Credit Card Processing Options

[ExcellentBusinessServices]

Hey all, I just launched my vending business and am shopping around for credit card processing services. I'm aware of Cantaloupe and Nayax but their processing fees seem high to me. What other companies have software compatible with MDB vending machines, like Dixie Narco 501e and AP 431? Is there anything else a new guy needs to know about credit card processing? 

Thanks for your time and feedback. I am very grateful to be a part of this community!

[AZVendor]

Their processing fees aren't out of line.  Suck it up and pay whomever gives you the service you want.  PS: All machines that have card readers must run MDB, and specific models of machines don't matter to the backend service.  It's funny to listen to new vendors describe how they think things work.  No offense, but you are new.  PPS: Why are you going to run a National 431 cold food machine?  That type of machine makes zero profit as it's a loss-leader for vending companies trying to get their foot in the door of an account.  Typically a snack machine is paired with a soda machine.  Then you'll have two machines that can be profitable.

[tblake05]

Some rates may be higher due to owning vs leasing equipment.

We use nayax and have been 'happy'.  Like AZ said, they are all about the same as far as rates go.

Check into Payrange Blue Card.  I think they had pretty low rates.  I checked them a while ago and was going to try them out, but haven't yet.  They don't offer any sort of online reporting of sales, so pre-kitting it out....  Unless that has changed.  Maybe you can be the ginea pig and let us know how they are.

PayRange® BluCard™ Plus all-in-one card reader - PayRange

[AZVendor]

By the by, you don't want to just put credit card readers on willy nilly.  You need the right demographics and population counts to support them and the investment.  White collar and public accounts are best, 100 person captive audience is best. Just because a location wants a card reader doesn't mean they warrant one or can support one.  Also, the younger the worker population is the higher rate of card usage.

Edited February 9, 2023 by AZVendor

[AngryChris]

Although I agree with azvendor about not adding card readers without justification, I will say that in the current world we live in, it's very uncommon to have a location that justifies vending service but not card readers.  Readers account for about 60-65% of my sales if I only count locations that have readers.  The locations without readers are almost all subject to getting pulled in the future.  This will only get more true as time goes on.

[Charlie613]

@tblake05note that PayRange does report the slot of the sell, so if you're using a VMS like Parlevel it will show you the sold item. 

Additionally, Payrange devices can get as low as 3.5%. 

Having said all that, my advice to @ExcellentBusinessServiceswould be to avoid Payrange devices. CC readers worth the extra few % points

[AZVendor]

Bordering on spam here.  I doubt we'll see any other posts from this one.

[The Mage]

On 3/25/2023 at 1:28 PM, AZVendor said:

Bordering on spam here.  I doubt we'll see any other posts from this one.

I approved it because it was vending-related, but he was put on managed posts, and I sent a message. He hasn't even looked at it and hasn't been back, so he's been flagged for spam and has been removed.