Merchant charges

galwayguy2005

Just wondering if im over paying with my card charges. Im paying 35cent for every visa debit transaction and 2.5 % on visa & mastercard transactions, Im doing between 15-20k turn over a month

Peterdalkey

Do you mean 2.5% ?

galwayguy2005

Peterdalkey wrote: »

Do you mean 2.5% ?

Yes sorry

Nuttzz

by way of a guide we've Elavon as a merchant the charge is 1.9% for credit cards and 35 cent for Visa & Mastercard debit cards

sandin

wow - that's expensive.

I'm 18c for visa debit, 1.25% for credit cards and 0.25% extra for corporate cards. Using AIB.

Whilst turnover is substantially higher, you should be able to get nearer my levels. 1.5% absolute max. if what you should be apying.

Peterdalkey

sandin wrote: »

wow - that's expensive.

I'm 18c for visa debit, 1.25% for credit cards and 0.25% extra for corporate cards. Using AIB.

Whilst turnover is substantially higher, you should be able to get nearer my levels. 1.5% absolute max. if what you should be apying.

Very competive rates there Sandin ( Quelle Surpise!!) Are these rates for in-store only or are you surcharged for online transactions or cardholder not present?

Bandara

My charges (with Streamline -UB)

Ihaveanopinion

Any experience with Sumup? They quote a flat fee of 1.95% but their card reader only registers MasterCard currently! visa is coming in march I think

Graham

Ihaveanopinion wrote: »

Any experience with Sumup? They quote a flat fee of 1.95% but their card reader only registers MasterCard currently! visa is coming in march I think

MasterCard is always 'coming soon' with Sumup, I'll take a look at them again if 'soon' ever arrives.

goz83

Graham wrote: »

MasterCard is always 'coming soon' with Sumup, I'll take a look at them again if 'soon' ever arrives.

Looks like soon already arrived.

http://support.sumup.com/customer/en_gb/portal/articles/1212302-cards-you-can-accept

Graham

goz83 wrote: »

Looks like soon already arrived.

http://support.sumup.com/customer/en_gb/portal/articles/1212302-cards-you-can-accept

But is the customer still redirected to a web page to complete the transaction, that was always the killer.

I might have got the cards the wrong way around but the result is the same, only 1 type of card works with the reader.

goz83

Graham wrote: »

But is the customer still redirected to a web page to complete the transaction, that was always the killer.

I might have got the cards the wrong way around but the result is the same, only 1 type of card works with the reader.

I don't know if there is a redirection. I have set up an account. As there is no monthly fee and I am getting the card reader for free, I don't mind. I use Elavon as it is, with a mobile terminal. I don't see sum up replacing this, but it might compliment it somehow.

Graham

I'd be really interested in your thoughts once you've had a chance to try it out in real life goz83, particularly about the process for cards that aren't accepted by the reader.

jimmii

I use syspay which works via an app much the same as sumup. It works really well and its really handy being able to process payments via a mobile connection when out and about. I looked at sumup but at the time you had to have the swipe thing sticking out the top of the phone which I didn't think looked the best! I have a tiny chip & pin device the battery only lasts about 2 hours but other than that its excellent and so far their service has been superb. It doesn't accept laser but its not a problem we come across often even people wanting to pay by laser have an alternative.

sandin

Peterdalkey wrote: »

Very competive rates there Sandin ( Quelle Surpise!!) Are these rates for in-store only or are you surcharged for online transactions or cardholder not present?

in-store and online - we've long record and only 5 chargebacks in 13 years. 30% of card turnover is online.

Peterdalkey

sandin wrote: »

in-store and online - we've long record and only 5 chargebacks in 13 years. 30% of card turnover is online.

Have used the data here for benchmarking price negotiations with new suppliers, Streamline are sticking to their grossly overpriced guns. Most useful to have real numbers to bat with! We will get a nice result!

Thanks

Peter

HairMare

Hi there
Can anyone give me a rough idea on cost of installing setting up a chip/pin and what you need in place phone/WiFi etc. Complete novice 1 week from opening !

goz83

HairMare wrote: »

Hi there
Can anyone give me a rough idea on cost of installing setting up a chip/pin and what you need in place phone/WiFi etc. Complete novice 1 week from opening !

As mentioned, I use Elavon. Rental of the chip and pin terminal (which is GPRS and can be used anywhere without wifi) and cost of running a maybe €2000 per month through the terminal costs around €50. which is not at all bad. It's about 25c per transaction. I don't run much through the machine.

