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just thought I would throw this out there as some of the other threads on the subject seem to be a bit out of date...
would anyone have advice on obtaining a merchant terminal for credit/laser card transactions?
we are opening a small cafe. ideally, given the lower average spend, we would prefer to avoid having this costly facility but we reckon we need it to make it easier for our customers (but will specify a minimum spend).
however, we were a bit startled by the costs associated with getting one. just wondering if anyone has any advice about how to get competitive quotes? even trying to identify any service providers outside the main banks is proving difficult...the best quote we have obtained is:
€99 set up
€19/month fixed fee plus:
1.32% credit cards
17c laser
21c visa debit
I got a similar deal from Ulster Bank Merchant Services 5 years ago, but without the setup charge. I think those figures are ok.
I wouldnt bother with the minimum spend. On a fiver spend the 21c on the Visa debit represents 4.2% . if your cafe can't afford that on a sale, it's not worth the hassle at all. While I understand the possibility of people coming in and spending €2 and using a card, it won't happen often enough for it to be an issue.
Demanding a minimum spend just pisses customers off. I did it to prevent sales like phone credit with cash back where the profit on the sale was wiped out; and while it reduces the number of "ATM sales" it certainly doesn't endear you to genuine customers.
Who's offering this? Many users of the forum would appreciate knowing.
just thought I would throw this out there as some of the other threads on the subject seem to be a bit out of date...
would anyone have advice on obtaining a merchant terminal for credit/laser card transactions?
we are opening a small cafe. ideally, given the lower average spend, we would prefer to avoid having this costly facility but we reckon we need it to make it easier for our customers (but will specify a minimum spend).
however, we were a bit startled by the costs associated with getting one. just wondering if anyone has any advice about how to get competitive quotes? even trying to identify any service providers outside the main banks is proving difficult...the best quote we have obtained is:
€99 set up
€19/month fixed fee plus:
1.32% credit cards
17c laser
21c visa debit
any information greatly appreciated!
thanks
I'm not that up to speed on small turnover volumes but that does look okay.
One that should become very relevant before the year is out is sub €15 visa debit transactions. With the visa push for contactless payments coming in, you should be able to get a reduced rate for that, sub 10c I'd say. Laser will be finished by the end of the year so long term it's visa debit costs you need to consider.
I signed up for card terminal last year, got quotes of both aibms and elavon. Elavon were initally much cheaper, but lots of charges in the small print, ie extra .5% to 1% if someone uses a company credit card, PCI compliance fees etc .
Quoting elavon fees back to aibms they very quickly reduced their charges to match
ended up with 100 set up.( started at 175)
1.20 on visa (started at 2.2)
20 laser
30 debit
terminal rental 22 plus vat( 1 year contract), had a fight not to be saddled with the 4 year contract and ended up paying more for the 1 year
