If you accept lots of smaller transactions or accept a lot of business credit cards (i.e have a lot of corporate customers) then a variable card reader won’t be the one for you.ī) Fixed cost, usually charges are higher but more stable pricing so you can bank on the costs more easily. The two main types of payment processing for credit card terminals are:Ī) Variable based on the types of cards you accept and the transaction size and average amounts.įor example if you process mostly Visa and Mastercard personal debit cards and your average transaction fee is high (say above $50 per average transaction.) Then a variable card reader might be the best option for you. There are a number of different credit card terminals that offer very different deals based on these. The next step is to work out the average size of transaction and average monthly revenue as these can factor into which card reader is going to best for your business. So if you need to take the credit card terminal to your customers tables, across a bar, or move it from different counters, you’ll want a more portable credit card reader.ĭo I need a variable or fixed fee credit card machine? As many credit card machines (AKA as credit card terminals) rely on an ethernet connection and external power point. If your business is a food truck, a restaurant, bar, flea market or other business where you won’t have a permanent counter then you’ll need a portable machine. The first step in the process is to work out if you need a portable credit card machine. The kind of machine you need relies a bit on your business so here’s how to assess which machine is best for your small business:ĭo I need a portable credit card machine? Each different credit card machine comes with different fees, different cards that it can accept, and they all charge different one off and possibly monthly fees. Choosing the right credit card machine for your small business can mean saving you tonnes of money on credit card processing bills.
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