Entrepreneurship & Small Business

point of sale units pricing (debit, credit, mobile, moneris)

  • Last Updated:
  • Mar 14th, 2011 8:58 pm
Tags:
None
Jr. Member
Sep 28, 2009
130 posts
Regina

point of sale units pricing (debit, credit, mobile, moneris)

Hey,

I want to start a delivery business and I am interested in mobile point of sale units. Anyone know what the rates and fees are? Is it a big investment?

I am looking on the moneris website, but it doesn't show rates unless I apply which I don't want to do, too early. I think having a mobile point of sale unit will give me the competitive advantage, but, is it worth it? Of course, I would probably have a nominal fee for debit or credit.

I have heard they have units that connect to smart phones now. This might be good as the smart phone would be great for business calls and emails, etc. Anyone can find more information on these? (or have used them)

Anyone trying to do a startup can benefit from this. Someone out there can help us ambitious startuppers, please?
15 replies
Member
Aug 1, 2008
282 posts
49 upvotes
Toronto
A Moneris wireless terminal (which uses the Rogers network to process Visa/MC/Amex/Interac transactions) costs approximately $85 per month to rent the device.

Although, you'll also pay a host of account setup, monthly maintenance, per transaction and percentage of sales fees. You'll also pay a few hundred dollars in cancellation fees if you leave Moneris before the end of your three year contract.

There are some start-ups such as SquareUp offering iPhone-based credit card processing in the U.S.; although I'm not currently aware of anyone offering this service for credit cards in Canada.

If you do look at setting-up a merchant account with one of the big four (Moneris, TD Merchant Services, Chase Paymentech or Global Payments), or some of their resellers, be sure to read all of the fine print in the contract before committing to them, and get all of their promises in writing.

There are some good tips and advice on merchant accounts elsewhere in this forum, especially towards the end of that thread.
Member
Apr 6, 2010
463 posts
48 upvotes
Toronto
tyler.mcg wrote:
Jan 16th, 2011 6:01 pm
Hey,

I want to start a delivery business and I am interested in mobile point of sale units. Anyone know what the rates and fees are? Is it a big investment?

I have heard they have units that connect to smart phones now. This might be good as the smart phone would be great for business calls and emails, etc. Anyone can find more information on these? (or have used them)

Hi Tyler,
Please send me a private note if you are really interested in this, I can certainly give you all the information you need, as I work in the industry. And it definitely isn't $85 per month...

For the smart phones system, the service is not available in Canada as far as I know.
Cristian.
Member
Aug 1, 2008
282 posts
49 upvotes
Toronto
Christian_01 is right; terminal rental rates do vary, even within the same company; although you'll want to view the terminal rental rates in the context of your entire fee structure.

We spoke with two different Moneris reps over the course of setting-up the account, and were quoted $70+HST=$79.10 and $75+HST=$84.75 per month for the wireless terminal; although we picked the latter because it made more sense, as it was bundled with lower per-transaction and percentage of sales fees.

TD was going to charge even less for the terminal ($60+HST=$67.80/month), although their quoted base rate was 0.3% more than Moneris on every Visa/MC transaction, which made Moneris a better deal.

That's why it pays to get multiple quotes from different vendors, to add some transparency to the processors' otherwise opaque pricing models.
[OP]
Jr. Member
Sep 28, 2009
130 posts
Regina
Cristian_01 wrote:
Jan 17th, 2011 7:50 am
Hi Tyler,
Please send me a private note if you are really interested in this, I can certainly give you all the information you need, as I work in the industry. And it definitely isn't $85 per month...

