What determines the price of a credit card terminal?

Prices of credit card terminals greatly differ from a machine to another, based on several factors.

Of course, technological refinements are part of the answer.

Major card machine types are, from the cheapest to the most expensive:

- Simple card readers relying on additional hardware like a mobile phone to be able to process card payments,

-  Countertop, wired credit card terminals, strictly for in-shop use,

- Wireless or portable credit cart terminals, using Bluetooth or Wifi to allow a 30 to 100-metre range away from the till (less when there’s walls),

- Mobile credit card terminals, which can be used anywhere a mobile phone signal can be reached.

However, one major factor is how to get the credit card machine. UK retailers are used to renting their card machine from their business banks, which also serve as merchant account providers. Card payment machine prices are therefore lower in the short term, but merged with various credit card costs  related to all the services needed to process payments.

Combined credit card terminal prices and service package prices then depend on:

- duration of the contract,

- number of terminals rented out to the retailer,

- level of customer service and technical support,

- additional accessories and financial software included.

All of these factors taken into account, credit card terminals prices under rental plans can be as low as £5 per month and as high as £100 per month, not including transaction fees.

In the case of outright purchase, a good quality terminal on its own, without any kind of package or contract, would start at around £40.

It is highly recommended to compare as many  quotes in credit card terminals as possible to make the right choice at the right price.