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Credit Card Acceptors


bil10219

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Is it possible to retrofit old DN/368's or DN/501's with Credit Card Acceptors? What do they cost and is it worth the investment? Who do you deal with at the bank/credit card companies?

Thanks in advance for your input.

Bill

Oh, and I forgot to ask the same info for smart phone credits in the machine?

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I watched the coke tech install one at work and I was asking questions as how expensive it was, he just told very pricey! He also said that the sales almost double with the card acceptor!

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The transaction fees are the thing that is hurting the card readers the most. A closed circuit card is more practical but you will need about 400 customers to make that a profitable venture.

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I believe the transaction fee is in the 6% range.

If the one have has a S2 or S2D board the equipment is a few hundred.

I have not seen a single price kit but the kit for a dumb mach machine with coin mech and BA is about $1200.00.

Walta

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That is an add on feature for my combo machines. The hardware costs about $500. I wanted it for the remote monitoring capability. Do you have to go with USA technologies or could a solution be developed(I mean that in the literal sense if there is not one currently available) that would use paypal?

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USATech charges you a monthly access fee for each creditcard reader ($6.95/month) plus 5 - 5.9% for each creditcard sale. Equipment will run you about $400.

Creditcard enable machines will usually do better if the average price is $1 or more.

Monthly charges are taken out of your funds at the beginning of each month.....and the 5 - 5.9% is taken out each week.

They send you your credit sales each week (usually on Friday) as long as one of your machines have done at least $25 in credit sales. If not, they hold your funds until you have reached the $25 mark.

Travis

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  • 4 months later...

It depends on the sales volume and average transaction cost. If I take into account the monthly monitoring expense I'm probably averaging about 8-10 cents per transaction

Hi Mission,

Could you please give me a detailed breakdown of your costs per transaction as I am just wanting to compare with what you guys are paying to what it costs here as I am looking into the option of using credit cards but the cost seems to be a bit on the high side.

I have been quoted NZ$895 for the credit card reader plus an additional NZ$100 set up cost. Also would have to pay NZ$15 per month service fee for using the gateway which included 100 free transactions with each additional transaction over that charged at NZ$0.15 & the Merchant fee's are 3.5-4.5% on turnover so to give you an example:

If I was to sell a 355ml can of coke for NZ$1.50 I would pay..

NZ$0.15 (transaction) NZ$0.06 (merchant fee) which is 14% per transation

Using the reader would mean that I would also be able to stream DEX constantly but would need to use a software program to decipher the DEX which is another NZ$16.25 per month..

There is only one company that offer credit card here at the moment so I feel that I am screwed anyway!

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Thanks Travis,

I should of read down the page further as I see you had already explained it in your previous post. I will try not to jump the gun next time & read all posts before I ask a question that's already been answered.

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USATech generally charges 5% transaction fee (or .05 cents per transaction, which ever is more). Additionally, they charge a monthly access fee for each terminal at $8.99 which covers the cellular service for the connection.

The readers are about $250 each.

Travis

I would only add that if you want to collect DEX info then you will pay $4 or so a month more

Thanks Travis,

I should of read down the page further as I see you had already explained it in your previous post. I will try not to jump the gun next time & read all posts before I ask a question that's already been answered.

No need for apologies, we have all done it at sometime before.

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I use InOne Technology for my credit card and remote monitoring. I think the initial cost is around $350 for the card reader and telemetry device. The monthly fee is $11.99 per machine and %5.95 transaction fees. I have some machines that sales have increased by almost %50 and other machines that I have only seen a slight increase. We have watched our sales steadily decline over the last 2 years until we put in card readers this year, now we are seeing a steady increase in sales. Our cash sales this year have been almost identical to our cash sales last year, but we are averaging $10-12,000 a month in credit card sales with 70 machines with card readers. I just installed another 30 this month so we now have 100 machines accepting cards. If the card reader only brings you 2 - 3 additional transactions per day then it is paying for itself. I have been using Telemetry for 2 years and cashless for 1 year now. I decided to go with InOne because when I was looking at telemetry, USA Technologies told me that they could send me the dex file, but I would get no alerts or other benefits of remote monitoring from them. I think USA Technologies is now doing more with remoted monitoring and alerts. Some of the best information I get with my remote monitoring is Temperature readings, I can get a text if my frozen machines temperature goes above a certain limit, and then it will text me again when the temperature is back down to where it should be. I have already saved $2,000 - $3,000 in product in the last 2 years, just because I know know when a machine loses power or the temperature is to high. I think with both InOne and USA Technologies, they both give you the option of two tiered pricing, allowing you to charge more for credit card transactions, and I think both also give you the option to lease the equipment rather than buy it, and I think its only an extra $3-4 per month to lease the equipment. I hope this information helps.

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I think with both InOne and USA Technologies, they both give you the option of two tiered pricing, allowing you to charge more for credit card transactions, and I think both also give you the option to lease the equipment rather than buy it, and I think its only an extra $3-4 per month to lease the equipment. I hope this information helps.

Hi wheelermj,

Thanks for all the info.. I never realized you could have the option of using two tiered pricing so that you can charge more for a credit card purchase. Do you use this option yourself on some sites & how would you advertise this to your customers to stop any confusion?

