Taking Card Payments - Cheap!!

[cr0ft]

Hi all,

For anyone who is considering taking card payments but is put off by the high fees, try Cardcutters. I've been using them now for just over a month. They charge the following fees: -

0.25% + 30p for Debit Cards.
0.9% + 30p (or about that) for Credit Cards.
Monthly mobile terminal rental of £24.

We have two mobile terminals with them and now customers pay us as soon as the job is done, no more having to send an invoice and wait for money/chase people. Also no risk of non-paying customers this way too.

Worth the 0.25% of my turnover imo.

I think the others are charging around 8-12x as much.

Very glad I found them, hope they can help you all out.

PS If you do decide to join up and say that I referred you, I get 3 months free rental. That said, I wouldn't recommend them if I wasn't impressed myself and don't really mind if you mention me or not. More than anything just want everyone to know as I would have started accepting cards a lot earlier if I knew about this company.

Accepting credit cards opens up a lot more heating work, well it has for us.

Keiran.

 

[newcastle phill]

Currently with worldpay zinc. They charge no rental but alot more @2.75% per transaction.
I just pass it on.
Often makes them produce the cash anyway when faced with a bigger bill lol

Anyone avoid the new paypal tho. All the problems associated with paypal and charge backs - disputes etc.

 

[julesverne]

Do they have a minimum fee you have to pay in transaction fees like most other card providers. It generally around £15.00 plus monthly terminal rental.

Looking at getting one myself For our shop and looking web site payments when our eccommerce side goes online next month

 

[julesverne]

Is it 12 , 18 or 24 mth contract

 

[cr0ft]

i am on a 4 year contract but not an issue for me as still planning to be here then! they do other ones too plus short term rental. best rates are on 4 year deal though obviously.

There is a minimum charge of £18 a month I think so you need to be putting £7,200 a month through to make this worthwhile for you.

 

[julesverne]

i am on a 4 year contract but not an issue for me as still planning to be here then! they do other ones too plus short term rental. best rates are on 4 year deal though obviously.

There is a minimum charge of £18 a month I think so you need to be putting £7,200 a month through to make this worthwhile for you.

Thanks mate any other charges that they might sting you for? That may be aware of.

 

[Ray Stafford]

Anyone who is out of contract on their card machine should shop around at the moment.

Visa and Mastercard have radically reduced the fees that they charge the card processers in the last few months, so the latter have lots of room for manoevre.

 

[Ray Stafford]

This shows just how much the rates should be going down. The "Interchange" rate is like the wholesale rate that the big card issuers (Visa and Mastercard) charge to the acquirers - the people who operate the machines that traders use.

 

[armyash]

Out of interest why don't people go for straight bank transfers where possible instead of card machines?

Or do you already do that?

Or am i missing something?

 

[newcastle phill]

It isnt instant is it. Its a faff. Much easier to card it

 

[newcastle phill]

For smaller jobs anyway

 

[rpm]

Out of interest why don't people go for straight bank transfers where possible instead of card machines?

Or do you already do that?

Or am i missing something?

I think this maybe on the increase as I`ve had 5 people ask to pay in this manner in the last 2 months.

 

[PlumbBobBob]

I always take bank transfer when the customer has online banking

 

[cr0ft]

We've only really ever taken bank transfers till last month armyash. This way the customer pays before we leave so we never have to worry about a bad debt again. We get on average one a year which would typically average at £600/yr. That covers the card fees.

Also with two vans the lads don't need to worry about taking cash/cheques.

Also, how much work might you be missing out on by not accepting credit cards?

 

[newcastle phill]

True.
Does that do card holder not present transactions.

Thats the one big+ with worldpay and also upto 5000 squid per transaction.

Ill have to look at it..

 

[Paulplumb]

I have a worldpay terminal and it costs £16 a month. The cost per transaction on debit cards are pennies. It is a few percent on credit cards which I would pass on to the customer. Therefore most customers opt to pay via cash or debit card.

 

[cr0ft]

True.
Does that do card holder not present transactions.

Thats the one big+ with worldpay and also upto 5000 squid per transaction.

Ill have to look at it..

Yes it does mate.

 

[Ray Stafford]

I have a worldpay terminal and it costs £16 a month. The cost per transaction on debit cards are pennies. It is a few percent on credit cards which I would pass on to the customer. Therefore most customers opt to pay via cash or debit card.

This has also changed in the recent re-organisation.

Debit cards had always used to be a fixed price - usually somewhere between 12p and about 35p. They are also moving to a percentage basis, like credit cards, although a slightly lower rate.

It shouldn't affect you if you are in contract, unless the acquirer has something in their small print that allows them to change the basis of their charging.

 

[rpm]

Currently with worldpay zinc. They charge no rental but alot more @2.75% per transaction.
I just pass it on.
Often makes them produce the cash anyway when faced with a bigger bill lol

Anyone avoid the new paypal tho. All the problems associated with paypal and charge backs - disputes etc.

Wasn`t there something in the news recently about card payments and the fee`s that can be charged to you?

 

[cr0ft]

Yes basically retailers won't be allowed to charge a fee for card transactions. A real victory for consumers right? No - all retailers are going to do is put their prices up by 2-3% regardless of how you pay!!