Cost of Mastercard transaction and card reader

[TheRestaurantMarketer]

Hi Guys

At some point my wife is thinking of moving from online only to possibly running a shop. Do you guys know if is it is a standard charge based on a percentage for all transactions taken by Mastercard?

Also, how much on average does it cost to hire the card readers?

Many thanks
Phil

 

[Paul Kelly ICHYB]

Why Mastercard specifically?

FOr all cards, debit and credit, there is now a % charged per transaction. Please tread carefully as there is a lot of smoke and mirrors in this game and too many companies keep quiet aboy hidden chargesand once you have signed a deal, you tied for 2-5 years.

A card machine can vary from about £12-25, depending on whether you want wired or wireless etc.

 

[TotalWebSolutions]

All acceptable cards (Visa, MasterCard, Amex etc) will have a % fee from an acquirer which largely consists of the interchange rate from the card schemes and processing fees from the acquirer service. The amount you will pay will generally depend on several factors including actual/estimated monthly card turnover, average card transaction value, nature of the business and how long you have been trading.

If you do go for a contract then you will generally pay lower % than if you go PAYG.

We work with a number of acquiring banks with whom we can get preferential rates for anyone that applies via ourselves. Feel free to drop me a PM if I can be of any assistance to your wife when she is ready for receiving quotes.