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Small businesses accepting credit cards

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  • 14-03-2012 8:29pm
    #1
    YouBuyLocal
    Registered Users Posts: 293 ✭✭


    Are there any small businesses accepting credit cards that can advice me on all of the costs involved?

    Credit card companies seem to charge 26c per transaction + a % - or so I was told by a small business owner the other day.

    If accepting online via realex what does the credit card company charge on top of the realex charge? Realex say they don't charge for first 350 transactions, just a flat 29euro fee, then 12c per transaction after they reach 350.

    How does this compare to accepting credit cards through normal routes? I heard the credit card readers cost 3500 euro, or is that a deposit in case they get damaged/stolen?

    I know the difference between web merchant accounts and normal merchant accounts and the different circumstances in which they are accepted, so no need to get into that.

    Does the bank charge much of a fee to get a web merchant account, or is it just a one off administrative fee?


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  • Options
    #2
    YouBuyLocal
    Registered Users Posts: 293 ✭✭YouBuyLocal


    I am just wondering if it is cheaper to accept credit cards online or face to face.

    Like if I am a small sandwiche shop and I sell a cup of tea for 1euro by credit card, then the processor takes 26c (I think, so I was told), but if I am with realex then the first 350 transactions are free, so does that mean I get the whole euro?

    Then take the merchant acc fees, I was told they can be from 30-50euro per month, and then the processor like Realex or Sagepay charge 20-30euro on top?

    So include your internet connection/wifi and whats that less than 100euro per month?

    Where are the other costs? Does the merchant provider (Elavon) take a transaction fee or only a flat fee?


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