Cheapest and easiest way to take card payments?

thunderb0lt

Hello

I am looking to take over a small restaurant business. I would like to know what is the cheapeast and easiest way to get a counter terminal machine to take card payments from customers.

I have done some online searching and read that it can be quite tricky to get a merchant account. Also, the montly fees and transaction costs can be quite high.

Any advice is appreciated.

Thanks

grumbler

I think Small Biz & Charities' MoneySaving board is a better place to ask or search it.

Double_V

Have a look on PaymentSense. They offer good prices and have personally used them.

lobbslobb

I'm happy to provide information on merchant services accounts. I work as a business development manager for a large ISO.

It can be relatively easy to start taking payments as long as you have proof of bank and photo i.d. There are restrictions for high-risk businesses but not many businesses fall into these categories.

bris

It's all in the turnover of the business. The higher the turnover the cheaper the merchant services.


To get started just go with an izettle type setup and see how it goes. With this type of set up there are no on going fees but charges are higher at 2.75% for CC and debit cards.


Proper merchant services such as streamline are much cheaper with debit cards a fixed price of about 20p and CC about 1.5% but you hire the machine on a fixed term contract at about £15 pm. It still works out cheaper this way if you have a decent turnover as most people pay by card these days.