A credit card machine is a card terminal plus an acquiring account, so a credit card machine for small business price comes in two halves. Hardware on this shelf is published between 11 and 179 pounds. The account is published between 0.79% and 1.75% where it is published at all. For a small business the account is the expensive half: on 3,000 pounds of monthly card takings the gap between the cheapest and dearest published rate is about 29 pounds a month.
Credit card machine rates and credit card machine prices, side by side
On hardware, Tide lists the Nano from 11 pounds plus VAT, Zettle starts at 29 pounds excluding VAT for new business users, myPOS prices the Go 2 at 39 pounds excluding VAT, and Elavon's Start Simple plan carries a 5 pounds one-off device cost. On the rate, Lopay prints 0.79% on its Essential account, myPOS from 1.10% plus 7p, SumUp 1.69% on Pay-as-you-go, and Zettle and Elavon 1.75%. Read the two lists together: the cheapest machine and the cheapest rate rarely come from the same provider.
Best credit card terminal rates over three years, not three months
Terminals are bought once and accounts are paid for continuously, so compare over the term you expect to stay. A machine bought at 39 pounds on a 1.10% account costs about 435 pounds over three years at 3,000 pounds a month. The same takings on 1.75% costs about 1,930 pounds. No hardware discount closes a gap that size.
Credit card machines for small business: UK contract length and the cost of leaving
The Payment Systems Regulator's card acquiring market review identified terminal contracts and early termination charges as what actually stops UK merchants switching. The app based providers here publish no minimum term. Traditional acquirers and resellers usually have one and the exit charge sits in the merchant agreement rather than on the pricing page. Ask for it in writing before signing.
What a cheap credit card machine is usually cheap at
A low hardware price is often paired with a higher rate, a longer term or a monthly service fee that starts after an introductory period. Barclaycard prints exactly that shape: no monthly service fee for twelve months, then a stated monthly figure, and no transaction rate on the page at all. The offer is real and the second year is the number to compare.
Questions people ask about credit card machine for small business
What is the cheapest credit card machine for small business use?
On hardware, Tide's Nano at 11 pounds plus VAT. On the running rate, Lopay's Essential account at 0.79%. On total cost over a year the answer depends on your card takings, and for most small businesses the rate matters far more than the machine.
How much is a credit card machine for a small business?
Bought outright, between 11 and 179 pounds on the published pages here, before VAT on most. Then the account charges its rate on every sale, between 0.79% and 1.75% where a rate is published, and that running cost is usually the bigger number.
What is the credit card terminal cost if you rent instead of buying?
Elavon prints its rentals at 15 to 18 pounds a month per machine, beside a lower transaction rate than its five pound device plan. Most app based providers do not rent at all: the machine is bought once and there is no monthly charge for it.
Can I get a machine for credit card payments with no monthly fee?
Yes. SumUp, myPOS, Elavon's entry plan and Tide's Pay As You Go column each print a zero pound monthly fee beside their rate. The trade off is a higher percentage than the subscription plans charge.
Do credit card machines come with a contract?
It depends entirely on the provider type. App based providers here advertise no contract. Bank owned acquirers and resellers typically have a minimum term with an early termination charge, which is the switching cost the regulator has written about.
Sources
- Barclaycard Payments card machines
- PSR market review into the supply of card-acquiring services (MR18/1.8)
- Tide card reader range
- Zettle by PayPal UK pricing
- myPOS portable card machines
- myPOS UK prices and fees
- Elavon Start Simple plan
- Elavon Business Booster plan, per terminal rentals
- Lopay UK pricing
- SumUp UK pricing