Taking credit and debit card payments (2024)

Cheers

I pay £20 per month for the machine and because I don't take credit cards - just debit cards the transaction charges are very low - about 10pper transaction if I recall. Typically I pay about £40 per month overall.

Obviously if you take credit cards it costs something like 1.5% of the transaction (you can recharge this to the customer) but also bear in mind thatany purchases that are paid for in this way are covered by the consumer credit act and as such are subject to being clawed back if the customer forany reason decides he is unhappy with the product. The card company will claw back first and ask questions later!

I am with HSBC merchant services.

A colleague who is in the same business as me was with Barclays and he was paying over 10 times as much until I mentioned how much I was paying!

Cheers

Mark

quote:Originally posted by gremlin1234
for a very small company you may find accepting paypal does what you need, since users can pay them by credit card.

Sorry forgot to mention this is for customer face to face not on the interweb.

quote:Originally posted by mookaloid
Hi Ian,

I pay £20 per month for the machine and because I don't take credit cards - just debit cards the transaction charges are very low - about 10pper transaction if I recall. Typically I pay about £40 per month overall.

Obviously if you take credit cards it costs something like 1.5% of the transaction (you can recharge this to the customer) but also bear in mind thatany purchases that are paid for in this way are covered by the consumer credit act and as such are subject to being clawed back if the customer forany reason decides he is unhappy with the product. The card company will claw back first and ask questions later!

I am with HSBC merchant services.

A colleague who is in the same business as me was with Barclays and he was paying over 10 times as much until I mentioned how much I was paying!

Cheers

Mark

Cheers Mark. Your charges are what I had in mind. looks like with all things "Shop around".

I'm yet to find out whether you MUST buy/rent the machine from the bank. They're available on eBay 'second hand', andI'd assume it's just a case of entering the phone number and merchant account number and off you go, but nobody has been able to confirmor deny that for me as yet.

I spoke to a couple of independant providers (card save are the ones that came to mind) and they were prepared to offer better deals than the banks. However, when I mentioned them back to the bank they were happy to match the prices, so as usual the advice I'd give is shop around and keepasking 'can you beat xyz's price', 'why should I go with you when abc is cheaper', etc.

Chris

I was mailshot a while ago by Barclays as to if I wanted a machine, but at the costs (I was fairly costly) I wasnt impressed. For an online businessonly, it works, and you dont need a paypal account as a buyer to pay, you can do it by entering your card number etc, online, rather than starting abuyers full account.

But yeah, no good for face to face

atb

steve

Still waiting for a £380 payment to show though from the 20th of last month, think you know which bank the card holder uses ? Apparently as we havethe authorisation code we will see it eventually.