Leasing is an option for businesses that need new fintech equipment like a POS system but can’t afford an upfront purchase. Leasing, or renting a POS system, allows you to make lower monthly payments over a multi-year period and avoid a big lump sum payment. Equipment leasing is different from equipment financing, however. With financing, you take out a business loan to purchase the equipment with the equipment as collateral. After completing all loan payments, you’ll own the equipment outright. With leasing, you do not own the equipment when the lease ends. However, buying the equipment may be an option at the end of the lease. The purchase cost may factor in the equipment’s appreciation and the amount paid during the lease. Both a business loan and leasing will likely include interest and fees that are lumped into the monthly payment. Extra fees for insurance, maintenance and repairs may be included in the lease.