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Card terminal transaction costs

The cost of your payment terminal does not end when you purchase or rent it. There will also be transaction and other costs. Time spent comparing offers based on a combination of upfront costs and transaction fees over a period will be time well spent.

card terminal cost

Card terminal transaction fees explained

Transaction fees are a fixed percentage of each payment you take with your card terminal. Major card associations such as American Express, Visa and Mastercard will often determine the amount of fees you are likely to incur with each card terminal transaction, whilst your credit card processer (merchant service provider) will then determine your total costs based on their perception of your risk level. These factors can change the prices of a credit card terminal and must be taken into account when considering the overall cost of your Chip & PIN machine.


Card terminal providers

Your card terminal provider will consider your company’s credit history, the type of transactions you process, and the charge amount. Most card processing companies offer two rates: one for transactions where the card is not present, such as Internet purchases, and another for face-to-face transactions.                                      

Be careful: some card machine suppliers include other charges as well. You may face a non-refundable application fee, which could exceed £150, whilst others may charge activation or set-up fees. This is where you need to be at your most vigilant! Make sure all charges and costs are listed clearly in your contract. In the end you may decide that higher transaction fees are a worthwhile cost of doing business with a reputable card terminal provider.

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