Chip and PIN is a cardholder verification method, not a machine type: every current UK card terminal supports it alongside contactless. What you are actually buying is a terminal with a keypad, and every device in this index has one. Published hardware prices run from 11 to 179 pounds, and the account behind the machine costs between 0.79% and 1.75% of takings.
Why chip and PIN still matters when everyone taps
Contactless carries a per transaction ceiling and a cumulative limit before the card asks for a PIN, so any business with a sale above that ceiling needs a keypad. It is also the fallback when a card will not tap and the route for a customer whose bank has asked for verification. A terminal without a keypad is a terminal that turns away sales.
Mobile chip and PIN, and the connectivity question
A mobile chip and PIN machine has its own SIM and works away from wifi, which is what a market trader, a mobile therapist or a taxi driver needs. Bluetooth readers borrow the phone's connection instead and cost less. myPOS prices its standalone portable range from 39 pounds excluding VAT for the Go 2 up to 179 pounds for the Ultra, which is roughly the price of that independence.
What the machine costs to run
On 3,000 pounds of monthly card takings, the spread between the cheapest and dearest published rate here is roughly 29 pounds a month, or about 350 pounds a year. That is more than any terminal in this index costs to buy. Choose the account on the rate and the monthly fee, then pick the machine that suits where you trade.
Questions people ask about chip and pin machine
How much are chip and PIN machines?
Published outright prices in this index run from 11 pounds plus VAT to 179 pounds excluding VAT. Bank owned acquirers more often rent, with Elavon printing 15 pounds a month for a countertop model and 18 pounds for a mobile one.
Do I need a separate machine for credit cards?
No. Every terminal here takes debit and credit cards on the same device. What can differ is the rate: interchange on a UK consumer credit card is capped higher than on a debit card, and a few providers price the two separately rather than blending them.
Can a chip and PIN machine work without wifi?
Yes, if it has its own mobile SIM. Bluetooth readers cannot, because they use the paired phone's connection. If you trade at markets or in customers' homes, buy the SIM version and treat the extra cost as insurance.