from locality to locality so there is no one size fits all answer as to what to do. Local e-recycling information should be found on local government websites so that will be a good place to start. 

While you are at it, you might have some other old electronics just taking up space that you could get rid of too. This could be a good excuse for you to do just that, which of course you have been meaning to do for awhile. That old computer back in your storeroom that is running Windows 95 should have been recycled long ago.

If you are upgrading through JLE Business Consultants we can help you determine which course is best for you. Reselling is not always the best option.