There aren’t any actually free card readers for rising companies. Whichever method you slice it, you’re going to pay extra in transaction charges, gadget rental, or different ongoing expenses for the privilege of taking funds.
However when you concentrate on the complexity of the worldwide funds system, the tech required to maintain you and your clients secure from cybercriminals, and the velocity and seamlessness of processing, it’s a small worth to pay to do enterprise.
That stated, with the appropriate setup, it’s potential to restrict your card fee prices — significantly should you perceive how pricing constructions have an effect on your prices as your turnover will increase.
Beneath, we take a look at gadget and transaction charge pricing fashions, easy methods to get the most effective deal for what you are promoting, and among the finest worth card readers on the market.
How do card reader prices work?
Month-to-month charges are widespread, however they’re not common. Many suppliers promote card readers outright after which cost transaction charges on a pay-as-you-go foundation, with no ongoing subscription. Others cost a month-to-month charge, both to hire the machine, or on high of the acquisition value of the gadget in alternate for advantages like decrease charges and enhanced assist.
The trade-off is simple: greater mounted prices in alternate for decreased per-transaction charges and further companies.
For instance, a month-to-month subscription that appears costly at first look can work out cheaper than a no-monthly-fee choice when you’re processing the next quantity of transactions. The secret’s considering when it comes to long-term value, not simply upfront spend.Beneath, we take a look at the primary pricing fashions out there — from flat charges to bespoke pricing — and the way pay-as-you-go compares with subscription-based plans.
Right here’s a breakdown of pay-as-you-go vs pay month-to-month fashions.
No long-term contracts or exit charges
Flat-rate transaction charges make prices easy to forecast
Transaction charges are sometimes greater than on subscription plans
Prices can rise rapidly as fee volumes enhance
Subscription pricingAccess to decrease or tailor-made transaction charges, which may considerably cut back prices at greater volumes
Added advantages resembling sooner terminal substitute, precedence assist or enhanced options
Month-to-month charges apply no matter gross sales efficiency
Transaction charges might be variable and more durable to check
Contracts usually run for 12–18 months, with exit charges for early cancellation
Extra expenses might apply for setup, upkeep or optionally available add-ons
Greatest worth card readers for rising companies
For rising companies, worth isn’t simply concerning the lowest headline fee or least expensive gadget – it’s about flexibility, and significantly the flexibility to entry higher pricing as volumes enhance.
In case your turnover is rising or predictable, tailor-made pricing and decrease per-transaction charges can ship significant financial savings over time. If income remains to be uneven or seasonal, flat charges and pay-as-you-go pricing might supply higher value management.
Sq.
Machine value: £19
Month-to-month charge: None
Transaction charges: From 1.75% (in-person UK card funds)
With no subscription charge and flat transaction charges ranging from 1.75% for in-person funds, Sq. is a good choice for companies that need predictable pricing to handle regular, secure development. When you begin processing £200,000 yearly, you may entry customized charges to gasoline the subsequent stage of development.
You possibly can settle for funds utilizing Faucet to Pay on iPhone or Android with no gadget value, or use the Sq. Reader — a compact terminal priced at £19. Funds often settle the subsequent working day, with on the spot payouts out there for a small charge. Security measures, fraud prevention and dispute dealing with are in-built.
Worldpay
Machine value: N/A (terminal rental)
Month-to-month charge: From £15 to £22.50
Transaction charges: Customized or 1.50%, relying on tariff
Worldpay provides rental card readers on an 18-month settlement, with next-day substitute included as customary.
There are two predominant pricing choices. In case you course of greater than £75,000 in card funds yearly, you may entry Customized pricing, which provides variable transaction charges and free next-day settlement – all for a month-to-month terminal rent charge of £15.
For companies that desire predictability, the Simplicity tariff bundles prices right into a single, fee of 1.50% and prices £22.50 monthly. There are not any minimal month-to-month service expenses, authorisation charges or premium transaction charges, which makes forecasting simpler as volumes develop.
Worldpay additionally provides absolutely tailor-made pricing for bigger or extra complicated operations, permitting you to form charges and charges round your anticipated turnover and operational necessities.
Tide
Machine value: From £0 to £159
Month-to-month charge: From £0 to £24.99
Transaction charges: From 0.69% + 5p (home client debit playing cards)
Tide provides probably the most versatile card fee setups in the marketplace, making it simple to discover a resolution that fits your gross sales quantity.
