Mobile chip & pin plus Merchant account

Retro23

Hi I want to start and take credit and debit card but it needs to be totally mobile and cost effective. I know this has been covered before and I have searched the forums with nothing specific coming up.

I have looked into chipandpinsolutions.com and have heard that the FSB provide a good solution but both tend to be a little costly to set up and run.

Is it possible to buy your own terminal perhaps second hand in order to keep the cost down?

I know I need a merchant account also and again have been told the FSB can help here.

Thanks in advance for any help or advice anyone can offer.

Steve

kimbatty

I have a mobile chip and pin system which I got through my business bankers Barclays. I rent the terminal from Vodafone but they set that all up for me along with the merchant account. The merchant costs about £25.00 per month and I can't remember the cost of renting the mobile unit but it's not too horrendous. You then also pay transaction charges but that differs depending on your expected volume of transactions when you set up the account

trevor_john

KIMBATTY.Spot on !! My reply bwas to be the same as yours.I use mine for my business (tv aerials & satellite) and put 4/5 jobs a day thru my mobile terminal = approx £400 and the costs are 30p per transaction debit cards and 1.9%credit.I find that the monthly fees are approx £75 and te4rminal rental £103 per quarter.There are no more trips to bank and it arrives in my account as cleared funds on the 3rd day.

windswept

I use Adelante's system, all you need is a mobile phone, you can either text the payment through , or the better option is the javapos application, but it only works on some phones.
The adelante site has a list of suitable ones.
It cost £160 to set up, through the nmtf, free set up- merchant account with lloyds cardnet, and you get a virtual teminal for taking cnp payments over the phone. It costs £5 a month in fees plus your merchant rate and 30p. my merchant rate is 2.2%. And if you only take a few payments, the 30p fees come out of the £5, I have yet to pay adelante more than the £5. the money comes through really quickly from lloyds and it is a really good service.
I tend to use the virtual terminal more than the mobile system, but it is a handy option to have. For the money it can't be beaten, especially as it's £35 a month for terminal rental alone.

kimbatty

windswept wrote: »

I use Adelante's system, all you need is a mobile phone, you can either text the payment through , or the better option is the javapos application, but it only works on some phones.
The adelante site has a list of suitable ones.
It cost £160 to set up, through the nmtf, free set up- merchant account with lloyds cardnet, and you get a virtual teminal for taking cnp payments over the phone. It costs £5 a month in fees plus your merchant rate and 30p. my merchant rate is 2.2%. And if you only take a few payments, the 30p fees come out of the £5, I have yet to pay adelante more than the £5. the money comes through really quickly from lloyds and it is a really good service.
I tend to use the virtual terminal more than the mobile system, but it is a handy option to have. For the money it can't be beaten, especially as it's £35 a month for terminal rental alone.

That sounds like a very good alternative system. I've been thinking of changing from my current mobile solution as I had heard there were cheaper options so I'm going to look into this one now. I set up the Barclays one when I was out and about doing lots of shows and events but I tend to just sell over the internet now so it's not needed as much at all

Thanks for the info