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Physical Credit Card Terminals - Running Costs?

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  • 30-11-2016 9:24pm
    #1
    ironclaw
    Registered Users Posts: 8,004 ✭✭✭


    Hi Folks,

    I'm looking for basic, back of the envelope calculations for the use of a physical chip and pin terminal. I appreciate it varies by provider but trying to come up with a approximate figure either as a rough percentage of sale or a standing amount.

    Thanks!


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    #2
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    It depends more on your turnover. You could be looking anywhere from .25% to as high as 2.5%. Unless your turnover is quite high you're better off going with the non-traditional suppliers that don't charge a monthly rate in addition.


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    #3
    ironclaw
    Registered Users Posts: 8,004 ✭✭✭ironclaw


    jimmii wrote: »
    It depends more on your turnover. You could be looking anywhere from .25% to as high as 2.5%. Unless your turnover is quite high you're better off going with the non-traditional suppliers that don't charge a monthly rate in addition.

    Thanks jimmii.

    Can I ask, ballpark, what is the monthly rate?


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    #4
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    ironclaw wrote: »
    Thanks jimmii.

    Can I ask, ballpark, what is the monthly rate?

    Around €20—€25/month. Last quote I got was £17/month and .25% for debit and .75% for credit. Not so long ago there was a thread where people were postings quotes they had got and the turnover it was for.


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    #5
    StupidLikeAFox
    Registered Users Posts: 7,711 ✭✭✭StupidLikeAFox


    ironclaw wrote: »
    Hi Folks,

    I'm looking for basic, back of the envelope calculations for the use of a physical chip and pin terminal. I appreciate it varies by provider but trying to come up with a approximate figure either as a rough percentage of sale or a standing amount.

    Thanks!

    Don't have exact figures, however when we started out we opted for Mobile Merchant from Elavon. €150 one off set up cost and a pay as you go % per transaction after that. This machine works through an app on your phone which is good because its mobile, can be used anywhere, but bad because it takes longer at the till and the pad itself is a bit cheap looking - like a big calculator

    As we got busier we had more data to work with, after looking at a few places we eventually went with BOI Payment Acceptance (they no longer work with Elavon) which charges a set fee (€30 per month maybe) and much lower %. This is your standard machine which you see everywhere, it has contactless too if that is useful to you. We were going to go with AIB MS but just as we were about to sign up there were all sorts of extra fees added on so we pulled out.

    Obviously the first option is cheaper if you are doing lower volume, but there is a revenue point where the second option will begin to get cheaper


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