The primary distinction between inexpensive card machines and more typical payment processing businesses is that the latter will charge a monthly rental fee, a terminal hire fee of roughly £20 per month and will require a contract. Despite there being more expensive card machines, those machines may provide lower transaction fees. Previously, card machines for small businesses had to make do with a bulky Chip and PIN machine, but today they can take advantage of mobile card readers with lower transaction fees and monthly fees.Ĭard readers are getting more inexpensive, and today, a card reader may be purchased for as low as £19.Īs a small business owner, when weighing up alternatives, don’t only look at the price of the machine. Today, there is a far broader selection of machines for small businesses to choose from. The monthly fees and transaction fees of card payment machines vary greatly by model. However, if you’re processing more than £2,000 worth of card payments a month, you should probably also consider looking at more traditional machines which offer lower fees. Plus they offer very transparent pricing and among the lowest fees. Not only is it the best known, but at only £19 + VAT it’s very cheap to try out. While all of the 6 machines listed above are great and allow your small business to accept card payments, the Square card reader is probably the best choice. What is the best card reader for small businesses in the UK? You can compare these fees by clicking here. This is due to the fact they charge credit card and debit cards the same fee. However, please keep in mind that while the upfront cost for all the machines here is far lower than traditional Credit Card/PDQ Machines, the transaction fees are far higher. To to get that your best bet is going with the Dojo Go. It also offers extremely competitive card transaction fees (1.75% flat fee), but not the absolute lowest. Visit the Barclaycard Anywhere site to learn more What is the cheapest credit card machine for small businesses in the UK?Ĭurrently the cheapest credit card machines in the UK, in terms of upfront cost, is the Square reader which costs just £19 + VAT. App lets you track payments on the move and in real-time.Helps protect you against fraud with proactive security and advanced card verification services.Application normally only takes 15 minutes.Transaction Fees: 1.60% for debit and credit cards (75p per refund). No setup fees, beyond buying the card reader.Works via Bluetooth with your smartphone or tablet.Money deposited within 1-2 business days.Accept: MasterCard, Visa, American Express, Maestro, V pay, Visa Electron, JCB, Diners Club, China Union Pay, Discover, Apple Pay and Andriod Pay.Accept contactless payments in just 5 seconds.Transaction Fees: 1.75% per transaction for credit and debit cards. Accept Contactless, Chip&PIN and Magstripe payments.MyPOS Go 2 Reader Cost: £29 + VAT (other models available) Visit the Dojo Go website to learn more (and be sure to ask for Stefan)
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