myPOS card machines </b with flexible business account
myPOS is a European payment company that sells card machines with a whole range of extras. This includes an online business account with accompanying prepaid Visa card, online payments and the ability to use the card machine across Europe.
There’s no lock-in contract or ordinarily a monthly fee. That said, a couple of inactivity fees amounting to £45 monthly kick in after 10 months of no transactions, so you do have to cancel the account by then to avoid those charges.
myPOS sells a choice of card machines to meet the needs of any merchant. They all come with a built-in SIM card connecting with the local mobile network anywhere in the UK and EEA to process chip, swipe and contactless card payments.
The lowest-cost option is myPOS Go, which is in fact the cheapest standalone card reader in the UK. The latest version (myPOS Go 2) looks simple, but it exceeds even SumUp in its ability to accept preauthorisation payments and sell mobile top-ups. If you get the bundle that includes a charging and printing dock (£179 + VAT), you can print receipts too. It does not, however, work with WiFi.
myPOS Pro (top) and myPOS Go 2 (bottom) are independent terminals that include a debit card.
myPOS Pro, on the other hand, works with WiFi and network connections like 4G. Featuring all-day battery power and a large touchscreen, its selection of optional apps elevates it from a simple card machine to portable POS system. It comes with a built-in receipt printer too.
Transaction fees are 1.1% + 7p for domestic or EEA consumer Visa or Mastercard cards, 2.45% + 7p for Amex and 2.85% + 7p for all other debit and credit cards.
Transactions settle automatically in the complimentary business account, whereafter you can manually transfer (or schedule) funds to your bank account for £1.50 per payout. Other charges apply to certain account activities like cross-border transfers and chargebacks.
myPOS’s sign-up process is a bit longer than other pay-as-you-go services, as you’ll need to submit documentation and complete a video identification call. When ordering a card machine, myPOS also adds a £6 shipping charge.