Choose the right payment terminal for your business

5 mins

By Mark Davis, June 17,2022

Let’s take the example of a taxi driver, Marie, who makes €3,000 in fares in a month.

Here is what it would cost Marie to receive all those payments through a MPOS payment terminal: 

Cost to buy an MPOS terminal => between €20 and €30 excluding VAT.

Fixed commission => €0.

Commission per transaction (1.75%) => €52.50.

The difference between MPOS terminals and traditional ones can be calculated with the purchase cost of the machine, the commission on transactions and rental fees. The commission on each payment is usually lower when going through a traditional bank (around 0.45%) but there is also the fixed commission to consider. The rental costs also need to be taken into account and can be anywhere between €20 and €40 per month. 

ABOUT THE AUTHOR
Mark Davis
Mark worked for 12 years in broadcast journalism before making the switch to business audiences. A Qontoer since 2021, his focus is on writing copy that speaks frankly and directly to customers.
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