Which payment setup fits your business?
| Setup | Typical requirement | Key comparison |
|---|---|---|
| Portable reader | Taking payments away from a fixed till | Phone dependence, mobile data and battery life |
| Countertop or integrated terminal | Regular in-person sales linked to an EPOS system | Integration, reconciliation and support responsibility |
| Payment gateway | Website or app checkout | Platform support, authentication and gateway fees |
| Payment links or virtual terminal | Remote payment requests | Permitted uses, fraud exposure and different transaction fees |
Compare processing costs using your sales
Gather recent merchant statements, monthly card turnover, average transaction value and the mix of card and payment types. Ask providers to price that same profile.
The Payment Systems Regulator’s card-acquiring review explains its work to improve merchant comparison, including summary boxes and quotation tools for directed providers. Use available pricing summaries alongside the full agreement.
Use a complete cost calculation
Estimate percentage-based processing charges plus per-transaction charges, monthly service fees, terminal rental and other agreed costs. Check minimum monthly charges, refunds, chargebacks, compliance fees and early exit terms separately.
For example, on £20,000 of card sales, a 0.2 percentage-point difference in processing price equals £40 for that month before fixed fees and card-mix differences. This is an illustration, not a market quote.
Check when money reaches the business
Confirm the settlement timetable for weekends and bank holidays as well as ordinary trading days. Ask about reserves, holds, account reviews and any cost for faster settlement.
Test how payments, fees and refunds reconcile with the bank account and accounting system. A lower processing rate can be offset by extra manual work or an unsuitable settlement cycle.
- Who supplies and supports the terminal?
- Can the EPOS provider and acquirer be changed separately?
- How are disputes and refunds handled?
- What happens if the internet connection fails?
Plan a controlled switch
Keep the old settlement and refund records accessible during migration. Test the new terminal, online checkout, receipts and end-of-day reconciliation before switching every location.
If changing EPOS at the same time, assign one person to confirm responsibility across suppliers. Retain the contract and equipment return instructions for the outgoing service.
Frequently asked questions
Is the lowest transaction rate always cheapest?
No. Compare your expected total after fixed fees, transaction charges, minimums, hardware and contract costs.
Card types and the way a payment is taken can also change the price.
Are card machines and EPOS the same?
No. A terminal takes payments, while an EPOS system can manage sales, stock and other workflows.
They may be bundled or integrated, but check the separate agreements and support responsibilities.