Mobile EFTPOS terminal

[Dave_Obsession]

Hey guys,

Doing some groundwork about getting an EFTPOS terminal for my business...was wanting to know (for those who don't mind sharing), what your monthly costs are and whether you think the quote I've been given is reasonable.

Have spoken to these guys - www.getmeeftpos.com.au

I've been offered a mobile eftpos terminal (wireless / no phone line) on a 3 year contract for $9.00 per month (no contract is $18.00 per month)

For months where I put through less than $2500 a month through the terminal, I am charged a flat service fee of $22 (so total $31 per month)

If the amount exceeds $2500, it reverts to a 'per transaction' rate of the following:
Debit Card (Chq / Sav) - $0.15
Standard Credit Card - 0.74%
Premium Credit Card - 1.839%

Now compared to the few people I've spoken to so far, what I've been quoted sounds pretty good especially considering it's a mobile terminal...but I just wanted to get a few more opinons, and was hoping some others of you who run your own businesses would be able to pitch your $0.02 in!

Thanks in advance!

Dave

[GasoLane]

My wife runs a small Hairdressing shop and found Eftpos is essential for making extra money.

IE: Instead of just getting a trim and blow dry (as that's about all the cash they had on them) they would say "yeah, why not go for a colour as well, I've got my cards with me"

[Dave_Obsession]

Oh I totally agree, I'll be getting it either way through somebody...was more looking at the quote itself and if $31 a month sounds reasonable to everybody? I wouldn't know whether that's a good or bad rate...

[damoose]

They are pretty good rates I would be happy with that

[graham_h]

Have you spoke to Suncorp ?
A few techs i know use them.
Deals are very negotiable between the big banks.
Be very careful with "reseller" of these services.
Resellers go belly up really quickly then you'll be left with all sorts of dramas

[GTPete]

Check on the sim card in use, Telstra Next G will give you an advantage coverage wise, some units run Optus sim cards, nothing worse then not being able to swipe someones card due to lack of coverage.
Check the return fee, some banks charge up to $300 to return the unit even if your contract has expired.

[AU Mont]

a little related, but is it because of these tiny fees, that alot of business say "EFTPOS mininum spend $10" ??

i never really understood why they state that, or if its even legal?

[Dave_Obsession]

What I've been offered uses Telstra...
If I break the contract it is a $450 fee but in their words "after that there is nothing to pay"

I guess it could be AU Mont...businesses just trying to increase their revenue, by making you purchase that one extra item that you don't really need...but you buy it to get over that $10 threshold....business simply taking advantage of the fact that most of us don't carry much cash around these days.

[Spudz27]

At my old job we went from ANZ to Commonwealth to NAB. Boss said NAB was by far the best deal of the big banks.

[sneaky]

my wife runs her own business selling items at handmade markets, she was telling me about being able to use iphone as eftpos machine in the US but not here yet.

http://www.smarthouse.com.au/Home_Of...ustry/U6P3M5N8

would be good to see, not sure if people would be keen to swipe their cards through a phone though

[Yellow_Festiva]

Originally Posted by AU Mont

a little related, but is it because of these tiny fees, that alot of business say "EFTPOS mininum spend $10" ??

i never really understood why they state that, or if its even legal?

They say that so people don't put single items that cost a few dollars on a card. Not only does it waste time at the till, it also means less profit for a business on single items.

It is legal, as long as it isn't the ONLY method of payment (from what I have heard). If they accept cash then paying by card is an optional luxuary that you must pay for (much like a lot of things these days). Cash or debit should always be commision free.

I was behind a checkout for 10 years and people would use EFTPOS for 50c bubble gum and put $2 cans of drink on the credit card.....

And agree with the comment regarding the extra payment facility creating more revenue... my wife does just as GasOLane describes lol.....

[BHDOGS]

As a customer if I see a minimum spend of Wateva amount and only have my card and only want a dollar item or whateva I go elsewhere as I'm buying the buisness isn't doing me a favor by selling something I want.

[foxtrot3]

Hi. I always try to avoid large places that ask an extra % on card transactions to "cover costs" as card transactions don't really cost any more than handling cash. Cheers MD