chip and pin machines

Discussion in 'Bulletin Board ARCHIVE' started by MiserablePontyEnder, Jul 6, 2014.

  1. Mis

    MiserablePontyEnder Well-Known Member

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    Not footy related. Is anyone self employed with a mobile chip and pin machine? My mates daughter is a hairdresser and is wanting to know how to link it to your bank account etc. Any advice appreciated.
     
    MiserablePontyEnder, Jul 6, 2014
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  2. pompey_red

    pompey_red Well-Known Member

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    Your best bet may be a paypal mobile card reader....sw them on special at £49 down from £99. uses the customers credit/debit card to pay into your paypal account, they do charge a fee and you need internet connection to make the magic happen i believe
     
    pompey_red, Jul 6, 2014
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  3. Brianpotter

    Brianpotter Active Member

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    Would allbe set up by the provider of machine usually. I use a company called 'Handepay' - Good rates and not a problem in my first year or so with em!! Money hits bank account 3 days after transaction happens.
     
    Brianpotter, Jul 7, 2014
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  4. Ext

    Extremely Northern Well-Known Member

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    1st step is to ask her bank if they provide a terminal.

    Then what they charge, and what timescale it takes for the money to be credited to her - for example, with some providers, if she took payment today it wouldn't show up in her account until Thursday.

    There are loads of providers though.
     
    Extremely Northern, Jul 7, 2014
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  5. Jay

    Jay Well-Known Member

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    I guess you have chip and pin machines. What do you pay to have 'em? What percentage of the payment do the banks take? Actually, what the whole deal? Just interested like, not for any particular reason.
     
    Jay, Jul 7, 2014
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  6. Ext

    Extremely Northern Well-Known Member

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    Yep, and on average, I pay about 1% of takings in charges - looking to get that down like.

    I pay rent for the terminal and handset, then either a % or a fee per transaction depending what card it is.
     
    Extremely Northern, Jul 7, 2014
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  7. Jay

    Jay Well-Known Member

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    Do you pass those fees on to customers or just absorb them and make a smaller profit?
    Would it be better for you if folk paid in cash?
     
    Jay, Jul 7, 2014
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  8. BorderTerrier

    BorderTerrier Active Member

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    Here you go mate, gives you a rough idea, you nosey get http://merchantaccounts.expertmarket.co.uk/pdq-machine-cost
     
    BorderTerrier, Jul 7, 2014
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  9. Ext

    Extremely Northern Well-Known Member

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    No cos the bank charge an absolute fortune to pay cash in.

    It's just another overhead - I can see why small shops would charge extra for card payment for small amounts though.
     
    Extremely Northern, Jul 7, 2014
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  10. BorderTerrier

    BorderTerrier Active Member

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    Yeh true, we just swallow it as another overhead. We try to use cash in the business to pay weekly wages/COD goods to reduce the amount of cash we bank every week, as you say that costs a lot too.
     
    BorderTerrier, Jul 7, 2014
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  11. Ext

    Extremely Northern Well-Known Member

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    Likewise - got you all ways haven't they ?
     
    Extremely Northern, Jul 7, 2014
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