Accepting Laser/Credit Cards

Tim M-U

Hi,
This is what I need:

• To accept Laser Cards
• To accept Maestro, Visa, Mastercard etc..
• Needs to be chip and pin and no need for moto
• Cheapest

I need a chip and pin solution because moto could be problems with processing etc.. If I get a terminal online would this be of use?There wouldn't be much transactions via card but is nice to offer it, to save the customer running down to the 'hole in the wall'!

Could anyone recommend a company of what price range?
thanks a mil!

Our man in Havana

Ulster bank. €17 a month + vat terminal rental. It needs to be online via a phoneline.

Commission:
Laser/Maestro/Visa Debit: 25 cent per transaction regardless of value.
Credit cards: 2.5% of the transaction value.

Tim M-U

Haddockman wrote: »

Ulster bank. €17 a month + vat terminal rental. It needs to be online via a phoneline.

Commission:
Laser/Maestro/Visa Debit: 25 cent per transaction regardless of value.
Credit cards: 2.5% of the transaction value.

thanks for your reply.
Have you used ulsterbank? Are they any good?

Our man in Havana

They are very good.

Bandara

Haddockman wrote: »

Ulster bank. €17 a month + vat terminal rental. It needs to be online via a phoneline.

Commission:
Laser/Maestro/Visa Debit: 25 cent per transaction regardless of value.
Credit cards: 2.5% of the transaction value.

They are INSANELY high rates :eek:

Laser/Debit should be no more (at the very most) 18c per transaction, I pay 15c currently and am pushing to have it reduced.

Credit Cards I pay a 1.10% blended* rate. 2.5% is completely and utterly mental.




* Blended is the key here, most merchants will tell you you have say 1.25 - 1.45% rate (this is about the normal it seems), but this just covers certain types of cards, they will add on an extra 1% for 'premium' cards such as business cards or platinum/gold cards etc. Also any foreign based cards they will also add on 1%.

By getting a blended rate you only pay the agreed rate no matter what type or origin of card you process. So a blended 1.25% = 1.25% full stop. No nasty surprises.

hope that makes sense.

Our man in Havana

I could not get anything less than those rates because I was not putting enough through the terminal.

suey71

Hammertime wrote: »

They are INSANELY high rates :eek:

Laser/Debit should be no more (at the very most) 18c per transaction, I pay 15c currently and am pushing to have it reduced.

Credit Cards I pay a 1.10% blended* rate. 2.5% is completely and utterly mental.




* Blended is the key here, most merchants will tell you you have say 1.25 - 1.45% rate (this is about the normal it seems), but this just covers certain types of cards, they will add on an extra 1% for 'premium' cards such as business cards or platinum/gold cards etc. Also any foreign based cards they will also add on 1%.

By getting a blended rate you only pay the agreed rate no matter what type or origin of card you process. So a blended 1.25% = 1.25% full stop. No nasty surprises.

hope that makes sense.

Hi Hammertime,

What about if you are applying for an IMA, surely you cant be too pushy then. Just accept what your offered and then haggle later.

If you haven't any track record surely you cant ask for low %. or can you?

What rate would a start up online business hope to get?

Thanks.

Tim M-U

They are very good.

Thanks Haddockman for your reply!

They are INSANELY high rates

Laser/Debit should be no more (at the very most) 18c per transaction, I pay 15c currently and am pushing to have it reduced.

Credit Cards I pay a 1.10% blended* rate. 2.5% is completely and utterly mental.




* Blended is the key here, most merchants will tell you you have say 1.25 - 1.45% rate (this is about the normal it seems), but this just covers certain types of cards, they will add on an extra 1% for 'premium' cards such as business cards or platinum/gold cards etc. Also any foreign based cards they will also add on 1%.

By getting a blended rate you only pay the agreed rate no matter what type or origin of card you process. So a blended 1.25% = 1.25% full stop. No nasty surprises.

hope that makes sense.

I have no problem to rattle the bank to give a better deal!
The idea is to stop the customers having to go down to the hole in the wall for money and to offer cash back to save on lodgement fee's! The amount of customers who ask to pay by debit card everyday is unbelievable. They never show a credit card. I like the idea of blended..:D

I have a terminal which has a RJ45 and telephone socket so I don't have to pay for rentals.

Hi Hammertime : Who are you with? Are they good?

Our man in Havana

I think the problem for startup businesses they start you on the 25c/2.5% rates. I was with AIB before UB and they were the exact same. Until you show them your throughput they will be reluctant to budge. If you can get them down then very good and fair play to you.

Having your own terminal is unlikely to be any use really. They supply the terminals and I doubt they would allow a 3rd party terminal.

Tim M-U

Haddockman wrote: »

I think the problem for startup businesses they start you on the 25c/2.5% rates. I was with AIB before UB and they were the exact same. Until you show them your throughput they will be reluctant to budge. If you can get them down then very good and fair play to you.

Having your own terminal is unlikely to be any use really. They supply the terminals and I doubt they would allow a 3rd party terminal.

The actual business is an established one! The terminal was from ulsterbank originally (I think) and was given to me by a friend, Ulster Bank say they have no problem with their customers using third-party terminals, however the customer will have to set it up himself, with the information provided by the bank!:pac: I heard Ulster Bank give the best value, I'll rattle them to give me a good price!:rolleyes:

TheCostumeShop.ie: Ronan

First start off at www.Webpayments.ie - great informational site with all the info you need.

You need a merchant account and a payment processor. Merchants are Elavon and Ulster bank, both have good reputations (avoid AIB merchants like the plague). For card processors I prefer Worldnet TPS as their service is excellent, also very good are realex and sagepay.

Tim M-U

TheCostumeShop.ie (Ronan) wrote: »

First start off at www.Webpayments.ie - great informational site with all the info you need.

You need a merchant account and a payment processor. Merchants are Elavon and Ulster bank, both have good reputations (avoid AIB merchants like the plague). For card processors I prefer Worldnet TPS as their service is excellent, also very good are realex and sagepay.

First of all, thanks Ronan for telling me about these services!
I found webpayments.ie very helpful for beginners and came across sagepay and realex too, I don't need an internet merchant account, just a normal merchant account that accepts laser/maestro/visa debit! I think Worldnet offer only online services, I need to accept cards by Chip and Pin to avoid chargebacks etc.

Who would you recommend to me for a usual merchant account?

Tim M-U

@Haddockman Do Ulster Bank charge for setup fee if I set it up myself?:)

Tim M-U

I got this for the minimum charge from WorldPay MOTO:
Application Costs:
Set-up Fee: €145.00
Monthly Fee: €20 each month (first month payable upon application).

Transaction Service Charges:
3.5% on the value of all credit and charge cards transactions
€0.80 per transaction for Laser Debit card.
€0.10 per transaction for Fraud detection.
Standard Administration Fee per Chargeback: €17.50

Ulster Bank must be cheaper! :rolleyes:

Our man in Havana

Avoid worldpay. Just ask UB.

Tim M-U

Haddockman wrote: »

Avoid worldpay. Just ask UB.

Will do, I have contacted them and they will get back to me. I wanted to see which is the best and your opinions before I choose where to go.:D

Thanks everyone, if anyone has any opinions on companys and who your with, it would be appreciated..