Payments
How to compare card terminals and payment provider quotes
A low transaction rate can look attractive while rental, contract terms or an unsupported till connection make the proposal unsuitable. Use the same payment activity and service requirements to compare each offer.
Written by Jessica Gardner, In-house Editor, Reeve Consult · 2 min read
Updated
How can you compare card terminal quotes fairly?
Ask each provider to price the same transaction volume, transaction count and card mix, including recurring charges and equipment. Then compare payout timing, contract terms, the exact till connection and support during your trading hours. A proposal must meet the requirements your business cannot trade without before a weighted score or a lower price can make it a sensible choice.
- Headline rates are not comparable if they cover different card types or exclude different fees.
- A cheap terminal that cannot connect to your till may create extra work on every payment.
- An example calculation illustrates a method; it is not a current quote or a promised saving.
Two proposals can show similar transaction rates and still provide very different costs and working arrangements. A useful comparison follows the same payment activity and the tasks staff need to complete.
What should each provider price?
Use the same turnover, transaction count and card mix for every proposal. Include in-person and online payments separately where their prices differ. Ask which fees are included in the quoted percentage and which are additional.
A per-transaction fee matters differently for a £5 purchase and a £100 purchase. A fixed monthly charge has more effect on a quiet month. A comparison using only annual turnover hides both differences.
What does the equipment need to do?
Identify where customers pay, how many payment points operate at once and whether staff need a receipt printer. A fixed checkout and a restaurant table require different arrangements for power, network coverage and sharing devices.
If the till sends the amount to the terminal, confirm the exact product, version and supported actions. Payments, refunds, split bills and order entry are separate functions. A supplier's name in an integration list does not establish that every function is available.
Use your own payment activity to compare transaction charges, terminal costs, contract terms and payout schedules.
How do contracts and payouts affect the decision?
Compare the initial term, renewal, notice, termination and equipment-return obligations. A terminal rental can have different terms from the processing account. Include any one-off installation or exit costs in the period you are comparing.
Check payout timing, cut-off times and weekend arrangements against when the business pays suppliers and staff. “Next day” needs its actual conditions, not an assumption about every transaction.
How should support be compared?
Establish which team handles an account issue, a terminal failure and a till connection problem. Check contact channels and availability during your trading hours. A quoted response target should be understood as a target with a defined scope, not a promise that every problem is resolved immediately.
Check your current contract, compare a written quote and plan the handover before cancelling your existing service.
What does an illustrative cost comparison show?
For an invented month of £10,000 across 1,000 transactions, Proposal A charges £20 fixed, 0.8% and 2p per transaction. That totals £120. Proposal B charges 1.5% with no fixed fee, totalling £150. These are fictional prices used to explain the calculation.
That £30 difference does not settle the purchase if Proposal A fails an essential requirement. First establish that the arrangement works, then compare costs and any preferences. A simple total score can hide a requirement the business cannot compromise on.
How can Reeve Consult help?
As an authorised DOJO partner, we can review a statement and discuss a written proposal for the relevant equipment and setup. Bring the till details and requirements as well as the fees, so the comparison covers how the business will trade.
Frequently asked questions
Straight answers
Why does the transaction count matter as well as turnover?
Should the highest-scoring proposal always win?
Next step
Which part of your payment setup would you like to improve?
Tell us where customers pay, which till you use and which charges you want explained. We can discuss the options and arrange a statement review.
Request a payment reviewJessica Gardner is the in-house editor at Reeve Consult. She writes and edits every guide, blog post, and resource published on the site, making sure the writing is plain-English, the facts check out, and the advice is genuinely useful for the UK independent business owners we work with.