Taking card payments?

[jamiereid92]

What does everyone use, or have good experience with card reader wise?

i have just found one called Sum Up, its on offer for just £29+vat for the reader and then 1.69% per transaction.

This is cheaper than the others, but if the salon is getting busy thats a lot of money to be paying out... to take money.

Does anyone only accept cash? There are lots of cashpoints near the salon

 

[RED STAR]

Hi Jamie,
I now use izettle, after years with cardnet...and please, do not even consider them as an option!!!
I am really happy with izettle - can't give you a break down of costs by memory, but easy easy easy......Need I say more!

 

[Minkeybox]

I use SumUp & love it. The fees are very low & suit my turnover. The card reader is contactless plus chip & pin and easy to use.

My retail sales have increased thanks to having it xx

 

[JemmaBeauty]

I use SumUp and never had any problems. Very cheap and easy to use.

 

[squidgernetball]

Just do your sums. Imagine taking £1000 pm. That’s £16.90 so not too bad. It would be good to start out and gives you the option to take cards. I’m afraid I would say that taking cards is an absolute must. I find it extremely offensive that my hairdressers expect me to walk down the road to the cash machine because they’re too tight or short sighted to take cards!!!

Times that monthly total by 10 and it’s not so good. I pay £23 pm for a clover card machine (wireless and pretty funky) and pay 0.7%. It has halved my monthly charges.

If you want clients to spend, they won’t do it with cash.

Vic x

 

[tink15]

Just do your sums. Imagine taking £1000 pm. That’s £16.90 so not too bad. It would be good to start out and gives you the option to take cards. I’m afraid I would say that taking cards is an absolute must. I find it extremely offensive that my hairdressers expect me to walk down the road to the cash machine because they’re too tight or short sighted to take cards!!!

Times that monthly total by 10 and it’s not so good. I pay £23 pm for a clover card machine (wireless and pretty funky) and pay 0.7%. It has halved my monthly charges.

If you want clients to spend, they won’t do it with cash.

Vic x

This is where I’m getting confused and can’t decide which is better. Even though the % per transaction has halved your paying £23pm for the terminal so over the annual period you are paying out more with this option. I’m with world pay and have really good rates for %per transaction 0.8 or something. But then pay £21 pm for terminal. So trying to work out weather to change to sum up/i zettle?

 

[squidgernetball]

What are you putting through your books? We’re taking over £10,000 pm on card. That would be £169. I pay £23 plus around £100 in fees (not always a strict 0.7% as we also take Amex). You have to work out what’s cheapest and easiest.

Vic x

 

[hazelb]

It's all a question of maths!

There will be a point where monthly turnover means it makes sense to go with a monthly rental machine as they tend to have low transaction fees. Up to that value it may be better to use a mobile chip and pin such as sum-up or izettle.

Monthly turn over of £1000:

Sum-up: ( initial cost of card machine ), then £20 per month in fees
something like squidgernetballs system : monthly rental £23 fees, £7 monthly fees total £30pm


Monthly turn over £2000pm

sum up : £33pm
rental : £23 + £14 a total of £37pm

So cost wise a monthly terminal rental is worth it if your monthly turn over is over £2000.

Also consider, rented terminal may be more professional looking, have better back up and offer a better user interface for online tracking. But there may well be a minimum contract involved.

 

[jamiereid92]

Thank you!

Well it looks clear to me to go for a proper machine, we will (hopefully) be bringing on a lot more than £2000 a month!

 

[tink15]

Never was good at maths haha. Thank you x

 

[Smiley Heather]

Hi Jamie,
I now use izettle, after years with cardnet...and please, do not even consider them as an option!!!
I am really happy with izettle - can't give you a break down of costs by memory, but easy easy easy......Need I say more!

Just looked at izettle too and it’s 1.75% of transactions, with banked funds available within 2 days. Does that sound about right?