Card payments & EPOS self-help guide
Compare card-payment and EPOS providers step by step
A practical process for understanding your transaction mix, uncovering the complete cost and checking the equipment, service and contract before your business commits.
Before you begin
This guide helps a business owner organise a first comparison. It does not recommend a particular provider. The cheapest-looking percentage rate may not produce the lowest total cost once the card mix, fixed charges, equipment and contract are included.
Useful principle: compare each option using the same turnover, number of transactions, card mix and sales channels. Otherwise, the totals are not like for like.
Free downloadable guide
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SME Sorted can also help you work through the review free of charge.
64-second overview
Eight checks before choosing card payments or EPOS
Watch this short animated overview with Chris's narration and on-screen captions, then use the detailed steps below to carry out each check properly.
Read the voiceover transcript
- The lowest headline card rate is not always the lowest total cost for your business.
- Start by recording where customers pay, your monthly card turnover, transaction numbers and average sale value.
- Use a recent merchant statement to list transaction rates, authorisation charges, minimum fees and every monthly cost.
- Add terminal rental, PCI charges, gateway fees, refunds and chargeback costs before comparing the monthly total.
- Check that the terminal and EPOS setup works with your till, broadband, stock and reporting needs.
- Compare settlement times, customer support and the rules for card-not-present transactions, refunds and withheld funds.
- Read the contract length, renewal terms and exit charges carefully, then keep a copy of everything agreed.
- SME Sorted can help you compare the complete picture free of charge if you prefer a second pair of eyes.
Preparation
Gather one reliable set of information
Use actual statements and agreements wherever possible. A verbal estimate or headline rate is not enough to reconstruct the complete cost.
- One to three recent merchant-service statements
- Monthly card turnover and number of transactions
- Average transaction value and busiest trading periods
- The split between debit, credit, commercial and international cards
- The split between in-store, online, telephone and payment-link sales
- Current terminal, gateway and EPOS agreements
- Contract end dates, renewal terms and any exit charges
- Your till, stock, reporting and connectivity requirements
Remove cardholder details before sharing a statement. The figures and fee descriptions are normally sufficient for a comparison.
Payment journey
Map where and how customers pay
Different sales channels can carry different costs and risks. Record what happens today and what the business may need during the proposed contract term.
Card present
Counter, table, mobile or unattended payments using a physical terminal.
Online
Website checkout, ecommerce platform, invoices or payment links.
Telephone
Virtual-terminal or other card-not-present payments handled by staff.
Also record contactless demand, tipping, split bills, deposits, recurring payments, refunds, multi-site reporting and whether staff need portable terminals.
Current statement
Translate the charges into plain English
Work through a recent statement line by line. Pricing may be blended into a small number of rates or itemised into interchange, scheme and acquirer charges. Neither presentation is automatically cheaper; the comparison must use the total cost for your own trading pattern.
Total card turnover used for the quote.
Monthly count and average sale value.
Card types and where each payment is taken.
Do not compare percentages alone. A low headline rate can sit alongside per-transaction fees, minimum charges, terminal rental and additional service costs.
Whole cost
Convert every option to a realistic monthly total
Use the same monthly turnover, transaction count and card mix for every provider. Add the fees that apply even when trading is quiet.
Transaction charges + fixed monthly costs + equipment and software + likely exception fees = estimated monthly cost
| Comparison item | What to record |
|---|---|
| Transaction pricing | Record every percentage rate and per-transaction charge by card type and sales channel. |
| Authorisation fees | Check whether each approval attempt carries a separate fixed charge. |
| Minimum monthly charge | Record any minimum service charge that applies when processing fees fall below a threshold. |
| Terminal and EPOS | Add rental, purchase, software, licence, support and replacement-equipment costs. |
| Online payments | Include gateway, virtual-terminal, payment-link and ecommerce platform charges. |
| Compliance | Record PCI programme, non-compliance and related administration charges. |
| Exceptions | Check refund, chargeback, retrieval, failed-payment and manual-entry fees. |
| Leaving or changing | Include early termination, notice, collection and equipment-return costs. |
VAT treatment can differ between charges. Check whether each quoted figure includes or excludes VAT and compare on one consistent basis.
Equipment and EPOS
Choose the operating setup—not just a terminal
A card terminal takes payment; an EPOS system may also manage products, staff, stock, receipts and reporting. Decide which functions are essential before accepting a bundled package.
Integration
Confirm whether payments, till totals, stock and accounts exchange data reliably.
Reporting
Check whether reports show the sales, VAT, products, staff and sites you need.
Ownership
Ask who owns the hardware, data and licences, and what happens if you leave.
Check broadband, Wi-Fi and mobile-network requirements, offline behaviour, receipt printing, accessories, installation, staff training and replacement times for failed equipment.
Settlement, support and risk
Understand what happens after the customer pays
Fast acceptance at the till is only part of the service. Confirm when cleared funds reach the bank account and what could delay, reserve or reverse a payment.
When will funds be settled?
Record the normal settlement timetable, cut-off times, weekends, bank holidays and any charge for faster settlement.
What happens when a payment is disputed?
Check chargeback notifications, evidence deadlines, administration charges and support. Card-not-present transactions can carry greater dispute and fraud exposure.
Can funds be withheld?
Read the provisions covering reserves, delayed settlement, unusual trading and changes in risk profile.
Who provides support?
Check service hours, response routes, replacement-terminal times and whether terminal, gateway and EPOS issues have separate support teams.
What are the PCI DSS responsibilities?
Confirm the validation route, assistance available and all compliance or non-compliance charges. PCI DSS v4.0.1 is the current supported standard.
Commitment
Pause before accepting the agreement
Card acquiring, terminal hire, gateway and EPOS software can be separate agreements with different dates. Check every document before signing or accepting verbally.
- The quote uses your real turnover, transaction count and card mix.
- You can explain the total monthly cost—not only the headline rate.
- Terminal, EPOS, gateway and connectivity requirements are confirmed.
- Settlement timing and any reserve or withholding provisions are clear.
- The PCI DSS responsibilities and all related charges are understood.
- Refund, chargeback and card-not-present rules have been checked.
- The contract term, renewal process, notice and exit charges are clear.
- You have retained the quote, summary, full terms and acceptance record.
Consumer card surcharges are generally prohibited. Do not assume that a processing cost can simply be added to a customer's bill; use the current GOV.UK guidance for the transaction concerned.
Prefer some help?
SME Sorted can review the options with you.
Share a recent merchant statement and describe how customers pay. SME Sorted can help you understand the charges and present suitable options where available. The review is free and there is no obligation to proceed.
Nothing changes without your agreement. SME Sorted may receive a commission from a provider if you choose to proceed.
Useful official information
- Payment Systems Regulator: card-acquiring market review and remedies
- PCI Security Standards Council: PCI DSS document library
- GOV.UK: payment-surcharge guidance for businesses
- Financial Ombudsman Service: small-business banking and payment complaints
This guide provides general information, not legal, financial, security or payment-services advice. Pricing, acceptance, settlement and contract terms depend on the business, sales channels, risk assessment and provider.