HairMare

goz83 wrote: »

As mentioned, I use Elavon. Rental of the chip and pin terminal (which is GPRS and can be used anywhere without wifi) and cost of running a maybe €2000 per month through the terminal costs around €50. which is not at all bad. It's about 25c per transaction. I don't run much through the machine.

Thanks for that, really silly question how do I recoup money and how long does it take?

jimmii

HairMare wrote: »

Hi there
Can anyone give me a rough idea on cost of installing setting up a chip/pin and what you need in place phone/WiFi etc. Complete novice 1 week from opening !

System I use you need a data connection via wifi or cellcular but its a lot cheaper to set up monthly its €15 but if you sign up for a couple of years I think its €9.99 probably better if you are a smaller outfit my monthly CC fees only comes to around €150-€200 as most of what we do is <€20 so people tend to pay by cash more. 1 week from opening is cutting it pretty close.

jimmii

HairMare wrote: »

Thanks for that, really silly question how do I recoup money and how long does it take?

The money gets deposited in your bank account how long varies the company I use is 3 working days which I think is pretty good.

goz83

HairMare wrote: »

Thanks for that, really silly question how do I recoup money and how long does it take?

As mentioned by another poster, it goes into your bank account. If you use elavon, its quicker to be with bank of ireland and payment is usually a couple of days only. I like the flexibility if having the gprs terminal, because I can bring it anywhere. I notice most businesses are using the same terminal i have, with the exception of large retail units that usually have the terminal connected to a till. Elavon use a Vodafone simcard in the machine. Its covered in the rental fee.

jimmii

Its via Elavon for us too so AIB takes a day longer in case that is a factor for you!

Kersh

jimmii wrote: »

System I use you need a data connection via wifi or cellcular but its a lot cheaper to set up monthly its €15 but if you sign up for a couple of years I think its €9.99 probably better if you are a smaller outfit my monthly CC fees only comes to around €150-€200 as most of what we do is <€20 so people tend to pay by cash more. 1 week from opening is cutting it pretty close.

Who do you use if you dont mind me asking

goz83

Nifty little attachment. At present, the reader will only accept Master Card. However, in March, they will be (according to customer care) launching a new reader that will take MC and Visa. That's good news, but it's not really necessary for my set up, as I still have Elavon.

Now for the best bit. You can sent a text message charge to anyone with a smart phone and they can then pay you by clicking on the link and securely entering their card details. Brilliant!

This would also work if you text a charge to your own smart phone and then let the customer enter their details onto it and make the payment that way. Handy if they only have Visa. I tested both methods using my MC and my Visa debit and both worked successfully. Now I will wait to see how long it takes to go through. I may even request a faster processing time, pointing out that I only wait a couple of days with Elavon.

Graham

goz83 wrote: »

You can sent a text message charge to anyone with a smart phone and they can then pay you by clicking on the link and securely entering their card details.

That's the part that I always disliked about sumup. An in-person transaction goes something like this for a visa card holder:

Merchant tots-up customers bill
Merchant takes customers mobile number
Merchant creates invoice/bill
Merchant sends text message link for payment page to customer
Customer receives text message, clicks on link, opens browser
Customer submits credit card transaction online.
Merchant receives notification of payment.

That entire convoluted process is just horrible from a usability perspective. Worse again, it is totally reliant on something out of the merchants control. The customer has to have a smartphone and an active data plan.

Sum-up have actually managed to combine all of the worst parts of cardholder present and cardholder not present transactions into a single product.

goz83

Graham wrote: »

That's the part that I always disliked about sumup. An in-person transaction goes something like this for a visa card holder:

Merchant tots-up customers bill
Merchant takes customers mobile number
Merchant creates invoice/bill
Merchant sends text message link for payment page to customer
Customer receives text message, clicks on link, opens browser
Customer submits credit card transaction online.
Merchant receives notification of payment.

That entire convoluted process is just horrible from a usability perspective. Worse again, it is totally reliant on something out of the merchants control. The customer has to have a smartphone and an active data plan.

Sum-up have actually managed to combine all of the worst parts of cardholder present and cardholder not present transactions into a single product.

That's a little too much of "the glass is half empty" view. In the not too distant past, most people didn't have anything but a bank card. Now nearly everyone has a credit card, or Visa debit card. In the not too distant past, mobile phones didn't exist. Now almost everyone has a smart phone and data plans come as part of top ups these days. Wi-fi is also available in every nook and cranny around the place, so instant payment isn't necessary, so long as the client eventually connects to the link you send. All this assumes the customer is not present at the business.

