All posts by RBMCS

Ready for any payment

sum-up-terminalFar be it from me to make fun of those less fortunate than ourselves but here we seem to have someone who has really taken card payments to a new level. Be ready for any payment because you never know when its going to be your last!

Click on the picture to order your mobile no contract terminal now, or click here. Be ready for any payment.

Look, this guy is fully mobile and ready for any payment in whatever form is available to him.

So stop marching your customers to a cash point, its prehistoric! Yes everybody loves cash but increasingly the world is turning to electronic payments, mobile payments and flexible payment services. This guy in the video probably raises more cash for his family by adding this service to his portfolio and hey, he may have just washed this ladies windows and may not be a beggar… First impressions and all that.

You’ve got to admire this guy, he has really invested in his business future. He knows not everyone carries cash… call for more details or click on sum up link below for a fully mobile, flexible and no contract terminal for a lot less than you think.

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The Sum Up terminal has the following feature and is probable cheaper to run than the one the guy in the video has!

  1. no contract
  2. low 1.95% fee on all transactions
  3. no standing charges
  4. free delivery
  5. free phone app add payments and run reports
  6. Pay As You Go
  7. joins your mobile device via bluetooth
  8. looks great
  9. fits in your pocket

Just click on the link above to order yours, no need for a long and painful application for a merchant id just order and get yours asap. Its ideal if you are a mobile installer, beauty therapist, plumber, electrician, shop, cafe or just someone who needs payment for services completed.

Be ready for any payment, call now for details or just click on the link to order yours now. 07796242029

Card Processing Rates

Card Processing Rates are the most important item on your merchant statement. The terminal rental means nothing by comparison!

Card processing rates are the most important thing to keep your eye on if your card payments turnover is high. You should switch this regularly, or at least each time your contract is up for grabs. email richard@rbmcs.co.uk or call 07796242029 to switch now.

Here I will show you how to identify your rates and apply any new rates offered by a new supplier. Each of the different card types will be itemized in a section on your bill.

Example – AJ’s News in Stafford Card Payments

Look for % rate – look for penny rate per transaction and on top of this, an authorization fee per transaction on top if applicable. For example,  ‘Visa Debit’ transactions x1054 – £10,149 rate 1.2% + 1p + 5p authorization charge.

This means that £10,149 will be charged @ 1.2% and added to this there will be 1054 pennies added. Some charge a penny rate, some don’t and some only charge a penny rate. ie 15.5p per transactions.

So if a % and penny transaction rate this would be the following calculation 10,149/100 *1.2= £121.78 + the pennies x 1054 =£10.54 + the Auth Fee 5p x 1054 = £52.70p

Grand Total for this kind of card = £185.02 in processing fees.

This will be the same calculation for any of the different cards but can be a result of % Penny & Auth fee depending upon which card processing rates are applied or not. Some apply all, some apply some and others apply only one. (contactless payments do not trigger an auth fee)

Each card has a different transaction rate . When you apply your new rates to compare what it could be, you must make sure you know exactly which transaction rates the new company will be applying.

If the new rate is thus. 0.5% of card turnover 0 penny on debit and 3.85p auth the grand total would have been 50.74+0+40.58=£91.32

So now you see that the processing rate is much more important than the standing charges for terminal lease etc.

This rate change would amount to £93.70p per month saving, £1,124.40p per year and a wopping 49.3% saving.

Now try working out your bill and try using the following example of rates.

Debit Card – 0.39% + 1p

Credit Card – 0.89%

Auth Fee – 3.85p

Oh and remember if the transaction is ‘contactless‘ you are not charged the auth fee. How about that for a bonus discount to add on or I should say subtract!?

Alternatively you can use our ‘compare my statement‘ service today and check out those rates above. email richard@rbmcs.co.uk or call 07796242029, there is still room for negotiation.

You may not be advantage of our low transaction rates offered by our terminal or payment facility.

Imagine if you took out the popular internet payment terminal with no terminal rental standing charges for your payments. Imagine even with no terminal rental how much more expensive it will be if they are charging you in excess of 2.75% per transaction!!!

