The costs of taking card payments

Product Information 12 October 2018

How a small outlay can help your business reap big rewards.

There’s overwhelming evidence to show how accepting card payments can boost business, quicken queues and generally make your life easier.

 

But what about the costs of taking card payments? These include renting a card machine, transaction fees, and optional extras like a Payment Gateway or automatic till-roll replacement.

 

Here, we’ll take a detailed look at the costs involved when you decide to accept card payments – and some of the costs we may be able to help you with.

 

We’ll pay your set-up fee

Some card payment companies charge a set-up fee, sometimes as much as £100. We don’t. We’re here to support those running their own business, so we’ll waive the set-up fee to help get you off to a successful start.

 

Card machine rental

Typically, businesses rent card machines for set periods. This amount you’ll pay varies on the kind of machine you need, how many you need and your EPOS system. We offer three kinds of card machine: countertop, portable and mobile. The only difference between them is portability – so deciding which is best for you will be dictated by the kind of business you have. One advantage of renting a card machine is that it will come with the very latest technology and security features.

 

Payment Gateway services

A card machine isn’t the only way your business can start taking card payments. Our Payment Gateway can open up new opportunities for customers to pay via your website, by phone and even by email. We offer three Payment Gateway packages starting from £8.30 a month. For further details, click here.

 

Transaction costs

Transaction fees are usually a small percentage of the value of each card transaction and help cover processing costs. They include qualifying and non-qualifying rates along with authorisation fees. The precise cost you’ll pay will depend on your business’s turnover.

 

PCI management fee

Every business taking card payments must comply with industry-wide security measures called PCI DSS (Payment Card Industry Data Security Standard). It ensures customers’ data is protected. For a small, monthly fee, we can look after this for you, and also help you avoid fines for not meeting regulatory standards.

 

Optional services

We have a range of optional services that allow you to create the perfect package for your business. They’re all designed to save you time, money and hassle. They include:

 

Plus. Our extensive customer rewards programme offers discounts and deals on all kinds of products and services for both business and leisure time.

 

Performance Reports. This reporting tool makes keeping track of your card transactions easy. Better still: it’s free for the first three months of your contract.

 

Till roll replacement. This simple service ensures you’ll never worry about running out of till roll. We’ll automatically send you a fresh one when your card machine signals that it’s running low.

 

PCI Phone Validation. This phone-based, one-to-one consultancy service is the fastest way to ensure you meet PCI compliance.

 

Receive up to £3,000 to switch from your current payment provider

If you’re looking to switch from a payments provider you’re unhappy with, we could help out by contributing up to £3,000 to help you with severance costs. Get an online quote now to see if you’re eligible.

 

Call today for a personalised quote

We’ve covered some of the regular charges you can expect to pay when accepting card payments.

However, every business is different, so for an accurate quote please complete our online form. We’ll be happy to learn about your business needs and give you a personal quote to ensure that accepting card payments is rewarding for you.

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