Entrepreneurship & Small Business

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

  • Last Updated:
  • Dec 7th, 2017 12:26 pm
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Member
Apr 6, 2010
492 posts
52 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 was just going through this again and I realized I missed something:

When you process a transaction on a credit card, the customer authorizes you to take money from their account. VARS cannot charge anything on the same credit card without the customer's approval. So there is something very wrong there, unless you are talking about a DEBIT surcharge, and that is added to the price you enter at the time of the transaction.

I see that nobody else discussed rates and services provided by VARS, except one comment - "good things about them", can anyone that is using them elaborate?
Cristian.
Deal Addict
User avatar
Aug 21, 2008
1096 posts
454 upvotes
Hamilton
I'm interested in POS processing offers as well.
Checked Elavon (via Costco) and PBH, it's good to see most information including fees, setup, terminals, options, etc is on their web site. TD, Moneris, Chase, and other merchant services do not bother to reveal info yet and ask to contact them :( Some new entrants in US do not offer services in Canada. Technology is becoming affordable and I see better rates now. I appreciate any personal insight. I'm looking for total cost / true rates, hidden fees info, tips, recommendations, referrals, etc to make an educated decision. TIA
Newbie
Nov 22, 2016
64 posts
10 upvotes
HamsiBrain wrote:
Nov 3rd, 2017 8:03 am
I'm interested in POS processing offers as well.
Checked Elavon (via Costco) and PBH, it's good to see most information including fees, setup, terminals, options, etc is on their web site. TD, Moneris, Chase, and other merchant services do not bother to reveal info yet and ask to contact them :( Some new entrants in US do not offer services in Canada. Technology is becoming affordable and I see better rates now. I appreciate any personal insight. I'm looking for total cost / true rates, hidden fees info, tips, recommendations, referrals, etc to make an educated decision. TIA
I am the pricing manager for a credit card card processing company. Only get interchange plus. That's how you see what's the true cost. Note however that there will be assessment fees as well, which are fees collected by Visa, MC etc. Amex isn't as expensive as most sales rep's will make it if you aren't that big so you can be put onto opt blue. Try to get interchange plus .30% anything higher and you are overpaying. Interchange costs itself can vary widely by industry type.
Deal Addict
User avatar
Aug 21, 2008
1096 posts
454 upvotes
Hamilton
FindDealstoronto wrote:
Dec 7th, 2017 1:29 am
I am the pricing manager for a credit card card processing company. Only get interchange plus. That's how you see what's the true cost. Note however that there will be assessment fees as well, which are fees collected by Visa, MC etc. Amex isn't as expensive as most sales rep's will make it if you aren't that big so you can be put onto opt blue. Try to get interchange plus .30% anything higher and you are overpaying. Interchange costs itself can vary widely by industry type.
Thank you for the info and tips. We decided to go with cash/cheques until we fully understand the cost/benefits and business pick up. Will search for some details about interchange +.

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