Cheap to buy is not cheap to run
A card machine costs you money in two ways: the hardware, and the fees on every payment. Over a year, the fees are almost always the bigger number.
So the cheapest card machine for you is the setup with the lowest total monthly cost at your turnover, not the one with the lowest price tag.
What decides your real cost
- The rate on each payment, which can differ for debit, credit, business and international cards
- Fixed fees, such as a charge per transaction or per authorisation
- Monthly charges: rental, PCI, minimum monthly service fees
- The contract: length, notice period and exit fees
Work it out in three steps
- Take one month's statement and add up every fee.
- Divide that by your card takings for the month. That's your real rate.
- Compare that real rate between offers, never the headline rate.
The card fees calculator does steps one and two for you.
In most cases your first card machine is free with the providers I work with, so the hardware question often answers itself. The fees are where I spend my time.