Fintecture, the instant transfer payment solution


How to choose a payment terminal?

The way we pay on a daily basis is changing. 

The immediate transfer is one of these changes.

In shops, payment by bank card with a payment terminal is more than ever the norm. Traditionally, only banks and their partners have equipped retailers. Now a multitude of new players are offering in-store payment solutions to retailers.

So how do you choose the right provider to reduce the costs of accepting credit cards without missing a sale? 

There is no single answer, it depends on your situation and your needs.


Micro-enterprises and self-employed

If you have just started your company and only have a one-off need to accept bank cards, the most effective way is to turn to new players such as SumUp and Zettle. These are the two big leaders in the category.

The business model of these actors is adapted to very small businesses. 

The merchant buys the EFTPOS terminal for only about 10 euros and then does not have to pay any subscription or other fixed costs. Commissions are charged only when the merchant collects. The commissions, on average 1.75%, are quite expensive compared to those offered by the banks and quickly become too high if the business turnover becomes significant.

In addition to payment terminals, these companies offer a range of very well thought-out services for small businesses: e-commerce solutions, cash register software, etc.

Local shops (restaurants, boutiques, etc.)

If you are opening a shop, restaurant or any other traditional business that regularly collects credit cards, you have two main options: the banks' terminal offering or the modern Yavin alternative.

The model offered by the banks is generally the rental of classic payment terminals (Ingenico or Vérifone ) and the creation of a merchant contract (with rather competitive commissions). Rental is generally charged at between €19 and €39 per month and commissions vary according to the type of cards accepted. European cards are charged at less than 1%. These offers are often accompanied by a commitment of several years.

Modern alternatives such as Yavin Paiement have emerged offering more value to merchants. These commitment-free offers are based on the new generation of Android payment terminals. The 4G/Wifi terminals are faster and in addition to payment, many services are offered on the terminal (tips, 3X payment, deposit taking, customer reviews).

Major international chains

The major retailers are increasingly turning to new players capable of meeting their more specific needs.

Adyen, for example, has been very successful in offering omnichannel, multi-country and multi-currency solutions to large merchants operating online and in-store in many countries. Many European players such as Worldline and Hipay are also addressing this market.

List your needs to better choose

Before choosing your payment partner, list your needs in order to check that they will be able to support you effectively over the long term.
For example, a restaurant must be able to accept dematerialised restaurant vouchers (Swile, Conecs, etc. ), an e-merchant will need an omnichannel solution, and a car rental company or hotel will certainly need to take deposits.

By asking yourself these questions, you should be able to choose the right provider and focus on the most important thing, the relationship with your customers.

Payment by bank card at a payment terminal is still the norm, but as a merchant it is in your interest to try out transfer solutions that will allow you to save on commission and facilitate large payments, which are sometimes restricted by card limits.

The economic alternative

Mobile terminals open the way for the acceptance of new payment methods, in particular with its QR code reader. A few months ago, we released our solution : payment requestIt allows merchants, e-merchants, craftsmen and self-employed people to offer a fluid payment experience thanks to the immediate transfer. No need to have a website or a payment terminal to collect as quickly and economically as online merchants.

As fast as a bank card and more intuitive than a traditional bank transfer, the merchant only needs to enter the amount and the reference of the order and generate the QR code for the customer to scan. For their part, customers must choose their bank, connect to it with their usual identifiers and then validate the transaction.

Simple, fast and secure, our solution adapts to everyone!