Now, here's how I would work it if I used sumup exclusively for my business.

Merchant tots up bill.
Merchant sends money request to their own smart phone with data plan/wifi.
Merchant asks customer to enter their visa details after hitting link.
Merchant receives payment and receipt may be sent to customer email if desired.

Of course chip and pin is better, but i really like the the fact that customers can pay you with a link, even if they are not present. It certainly beats them paying over the phone, as its more secure.

Graham

goz83 wrote: »

In the not too distant past, most people didn't have anything but a bank card. Now nearly everyone has a credit card, or Visa debit card. In the not too distant past, mobile phones didn't exist.

Thanks for the quick history lesson not sure it's entirely relevant though.

goz83 wrote: »

Now almost everyone has a smart phone and data plans come as part of top ups these days. Wi-fi is also available in every nook and cranny around the place, so instant payment isn't necessary, so long as the client eventually connects to the link you send. All this assumes the customer is not present at the business.

Believe it or not there is still a substantial proportion of the population that don't have a smartphone and even if they do WiFi isn't available 'nearly everywhere' and a data plan or allowance is far from a foregone conclusion.

Why would you assume the customer is not present? I can find no reference anywhere to CNP transactions on the Sumup website. Reading the Sumup Terms and conditions however I do find this:

5.2. You shall not accept any Transactions where the payment card does not contain all of the elements that are typical for that type of card, where the payment card appears to be manipulated or damaged or where the payment card has expired.

How will you meet that obligation with a CNP transaction?

goz83 wrote: »

Now, here's how I would work it if I used sumup exclusively for my business.

Merchant tots up bill.
Merchant sends money request to their own smart phone with data plan/wifi.
Merchant asks customer to enter their visa details after hitting link.
Merchant receives payment and receipt may be sent to customer email if desired.

All the references to Mobile Payments on the Sumup website specify "your customer’s mobile phone number", how will that work when sumup realise you share a phone number with every one of your customers?


I'm not anti sum-up, I think they have potential if they can sort out the Visa issue. Unfortunately that's always a few months away. Search this forum from Feb/March this year and you will read that the Visa issue will be sorted in 2 or 3 months. On the plus side, SumUp are now highlighting the Visa thing better than they used to and if I recall they have reduced their rates.

For now I can still only see SumUp being a solution for someone that wants to occasionally process cardholder present credit card payments. For that purpose it is one of a very limited number of cost effective solutions.

goz83

Graham wrote: »

Thanks for the quick history lesson not sure it's entirely relevant though.



Believe it or not there is still a substantial proportion of the population that don't have a smartphone and even if they do WiFi isn't available 'nearly everywhere' and a data plan or allowance is far from a foregone conclusion.

Why would you assume the customer is not present? I can find no reference anywhere to CNP transactions on the Sumup website. Reading the Sumup Terms and conditions however I do find this:

5.2. You shall not accept any Transactions where the payment card does not contain all of the elements that are typical for that type of card, where the payment card appears to be manipulated or damaged or where the payment card has expired.

How will you meet that obligation with a CNP transaction?



All the references to Mobile Payments on the Sumup website specify "your customer’s mobile phone number", how will that work when sumup realise you share a phone number with every one of your customers?


I'm not anti sum-up, I think they have potential if they can sort out the Visa issue. Unfortunately that's always a few months away. Search this forum from Feb/March this year and you will read that the Visa issue will be sorted in 2 or 3 months. On the plus side, SumUp are now highlighting the Visa thing better than they used to and if I recall they have reduced their rates.

For now I can still only see SumUp being a solution for someone that wants to occasionally process cardholder present credit card payments. For that purpose it is one of a very limited number of cost effective solutions.

My history lesson was to show how quickly tech changes and is taken up by people.

I don't see where you're coming from with term 5.2. If I am in Dublin and I want to charge a client in advance for a product or service purchased, I can send the request link if they have a smart phone and internet access. (I know not a single person who doesn't own a smart phone, but i accept that not everyone owns one). They enter their payment info an then i get paid. The customer is not physically at my business, but payment is processed. This would meet the requirements of the card as I understand them to be. My line about assuming the customer is not present, should now also be clear to you.

I will double check this, but I don't think it is necessary to use the customers mobile number at all. What is important, is that the customer enters their info and receives a receipt, which can be emailed to them. Its not ideal, but it's great that it can be done.

I'm with you on the visa issue, but the cc rep specified March. When they say 2-3-6 months, i know its BS. When they give a month, i have a bit of faith.

I love that they have no monthly fees, but yeah, there needs to be a few changes made.