Teya for local businesses, with simplified custom fees
Previously SaltPay, Teya was launched last year in the UK as a simplified card machine solution for small-to-medium businesses.
It is particularly good for companies with a physical local presence, such as corner shops, cafês, barbers, dry cleaners and independent retailers, because you also get some useful extras to boost the online presence so new customers can find you.
The card machine is a PAX A920Pro smart POS terminal with a large touchscreen and receipt printer, a step up from the original PAX A920. It comes with a white desktop holder and lime-coloured silicone casing to protect it from wear and tear. Its complimentary SIM card with unlimited free data enables you to use it straight out of the box, though WiFi can be set up too.
The payment app on the terminal is quite basic, allowing you to enter a transaction amount, add a transaction reference (if relevant) and proceed to accept a chip and PIN card or contactless payment. Some additional functions can be switched on, like tipping, Dynamic Currency Conversion or preauthorisations if you’re a hotel.
The card machine works on its own or integrated with certain POS systems. If more point of sale features are needed, it’s possible to download the Loyverse POS app on the terminal for a free, portable checkout with a product library.
There’s no direct integration with accounting software, only some basic end-of-day reports and exports of card sales.
When we received the card terminal for testing, it was extremely easy to set up. The long-lasting battery comes fully charged and the terminal has clear, simple instructions so it only takes minutes to accept the first card. Teya also likes to meet its merchants in person for onboarding, so the service is good from the start.
Teya offers three terminal rental plans: Monthly for £20 + VAT per month, Annual for £15 + VAT per month and Custom with no monthly fee. Only the annual plan has a 12-month contract – the other two require no commitment.
The lease plan Pay Once charges £99 (or £225 when not on offer) + VAT upfront and no monthly fees. This gives you a terminal lease of 3 years, though you can leave Teya and return the terminal any time.
In fact, no 30- or 60-day termination notice is required on any of Teya’s plans, as seen with other merchant service providers. You just request cancellation, and the contract ends the same day. On the annual plan, you only pay the remaining monthly charges to end it within a year, and other plans cost nothing to cancel.
Merchants typically get a fixed transaction fee for all Visa and Mastercard transactions and higher rate for Amex and Diners Club on most plans. These fees cover PCI-DSS compliance, chargebacks and everything else traditional providers tend to charge extra for. The chip and tap rates even apply to payment links sent from the terminal.
Transactions settle in your bank account the next working day morning, or in the free Teya Business Account with a debit card and 0.5% cash-back on card transactions.
The main downside of Teya is probably its limited support hours, which so far only covers weekday daytime hours, not weekends or evenings. If a terminal breaks down, however, a new one is sent free for the next working day.