Card processing rates are really the most important part of your bill, unless of course you bill £5 a month for a total of 2 transactions.

How Do I Accept Card Payments

Accept card payments

We can help you set up a merchant account and choose a payment method for your business. Just ask us and we will hook you up. email richard@rbmcs.co.uk to apply for a merchant id, payment method and account today. Call or text on 07796242029.

I will give you a quick run down on how it works, what you need and what it may cost. (also see article on contract vs non contract terminals case study on mobile card payments)

You will require 3 basics things depending on what type of business or types of payments you receive.

  1.  a merchant id
  2.  a terminal, payment machine or gateway
  3.  a bank account
Merchant ID

Its pretty simple really. What you will need is a merchant ID, which is basically like a bank account number. This is to enable the bank who processes your card payments to identify you and charge in order to accept card payments.

Terminal, Machine or Gateway

This is basically the way in which you will take a payment either with a chip and pin terminal, an automatic payment machine or a payment gateway. This will act as a portal or method to accept card payments. You can choose which is ideal for your business with a bit of help from Richard here @ RBMCS.

Bank Account

Well when you get paid by someones card you need your own bank account to accept card payments processed by the merchant bank.

The merchant bank recognizes the payment through your merchant ID on your terminal for example, processes it and then pays you. Job done, services rendered, goods sold and hey presto, you are paid.

Costs

A typical account set up for a small store for example may require the following.

  1. Chip & Pin Terminal Lease
  2. PCI management fees
  3. Debit and credit card transaction processing rates
The first 2 can be as little as £5 per week to start taking payments.

The processing rates are added onto the bill every month, so as long as you get the best rates out there, it doesn’t matter what your standing charges are.

All of the small no contract terminals out there will cost you much more in processing rates, than not paying for a lease. Their transaction rates are really expensive. They are only cost effective if your card turnover is really low.

How do I accept card payments? Call Richard on 07796242029 or email richard@rbmcs.co.uk for more details and to apply today.

How Card Payments Work

How card payments work? Well before I joined the industry this was a mystery to me too!

Here I will explain in the simplest terms ‘how card payments work’. This will make the decision easier to accept card payments if you understand the process and why you are charged.

Call Richard on 07796242029 or email richard@rbmcs.co.uk to hook up card payments now.

So how do card payments work? Here we go, lets talk about it in 10 steps.
  1.  Customer approaches you with a payment card
  2.  You accept payment with a payment gateway of some description that identifies you with a merchant i.d. for example a chip & pin terminal.
  3. This gateway securely sends the details of the transaction and individuals card details to a merchant bank.
  4. The merchant bank recognizes the card, the individual customer and its own bank.
  5. It then process the transaction and adds a small amount of money to the transaction for doing the processing work which it will charge you.
  6. This money for goods and services is then sent to your bank account, job done, paid.
  7. The customer is charged for the goods or services, no more. You are charged the small amount of money the merchant bank added to the transaction for its trouble.
  8. At the end of the month you are charged by the merchant bank.  All of those small amounts that have amounted over all the payments on card you accepted that month.
  9. The merchant bank account does not need to be the same bank you bank with. In fact there can be no benefit from keeping it all in one place!
  10. Card processing rates and standing charges to merchant monthly account statements differ vastly so just like your electricity supplier, you should switch to save money whenever you can. Compare your statement by contacting us now.

The question, how card payments work can be complicated with lots of things added and other jargon dropped in to confuse you. At RBMCS we look to cut through all the fat, lean down your bill and make the world a more profitable place.

Mobile Card Payments

Mobile card payment terminals no contract vs. contract?

take mobile card payments on the move

Mobile card payments are a superb way to develop your business. No matter whether you are a business with staff out on the road or a one person outfit. Take payments quickly and easily without marching your happy customer to a cash point. But think carefully about what you are paying. Processing rates can be extortionate if you don’t make a sound business decision.

Mobile Card Payments = Job done – get paid, read for more details or call Richard free now on 07796242029 or email richard@rbmcs.co.uk

No Contract vs. Contract = 41% saving with a contract (see workings out below*)

Don’t wait for an invoice to be paid and you can forget the days when you returned home waiting for a bank transfer to arrive and nothing comes for a week! People can still pay cash but for those who don’t this is the reality. Get your mobile payment terminal now, already equipped with a roaming sim card and no call charges to process payments.

