The Plus Side - No Contract - No need to rent a terminal - Cheap to buy (avg cost £50 - £90) or Free in some cases
The Downside - Card Reader Fees Per Transaction are very high – usually a minimum 1.6& - 2.75% on ALL transactions
+ an additional extra cross-border fee for foreign cards 0.4 - 1.5%
If your customers require receipts as most do, you will need to either send your customer a receipt via email, or text (after asking them for their tel number) or you will need to purchase a separate portable card reader printer.
On some Non - Contactless Devices you need to have an APP set up on your Android Mobile Phone as it needs to be connected to the device for each and every transaction (Very Time Consuming when you have customers in front of you)
Other Fees you need to be aware of - 3.40% + 20p for magnetic stripe swipe payments or manual input of card details.
Support? - Should you need a replacement Terminal in 24 hrs in the event of a malfunction, you won’t get one
We operate a full 24/7 Customer Service
You will find that cheap card reader companies Do Not offer this to customers
On some versions of Card Readers the lower the transactions the higher the Rates will be.
Limits? – You may find that you have daily transaction amount limits on most Card Readers
You often have to create a holding account where your money will be stored until you withdraw
Funds can take up to 3 - 10 days to be transferred back into your Business Account with ALL Card reader Suppliers.
No Receipts for your customers?
You are unable to print receipts unless you purchase an additional printer at around £300 + Vat... stiill reading?