Every business that wants to grow its profits and succeed in the modern world will need to offer card machines as part of its service. With more and more people opting to pay for goods using their card, cash is becoming redundant in some ways. Furthermore, if you only accept cash then you are going to lose a lot of business and that makes it even more imperative that you look for the best-priced card machines on the market.


As with everything, there is a lot to think about but taking careful consideration and checking the options that are available to you, you can make the right choice and find the perfect card machine. So, how do you find the lowest priced card machine fees?


Look at all Providers


In the same way as you would with insurance or energy providers, it’s always worth shopping around to see what card terminal providers are out there. They are all touting for your business but they all try to do things differently which makes finding the right machine vital. Whether you want a salon card machine or a restaurant card machine, you need to look at the costs of all.


With a clear overview of the market, you can explore the range of fees that you will need to consider such as monthly fees, joining fees, exiting fees and even minimum monthly usage fees. Companies such as XEPAY provide a cost-effective solution whereby customers are given the power to benefit from fewer fees and a better service. Therefore, it makes sense to shop around.


Only Pay for What You Need


Whether you’re a new business or an established one, it makes sense to consider the needs of your business. How many terminals will you need? Do you have several payment points in your store or restaurant? Are you a small salon with one counter and therefore only require one epos card machine.


When choosing a card machine, you might find that it’s too tempting to purchase more than you need as a form of insurance should you need it but if you go overboard, you’ll find that you are paying more in fees. Therefore, obtain card machine quotes that allow you to gain clarity when it comes to determining how much you need and how much is available. Some providers might penalise you for keeping things minimal and should you want to upgrade into the future then they might want to charge you more.


Consider all Costs

Many providers charge for almost everything and so, it is not a one-off fee that you have to look for. Some providers will ask for you to sign up to a contract while others might charge your joining fees. There are those that will change PCI fees and some will add on scheme fees and interchange fees. This myriad of fees can become confusing at best but they could mean that you end up paying more than you need to.


With XEPAY everything is transparent because there are no joining or exit fees and there are no PCI fees either. What’s more, you won’t need to pay a minimum monthly usage fee either which is great for businesses that are seasonal. Finally, there is no contract either which provides complete flexibility over how you run your business. 


The costs can spiral out of control if you go with a provider before doing your research.


Do You want a contract or not?


Many card providers do all they can to tie you into a contract. Once you have signed, you’ll be stuck with them and you will have to pay the fees, even if your business closes or experiences a downturn in takings. Ideally, you want a provider that does not charge contract fees, giving you the freedom to use their system with confidence.


With no contract, it means that you can leave at any time which is a luxury in the world of business because you never know what is around the corner. Keeping fees low is crucial but making sure you don’t make the mistake of tying yourself into a contract is also vital.


Consider Bank Accounts


As a business, you want to make sure that you take payments as easily and as freely as possible. With some low fee providers you might find that you are limited to the banks you can connect to and with others they will connect with any bank. 


If you pay a high fee then you might have access to every bank but then again you might not. You need to make sure your provider allows you to connect with every bank as that will enable you to process more payments and take more cash. So, don’t consider your high street banks alone, consider a provider that will also connect to startups such as Tide and Monzo as more consumers are switching to these banks to save their money.


Minimum Monthly Usage


If you’re a thriving business that operates all year round then minimum monthly usage might not be an issue but it’s something that is worth considering. Perhaps you are a business that thrives during the summer months and not so much during the winter months. Maybe you’re business experiences a downturn in customers for some unknown reason. Whatever the reason, many providers will charge you a minimum monthly usage fee. These are hidden charges that many people fail to notice, especially those businesses that do see seasonal changes. Consider a provider that doesn’t charge a minimum monthly fee as this will allow you to pay the lowest price possible. 

With card terminals becoming an integral part of business, it’s really important that businesses don’t fall into the trap of paying high fees and getting stuck with a provider that doesn’t offer them the best service. Overall, a small amount of research and insight will ensure that every business can avoid paying extortionate fees and benefit from a provider that puts their needs first.