Benefits of paying upfront for your card machine

Whether you are setting up a new enterprise or working on a strategy to grow your existing business, if you accept card payments, you can save money and time by paying for your card machine upfront.

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Benefits of paying upfront for your card machine

22 May 2022

card machines

Whether you are setting up a new enterprise or working on a strategy to grow your existing business, if you accept card payments, you can save money and time by paying for your card machine upfront.

Let’s find out more about the benefits, as well as how to make sure you’re choosing the right kind of machine for your business.


What are the benefits of paying upfront for your card machine? 


  • Save money, by paying £299.95 +VAT upfront you save more than £200 +VAT on the cost of paying monthly over 36 months.  

  • Peace of mind knowing that the cost of your card machine is covered. 

  • You don’t need to worry about paying monthly fees ever again.

  • Get the Verifone V240M card terminal,  the most robust and reliable hardware available. 
  • No need to sign up for a lengthy contract.  

  • You can pause or cancel anytime. 

  • Your machine is covered should you damage it accidentally.

Paying upfront for your card machine 


With our Pay Once plan, you can say goodbye to card machine rental fees forever. You pay a one-off fee of £299.95 +VAT, and that covers the cost of your card machine for as long as you stay with us. 


Meanwhile, you can accept all the payment methods your customers trust using the best in card machine technology, with the Verifone V240m. You won’t be tied into a contract, and there are no cancellation fees. The card machine remains the property of the company so if you decide to switch providers at any point, the card machine will need to be returned.  


Man taking payment with card machine small.jpg

What should small business owners consider when looking for a payments provider? 


To process card payments, you will need a merchant account, and choosing the right provider is crucial. A payment service provider (PSP) can help any business to process and manage the acceptance of a wide range of payment options. It’s their job to make sure a transaction is safely and securely completed; from the moment the customer pays to the point at which the money lands in your merchant bank account.  


In a recent article, we outlined the importance of choosing the right payment services provider for your business. When you are exploring your options for taking card payments, you will want to choose a card machine and contract that is the best fit for your business. Each provider will take you through a series of questions that will help them to ascertain which of their products or services will suit your business best, but it is not always easy to make direct comparisons between providers.  


What should small business owners consider when looking for a card machine? 


Before you can decide which payment provider to choose, you will need to be confident that the products and services they are able to offer fit well with your business needs. For example, if you need a card machine that can take card payments in different locations or can be moved around, there is a higher chance that it could be dropped and damaged.

Your wifi connectivity will have an impact on which card machine you use, and in environments where grease or chemicals are present, your card machine is likely to be susceptible to getting keys clogged up or stuck.   

Before you search for the best card machine deal for your small business, make sure you have the following information to hand.  


  • FULL contact details 
  • Industry sector 
  • Location/s  
  • Type of business 
  • Anticipated annual turnover 
  • Anticipated annual card turnover 
  • Anticipated average transaction value 
  • Need for phone payments 
  • Online payment facility 
  • Type of terminal required (fixed or portable) 
  • Number of terminals required 
  • Length of time in business
  • Number of card payments currently being processed
  • Details of current provider including your terms
  • Bill amount last month or last months statement
  • Number of transactions
  • Value of transactions


Having this information at hand will give potential providers a good indication about which of their products and services will suit you and your business best, ensuring that you get the best deal. 


How do contracts for card machine payments work? 


Card machine contracts can vary in length, but to get the best deals you should be prepared to sign a 3-year contract, which is why it is important to get it right. During your contract, you can expect to pay the following fees, depending on your provider, and it is worth asking potential providers about each of these.  


  1. Card machine monthly rental fee of between £15 and £30 per month.  
  2. Merchant service fees for each transaction, depending on the type of card.
  3. Transaction fees for each payment, depending on type of card. 
  4.  Batching fees – around 30 pence per day. 
  5. PCI Compliance fee of around £3 per month, to avoid non-compliance charges. 
  6. Fees for additional services like faster payments, a payment gateway, or a virtual terminal. 


Please be advised these fees may vary depending on providers, and all fees quoted are subject to VAT. 


If you want to switch providers before the end of your current contract, you are expected to continue to pay the fees for the duration of the contract, meaning it can be costly to terminate your contract early.  

See this article for detailed information about who is involved in the card payment process, and for a better understanding of the steps involved.  


Are you ready to start taking card payments with a card machine that you pay for upfront? 


Whether you’re looking to take your first ever payment or you are switching from another provider, paying upfront for your card machine can be a good way to save money, avoid lengthy contracts, and get the most reliable technology available.

Having the freedom to pause or cancel whenever you want to appeals to small or seasonal businesses. We’re experts in small business payments, and typically small businesses save up to 30% on processing fees when they choose RMS. 

If you are interested in exploring whether paying upfront for your card machine is a viable option for your business, we can help. And remember, RMS have years of experience helping small businesses flourish financially. Make sure to get in touch if you have any further questions.

If you feel like you could do with more guidance, be sure to reach out to a member of the RMS team who will be able to give you all the information you need.