I like the look of the inOne Technology (Arrow Vision) remote monitoring especially the temperature monitoring, I have a few Frozen Food/Ice Cream Machines also & hate turning up to a machine to find everything melted $$$ & a big mess to clean up.

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Hi wheelermj,

Thanks for all the info.. I never realized you could have the option of using two tiered pricing so that you can charge more for a credit card purchase. Do you use this option yourself on some sites & how would you advertise this to your customers to stop any confusion?

I like the look of the inOne Technology (Arrow Vision) remote monitoring especially the temperature monitoring, I have a few Frozen Food/Ice Cream Machines also & hate turning up to a machine to find everything melted $$$ & a big mess to clean up.

I don't use two tiered pricing, and my sales have increased so much with credit cards, that I am still making more profit now even with credit card fees then I was before we were accepting credit cards. Out of 135 machines I am selling on average 250+ more items a day than I was at the same time and the same machines last year. We started installing card readers in January and just finished last week, so we have 100 machines accepting credit cards. We don't accept cards in canned soda machines, but the rest of our machines have card readers.

To use the temperature monitoring, you have to install an additional temperature sensor in the machine, the cost is around $30 for the sensor. But since I installed the sensor in the machines, the only machines I have lost product in have been due to me not being able to get into a building after hours or on a weekend to fix the machine.

InOne Technology is really just the North American Distributor for the technology. The devices are made by a company called NayaxVend and distributed globally by NayaxVend. I know there are some vendors on this forum that are from other countries, so maybe this can help them also.

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InOne Technology is really just the North American Distributor for the technology. The devices are made by a company called NayaxVend and distributed globally by NayaxVend. I know there are some vendors on this forum that are from other countries, so maybe this can help them also.

I thought inOne Technology had broken away from Nayax since Coinco (ArrowVision) took them over but according to the NayaxVend website you are correct as NayaxVend still lists inOne as their USA Headquarters.

Don't here people referring to NayaxVend on TVF as I guess it is more well known as inOne in the states. I think it is also referred to as VendMate (UK) VendCheck (AUS) so it definitely is worldwide. The only thing I don't like about Nayax is that all your information is processed thru Nayax's servers in Israel but they may do it differently in the US.

Just wanted to know which model Credit Card Readers you are using. We can't use strip readers here anymore as we have to use Smart Card Readers to comply with our new security standards. I have herd Australia have changed there security standards also & was wondering if the USA were also going in this direction?

I should say that you can still use a strip readers here but you would also need to put in a keypad so that people can enter there PIN number.

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I thought inOne Technology had broken away from Nayax since Coinco (ArrowVision) took them over but according to the NayaxVend website you are correct as NayaxVend still lists inOne as their USA Headquarters.

Don't here people referring to NayaxVend on TVF as I guess it is more well known as inOne in the states. I think it is also referred to as VendMate (UK) VendCheck (AUS) so it definitely is worldwide. The only thing I don't like about Nayax is that all your information is processed thru Nayax's servers in Israel but they may do it differently in the US.

Just wanted to know which model Credit Card Readers you are using. We can't use strip readers here anymore as we have to use Smart Card Readers to comply with our new security standards. I have herd Australia have changed there security standards also & was wondering if the USA were also going in this direction?

I should say that you can still use a strip readers here but you would also need to put in a keypad so that people can enter there PIN number.

I was with InOne before Coinco bought them, and nothing has changed other than all the products say Coinco, and I think InOne is busier now. I usually deal with Greg Hasslinger, the VP, and he can be really hard to get a hold of since Coinco bought them. I think they are just growing so fast that he is spread a little thin.

I am using mostly the smart card readers because they are PCI-DSS compliant, but I also have some of the standard card readers, and Coinco all in one card reader bill validator, and they are all PCI compliant, the smart reader just has a higher level of compliance. I don't like the Coinco all in one readers because I had several customers trying to put their cards where the bill goes and it even sucked up a few cards that I had to go retrieve from the machine. All of the card transactions are processed through Heartland or Securenet and they have contracts with InOne not Nayax, so I'm not sure how much data is actually transmitted to Israel. Right now we don't have to have a keypad available for Pin numbers, and I really don't think it will come to that. Hope this helps.

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I watched the coke tech install one at work and I was asking questions as how expensive it was, he just told very pricey! He also said that the sales almost double with the card acceptor!

If sales doubled by installing a credit card acceptor, then everyone would be doing it. In fact I just wont a huge account because Coca Cola was unwilling to install credit card acceptors on a 24 hour facility. We use the devices for remote monitoring and thats where we get our benifit out of the devices.

I have some accounts taht use cards over cash after install, but sales didnt increase by more then 15%. The difference is we are replacing cash with credit and that is a good thing for a number of reasons. Credit Card acceptors have no moving parts so there is a less chance for a mechanical failure, were we have only had 1 fail out of over 150 in 3 years. Also, by increasing the credit card sales to over 50%, there is less reason for break ins and theft by employees. I cant wait for the day that credit cards replace cash, but I dont see it happening for another 20+ years. Today these devices are used to secure accounts by people like Coca Cola and most techs have no idea what sales are coming from a particular account.

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