Yes, I think the one i mentioned charges 2.5% but i don’t know how much is for the bank.

So they get paid double from both the customer and the buisness.

Elavon was started in Ireland by BOI and others and still employ hundreds here.

daddy or chips?

Good point. It isn’t. XD

I think they had avert good excuse until recently. The cost was prohibitive, you required a phone line, the machine had a monthly rent and commission on top. For many small business’ it was simply too expensive.

“Businesses really have no excuse not to accept card payments at this stage”

Well if you were running a business and felt that charges on credit card transactions of up to 3.75% is okay, then I guess you are right.

Personally as a small business owner I think it’s a total rip-off and hate it when customers want to pay with credit card. Margins are small enough as it is.

You also have to add the monthly merchant service fees and payment gateway fees to the individual transaction charges. Prior to this it was in no was cheap to accept credit card payments. Elavons new offering seems very reasonable from what I can make out there is a once off 25 euro merchant account fee then 10 euro a month account fee. There does not appear to be any transaction fees. Wondering how it can be PCI compliant though, most phones can do screen shots and surely these can catch the customers card information.

@Gareth

Trust me, there will extra fees. Visa and mastercard will also want their cut. This is normally done at the merchant account lvl.

Payment processor : As you say a low monthly charge.

But you also need a Bank merchant account and that wont go away any time soon.This is where the % starts kicking in sadly.

Over here the transactions are really fast with chip and pin. The readers are always customer facing so you can enter your pin while the cashier is totting up the total, then just confirm it when it appears on the card reader. I timed it, before because it seemed so fast. Typically buying a single item takes no longer than 15 seconds. Any more than that and it’s the cashier you’re waiting on, not the transaction.

What chip and pin technology has to do with the “New World Order” is beyond me….Out of curiousity do you barter in carrots and wheat when you go to your local shop for 2 litres of milk?

A cashless society would not be good for us. Not too sure about nwo though. A cashless society will result in more charges for us, more profits for the banks.
I’ll try and explain what I mean. Now if you take out €200, you will get one charge for that transaction. And when you spend the cash in a shop you won’t get any more transaction charges. In a cashless society every time you use the service to buy something, even the smallest of things, you will incur a service charge. Thus more charges for us and more profits for the banks and service companies.

my credit card does not charge me for making transactions.

If it’s beyond you then you’re not sure looking hard enough. Not saying it’ll happen, but the potential is obvious.

Must try running that past the barman (I jest of course)