Mobile card payments are ideal payment facilities for the following.

  • mobile hairdresser
  • car tyre fitter
  • mobile mechanic
  • plumber
  • electrician
  • installer
  • window cleaner
  • handy man
  • cleaner
  • same day courier
  • roadside cafe

If your turnover out in the field is more than £2-3000 per month one of the popular ‘no contract’ payment terminals that plug into your phone or an ‘app gateway’ become too expensive.

Yes your right, there are no standing charges but the % percentage rate will more than double and even treble a traditional card terminal rental in its high percentage rates alone.

Card transaction rates north of 2.5% from these no contract facilities will begin to ramp up and the perceived convenience is no longer its unique selling point. Mobile card payments offer an alternative to these rates when you rent a terminal. See below for a simple comparison.

For example lets say you turnover £3000 at an average of £50 per transaction = 60 transactions.

Phone payment plug in or app @ 2.65% – £3000 turnover = £79.50 in processing charges. Simple and convenient with no contract and no terminal rental, or is it.

*Compare this to a mobile payment terminal with a contract.

Rental – £23 + card processing charges (debit card + 1p per transaction) @ .7% = £21 + auth fee 0.0385p x 60 transactions = £2.31p (plus 60p if debit card, so on that month you would have been charged £46.91p at the most!

No Contract – £79.50p

Contract – £46.91p

Saving – 41% saving. (what are you waiting for)

This is £32.59 saved every month which is £391.08p per year!!! By not entering into a contract this is what you are losing every month just because the simpler version looks more attractive. If your turnover is higher the savings are higher.

I’ve used this as a worst case scenario because in actual fact our debit card rate can go much lower than .7% and if it is a contactless payment you are not charged the authorization fee either. The saving can be jaw dropping over the most popular no contract payment facilities. The one we all know who im talking about and everybody uses actually charge more than 2.65%.

So what are you waiting for email me richard@rbmcs.co.uk today to compare your actual bill or just order one of our terminals. The higher the turn over the greater the savings.

*(these figures are real savings and are worked out using a real business to end user scenario for consumer debit and credit card payments which amount to more than 98% of B2C card payments for small business – I’ll prove it on your bill)

Card Payments in Birmingham

Accept Card Payments Today

Whether you are a new or established business and you want to accept card payments in Birmingham or the Midlands, we are here to help.

Call or Email us now for more details 07796242029 –  richard@rbmcs.co.uk

Maybe you need to take card payments over the phone. You may take payments over the counter, maybe whilst your out and about. We have the solution for your business.

Receive the same fantastic low rates as big corporate companies. If you are already taking card payments you should consider a comparison.

Furthermore we design a tariff that is most appropriate for your business. We take into account the type of business you are and the kind of cards you will take payments from.

We can answer all of your questions. Alternatively once each article is complete on our blog you will also be able to click one of the links below.

These will also provide you with a more detailed answer to some of your questions.

If you want to accept card payments in Birmingham and need to develop your business sales, then provide a convenient way for your customers to pay. Don’t send them over the road to a cash point because they may not return to your business again.

RBMCS is in easy commutable  distance from Birmingham, Coventry, Leicester, Wolverhampton, Walsall, Cannock, Burton on Trent, Uttoxeter, Rugeley and Stafford.

Give us a call today, we are based in Lichfield and are more than happy to provide a free and easy no hassle consultation.

You can contact Richard on 07796242029.

For your own personal card payment service call RBMCS today.

Welcome to RBMCS

Hello and welcome to our new website and blog on card payments for business.

Here we hope to inform and educate you on card payments for business.

We want to include news, diaries of day to day business activities and media content to compliment our services. If you need a person to person chat then contact us.

Any questions about the industry will eventually be answered, so feel free to get involved and suggest some stuff to cover. If you have any questions, ‘just ask us’ is our motto, so we hope to accommodate.

All of these keywords will be covered!

And much, much more…