For rising companies processing greater than £2,200 in home card funds, the Promote In-Particular person plan is the best choice. You may as well select between pay-as-you-go pricing, renting a tool, or shopping for one outright – and switch your smartphone right into a card reader utilizing Faucet to Pay.
Funds sometimes clear in a single to 3 working days, with next-day payouts out there for £2.99 + VAT monthly. Tide additionally runs frequent promotions, together with short-term fee-free intervals and cashback incentives to offset gadget prices.
takepayments
Machine value: Customized
Month-to-month charge: Customized
Transaction charges: Customized
Moderately than publishing mounted costs, takepayments builds bespoke packages primarily based in your anticipated turnover, most well-liked {hardware} and assist necessities.
After an preliminary enquiry, you’ll converse with a funds specialist who constructions your pricing that will help you unlock the most effective charges and keep away from paying for pointless options. Contracts sometimes run for 12 months, and next-day settlement is customary.
The supplier additionally stands out for customer support, holding a 5-star Trustpilot ranking from greater than 63,000 critiques, with many purchasers highlighting its hands-on assist and account administration.
Dojo Go
Machine value: £79 upfront or from £15 monthly
Month-to-month charge: £0 to £39.99
Transaction charges: Included as much as £3,999 monthly, then 1% (or customized pricing)
Dojo is a good choice for scaling companies. You possibly can settle for funds utilizing Faucet to Pay, or go for Dojo’s terminal, which integrates with EPOS methods and consists of complete reporting and reconciliation instruments. Settlement is subsequent day by default, together with weekends and financial institution holidays.
Pricing is structured round turnover tiers. Companies processing below £100,000 yearly pay £39.99 monthly, which covers transaction charges as much as £3,999; something above that’s charged at 1%. There’s additionally a tailor-made pricing plan, and for these exceeding £1m in annual turnover, a completely bespoke package deal.
SumUp
Machine value: From £25 + VAT
Month-to-month charge: £0 to £19
Transaction charges: 1.69%, or 0.99% with Funds Plus
SumUp combines an easy charge mannequin with optionally available subscription pricing for greater volumes.
You possibly can settle for funds utilizing Faucet to Pay on iPhone and Android with no upfront value, or buy a SumUp reader. In-person funds are charged at a flat fee of 1.69% with no month-to-month charge. For companies processing greater than £3,000 monthly, the Funds Plus subscription reduces transaction charges to 0.99% and consists of 24/7 precedence assist and free card reader replacements.
The SumUp app supplies entry to enterprise insights and primary reporting instruments at no further value, and settlements are processed as early as 7am the subsequent day — together with weekends and public holidays.
Tyl by NatWest
Machine value: From £13.99 + VAT
Month-to-month charge: None
Transaction charges: From 1.39% to 1.99% + 5p (greater for American Specific)
Tyl by NatWest is NatWest’s in-person funds arm, providing a mixture of rented card machines and Faucet to Pay with clear pricing. Settlement is the next-working-day, and also you get entry to a web-based portal for reporting and account administration, and UK-based assist.
You possibly can select from a number of PAX card machines out there for hire — together with moveable and countertop choices — with costs ranging from £13.99 + VAT monthly, relying on the mannequin. Contracts sometimes run for 12 months, and as soon as authorised, gadgets are often delivered inside 48 hours.
Transaction charges depend upon annual card turnover. In case you course of as much as £50,000 per 12 months, Tyl provides two clear charges: 1.39% + 5p per transaction for UK and European private debit or bank cards, and 1.99% + 5p for all different playing cards, resembling enterprise or worldwide playing cards. In case you take over £50,000 yearly, pricing is customised primarily based on card combine, quantity and fee channels. American Specific is priced individually and varies by trade, however might be included as a part of your quote.
Barclaycard
Machine value: From £29 + VAT
Month-to-month charge: From £18 + VAT
Transaction charge: Customised
Barclaycard provides two predominant card reader choices, together with cellular, on-the-go gadgets and a extra full-functioned moveable terminal. Each choices include customised pricing, next-working-day settlement and 24/7 assist.
Moderately than publishing mounted transaction charges, Barclaycard tailors pricing to what you are promoting profile, turnover and card combine.
Smartpay Wherever is Barclaycard’s most versatile card reader, geared toward cellular and multi-location companies. There’s a one-off charge of £29, no contract and no cancellation charge.
Barclaycard’s moveable card reader is designed for companies that want a extra conventional terminal with wider performance. The month-to-month rental is £18 + VAT and also you’re tied into an 18-month contract.