For the smart phones system, the service is not available in Canada as far as I know.
Cristian.

pm sent
Sr. Member
Oct 8, 2008
684 posts
52 upvotes
tyler.mcg wrote:
Jan 16th, 2011 6:01 pm
Of course, I would probably have a nominal fee for debit or credit.
Just an FYI, you can't surcharge or impose minimums for credit card transactions. It's against both Visa's and MasterCard's merchant agreements. Interac allows minimums provided they are disclosed up front, and allows surcharging providing the terminal prompts the customer of the service charge.
Newbie
Feb 3, 2011
1 posts
Dubreuilville
I use VARS Investment from Sudbury, The Only thing I pay for is for my Shipping to get my paper, they charge a 50 cent fee to the customers, I don't pay for rental..... or anything, Ive been using them for 2 years and very Happy.
Member
Apr 6, 2010
463 posts
48 upvotes
Toronto
Groomerguy wrote:
Feb 4th, 2011 5:32 pm
I use VARS Investment from Sudbury, The Only thing I pay for is for my Shipping to get my paper, they charge a 50 cent fee to the customers, I don't pay for rental..... or anything, Ive been using them for 2 years and very Happy.

I am quite intrigued by your post - you as a merchant are processing credit cards on a wireless terminal and the provider (VARS) is not charging you for the terminal, or for the Visa/mastercard processing (not even AmEx if you use it), not for debit processing, not for airtime, not for anything...
From what I`ve seen on their website, they are partenered with RBC, which means that you may be dealing with Moneris - maybe they are the ones charging your bank account. They also partner with Open Solutions, I didn`t hear about them offering POS services.
With only $0.50 per transaction VARS charges your customers, I wonder what deal they have with Visa and Mastercard, which have published interchange rates and how the other providers manage to stay in business... please elaborate.
Cristian.
Deal Fanatic
User avatar
Aug 19, 2001
5086 posts
27 upvotes
Vancouver
D582 wrote:
Jan 19th, 2011 9:31 am
Just an FYI, you can't surcharge or impose minimums for credit card transactions. It's against both Visa's and MasterCard's merchant agreements. Interac allows minimums provided they are disclosed up front, and allows surcharging providing the terminal prompts the customer of the service charge.
You CAN ... until you're caught!! and even then you can just say you're sorry and just be more sneaky in future :D
Member
Apr 6, 2010
463 posts
48 upvotes
Toronto
Bf2fighter wrote:
Feb 8th, 2011 4:54 pm
we also dealt with VARS in past ( http://www.varsnetwork.ca and can say only good things about them :)

I checked the website, I still don't understand how they provide POS services (they do sell the terminals and ATMs, but for services they only provide prepaid stuff - wireless, mastercard...)
My question was about the fees for processing credit cards - on a $100 transaction Visa charges between $1.60 and $2.00... how can VARS charge customers $0.50 only and make money? not to mention the cost of the terminal?
Any idea?
Cristian.
Newbie
Feb 27, 2011
5 posts
Ottawa
tyler.mcg wrote:
Jan 19th, 2011 12:23 am
pm sent

Tyler.mcg, can you send me a private message as well?

I run a cyclical tax business and only require a portable terminal for a few months of the year. What would be my best option?
Newbie
Feb 28, 2011
47 posts
4 upvotes
So, are there any Paladis users here?

I'm with Global Payments and wondering about switching to Paladis to get wireless units (I only have office-based right now and it's causing me headache).

Tried calling the guy, but he's not picking up. Can't even leave a message. Not very professional.

But!

If it is a good deal and good product, I still want to investigate.

I understand he just a reseller for another company, right?
Member
Apr 6, 2010
463 posts
48 upvotes
Toronto
Yoree wrote:
Mar 1st, 2011 4:12 pm
So, are there any Paladis users here?

I'm with Global Payments and wondering about switching to Paladis to get wireless units Tried calling the guy, but he's not picking up. Can't even leave a message. Not very professional.
But!
If it is a good deal and good product, I still want to investigate.
I understand he just a reseller for another company, right?

There was a discussion here in 2009, a search for it will show you the thread. You can also look at their website, interesting, apparently all you pay for credit cards is 1.65% and everything else is free! (Any wireless uses air time just like a cell phone and all providers will charge you for it, to mention only one issue).

Good luck,
Cristian.
× < >

Top