Card Payments

BB15 · 12 November 2018 at 2:16PM

Does anyone have a rough idea of how much it costs to take card payments through a terminal for my business. I currently don't provide this. Thanks.

fishybusiness · 12 November 2018 at 4:22PM

Depends who you go with, plenty of people on here use the free readers and are charged a commission per transaction.

We use Lloyds Cardnet and have a mobile terminal. Monthly costs are split in to terminal rental, about £28 per month and processing fees, fixed at about £15 per month.

Probably seems like a large outlay, it works for us, older clients know the look and feel of the terminal, everyone has confidence in using it, and it just works for us.

We did survey our clients before choosing and quite a few didn't want to use the free ones, I guess it depends on your trading sector and location.

BB15 · 14 November 2018 at 12:06PM

Really useful answer so thank you Fishey.

bris · 14 November 2018 at 1:27PM

Base it on the amount of transactions you believe you will get.

The free PAYG ones typically charge 3.75% per transaction whether it's a credit card or a debit.

The proper merchants charge a monthly rental plus between 1% and 3% for credit cards and a fixed fee of around 25p for debit cards.

The bigger the turnover the better the rate.

westy22 · 14 November 2018 at 2:04PM

I pay 1.4% of transaction value plus 0.20p per transaction - all credit / debit cards including Amex. This is using Stripe.

BB15 · 16 November 2018 at 12:46PM

Thanks bris and westy. Only a small biz so I will check out the cheaper options.

Jo_F · 17 November 2018 at 9:04PM

I have an iZettle one, it takes most cards and does contactless. You pay for the reader and then a small amount per transaction. No monthly fees and they pay into your bank pretty quick (I can take a payment Saturday and it hits my bank Tuesday)

Percy1983 · 20 November 2018 at 12:45PM

I use a Sumup card machine, no monthly fee and 1.69% on transactions.

Great for lower transaction levels, if you have high volume a monthly fee + lower transaction rates are better.

baldelectrician · 26 November 2018 at 3:09AM

I use Worldpay and have used them for a while

I take a fair bit on card and they are competitive.

I nearly went to RMS and cancelled that because they could not email me the contract (kept getting my email address wrong) despite me emailing them.
I read up on them afterwards and it seemed like a lucky escape.

Honeybee99 · 12 December 2018 at 7:17PM

Hi, I had exactly the same question, I am a really small business and am only ever going to have a really small turnover but need to be able to take card payments both online and face to face. I’ve found it really hard to get a proper comparison and it’s extra difficult to find the banks information on the web . All help and advice welcome!

rhysadams · 18 December 2018 at 11:34AM

Depends on the amount of transaction you do. For high amounts, its a great ide to sign up for the FSB and then go to Worldpay. We pay £9.99 per month for a terminal then about 0.9% for most cards. Amex is separate through the same machine and this is 1.9%

Stripe is great for one of our mail order firms, no monthly and 1.4% and 20 per transaction.

Then for low volume face to face we use the SumUp card reader. 1.69% of the transaction

Card Payments

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