The way we pay on a daily basis is changing.
The Immediate Transfer is one of these upheavals.
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've just launched your company and only have a one-off need to accept bank cards, the most effective solution is certainly to turn to new players like SumUp and Zettle. They're the 2 big leaders in this 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're opening a store, restaurant or other traditional business that regularly cashes bankcards, you can choose between 2 main options: the banks' terminal offering or the modern Yavin alternative.
The model offered by banks is generally the rental of classic payment terminals (Ingenico or Vérifone) and the creation of a merchant contract (with rather competitive commissions). Rental generally costs 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 often come with a multi-year commitment.
Modern alternatives such as Yavin Paiement have emerged, offering greater 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, they offer a wide range of services (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, make a list of your needs to ensure that he or she will be able to support you effectively over the long term.
For example, a restaurant needs to be able to accept dematerialized restaurant vouchers (Swile, Conecs...), 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 are paving the way for the acceptance of new payment methods, notably with QR code readers. A few months ago, we launched our : Demande de PaiementIt enables merchants, e-merchants, craftsmen and self-employed workers to offer a seamless payment experience thanks to the Immediate Transfer. In fact, you don't even need a website or a payment terminal to collect as quickly and cost-effectively as online merchants.
As fast as a credit card, and more intuitive than a conventional bank transfer, all the merchant has to do is enter the order amount and reference number, and generate the QR code for the customer to scan. The customer then selects his or her bank, logs in with his or her usual login and password, and validates the transaction.
Simple, fast and secure, our solution adapts to everyone!
