Credit card machine

Random2016

Hi
Small business been crippled with credit card machine fees and line rental. Currently with World pay and phone with eir.

Any recommendations for cheaper credit card machine or phone ?
Thanks

silver2020

how are they crippled? - anyone business person with an iota of sense negotiates fees and there are dozens of companies out there.

I pay €15 per machine and 0.18% for debit cards and 0.38% - 0.55% for credit cards. I hate cash as the bank charges me 0.45% for lodging cash and I have to count it and bring it to the bank.

My turnover is only about €2m, so I would not be considered a large operator

DaveJoyce

Random2016 wrote: »

Hi
Small business been crippled with credit card machine fees and line rental. Currently with World pay and phone with eir.

Any recommendations for cheaper credit card machine or phone ?
Thanks

Hey



If you only have the phone line for the credit card machine, then you could get onto Worldpay and see if they can do a SIM machine. But the most important thing to be ready to do is move.


There are 100s of providers out there, even your bank will give you a machine, but if you are been crippled by the fee then maybe there is another problem.



Are your margins too low? Is there a lot of charge backs? Are people using you like a bank and getting a lot of Cash Back?


Some more information would be helpful



Regards
Dave

GerardKeating

DaveJoyce wrote: »

If you only have the phone line for the credit card machine, then you could get onto Worldpay and see if they can do a SIM machine. But the most important thing to be ready to do is move.

Most new/modern card machine work over broadband, which is another option to get ride of a dedicated line..

Random2016

May bill is 277euro with World pay for cards and machine rental. No cash back just sales.

silver2020

Random2016 wrote: »

May bill is 277euro with World pay for cards and machine rental. No cash back just sales.

If your monthly turnover on cards is €1m, that's very good, if your monthly turnover is €50,000, that's expensive.

You don't seem to have a good grasp of it. I'd suggest you get an accountant to look at it.

Machines operate on broadband or gsm. Unless you don't have broadband or decent signal, they don't use physical phone lines

Processing fees are usually commission based, so higher turnover = higher fees and without know turnover no-one can say whether you have a good deal or not.

DaveJoyce

Random2016 wrote: »

May bill is 277euro with World pay for cards and machine rental. No cash back just sales.

Silver2020 is right depending on turnover that is either good or bad. But in fairness if your turnover was 1m a month you wouldn't be on here complaining that the fees are crippling.


Since WorldPay do a monthly fee and a pay as you would I would probably say you are on the pay was you go. Switching to the monthly fee will absolutely save you money


Silver2020 is right having a chat with your accountant would help, also talking to your bank as they could probably offer you a cheaper monthly fee then that


You could also reach out to some consultants

Random2016

Thank you all for your comments. Was going through some personal issues last few years and yes I let my business suffer. Thanks again