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Frisbie217

Credit Card reader questions

39 posts in this topic

i just bought my first vending machine and where i put it people keep asking about a credit card reader. I have at AP 123A snack shop machine, I was just wondering if anyone knows of a credit card reader that's compatible with my machine 

 

Thanks,

Josh

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That machine is MDB so you can use any card reader you decide to get on it.  The card reader plugs into the logic board directly with the bill validator and coin mech daisy-chained off of it.  USA Technologies is a good choice or Nayax as many are beginning to move to.

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is this everything i need...i'll attach a picture 

IMG_1692.PNG

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Yes, that is the entire kit.  You'll need a second validator knockout on your door to mount it or you'll need to drill 5 holes in the face of the door to mount it on the surface.  In that case you'll need a Varibit to drill one hole 1/2" in size.  Remember to never power the card reader up before the antenna is attached to it or you'll blow it up.

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I don't see the telemeter.

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Is that not it behind the wires?

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That looks like a power adapter to me. 

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2 hours ago, arkhusker said:

That looks like a power adapter to me. 

Agreed. Missing the main component

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That apears to be a eport edge model. If so it is complete. The newer G8,s n G9,s have a separate modem box with the telemetry and they also have the contact less payment logo on card reader.

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ok, so would i have to buy that separate modem box with the telemetry? or is eveyrything pictures all that i need,   is there any used for salem anywhere i found that one on ebay but it's gone

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Just go to USA Technology and get a new one.  It's only about $300 and you'll need to set an account up for it anyway and they are usually the easiest to have an account with.  That way you get a late model with all features.  This is a business where cheapest isn't always the bestest.

Edited by AZVendor
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On 2/25/2017 at 5:14 AM, AZVendor said:

o set an account up for it anyway and they are usually the easiest to have an account with.  That way you get a late mode

Do  you know what the monthly subscription/processing fee %'age structure is like?

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The fees are usually about $9.95 per month and 5-7% of the transaction price.  It depends on the type of purchase arrangement you have with USATech.  Some are leases, some are purchases and the more you buy the better your rates are.

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On ‎5‎/‎6‎/‎2017 at 2:13 AM, Sgolembiewski0903 said:

Do  you know what the monthly subscription/processing fee %'age structure is like?

I pay 9.95 a month for service plus 5.95% of sale.  Pretty standard.  Once you get up over 200 card readers, the rate starts to drop.

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Great advice! DOes anyone on here have any stories about using a Blukey?

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The Blukey is a fancier Payrange that can be interfaced and powered up in more ways than a Payrange.  Read up on it using Google.

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On 5/6/2017 at 5:29 AM, AZVendor said:

The fees are usually about $9.95 per month and 5-7% of the transaction price.  It depends on the type of purchase arrangement you have with USATech.  Some are leases, some are purchases and the more you buy the better your rates are.

We pay 7.95 and 2.3 % 😎 

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7.95 sounds right, but what kind of volume do you need for 2.3%

Sent from my SAMSUNG-SM-G900A using Tapatalk

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On 5/10/2017 at 8:40 PM, PHX1 said:

We pay 7.95 and 2.3 % 😎 

7.95/mo? Is that rental, lease, or just service fees?

Typically rate is based on avg. ticket, not volume. And I'm not buying that you're getting 2.3% on a standard vending machine.

 

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In MD it is $7.99 per machine per month, and 5.95% per vend. So you would have to do about 25 more vends per month to break even.

Sent from my SAMSUNG-SM-G900A using Tapatalk

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What kind of customers are at this location? I would only consider payrange if it's a younger crowd. If the location is primarily older people they will have no interest in downloading apps and paying with their phones. 

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On 5/12/2017 at 2:46 PM, Corvus Corax said:

In MD it is $7.99 per machine per month, and 5.95% per vend. So you would have to do about 25 more vends per month to break even.

Sent from my SAMSUNG-SM-G900A using Tapatalk
 

If you charge the customer a 10 cent convenience fee per vend, that pays the 6% service charge and a portion of the monthly.

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I did some math on this issue.  Eport is structured at $7.95 per month for their service, and 5.95% per transaction.   Using the two-tiered price structure at 10¢ per credit card transaction, it would take 198 credit card purchases, per month, to cover the costs of accepting credit cards.  For those interested in the math, it went like this, BTW, the only assumption that I made was that the average card purchase was $1.00.  198 cards sales x 10¢ = $19.80, minus the transaction fee, ($198 x 0.0595 = $11.78) minus the monthly fee ( $7.95), which looks like, $19.80 - $11.78 - $7.95 = 7¢ profit to help pay for that $250 device.  So in my thinking, a machine would have to do 50 credit card transactions on average per week to pay for itself. 

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Posted (edited)

Wegroup. Your math appears correct, but you have not taken all variables into consideration.  For example, suppose a card reader increases the sales by $10/week. All items are $1. You lose 60 cents from fees and you are left with 9.40 in a week. In 4 weeks, you gain $37.60.  That easily covers all fees and the cost of the reader. 

Edited by AngryChris

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