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Here is likely not that much handling cost for an independent hairdresser just earning their own (quite meager) salary. In the EU you can not charge a card fee
by tossandthrow 1y ago
Here is likely not that much handling cost for an independent hairdresser just earning their own (quite meager) salary.
In the EU you can not charge a card fee on consumer transactions, so the merchant has the eat the cost.
If your revenue is - 2-3000 Eur a month, payment fees (and terminal subscription fees) can have a big impact.
- swiftcoder 1y agoI get the terminal directly from my bank here in Spain, it's something like €5/month + 0.02% of transaction. Is it much higher in other parts of the EU?
- xigoi 1y ago0.2% of 3000€ is 6€. I’m not sure how big of an impact that is, considering the non-negligible costs of handling this much money in cash. If a business earns more money after accepting cash, it’s probably because they don’t pay taxes.
- andrewaylett 1y agoI, as a private individual, can accept card payments for 1.69%. I have a physical chip and pin reader (that pairs with my phone), it cost me £25, but I can take contactless payments using just my phone. If I didn't want to use my phone, I'd need the £75 reader that comes with a 4G connection (at no extra transaction or subscription cost). If I were charging £3k/month, I'd be just above the threshold where paying £19.99/month to get a transaction fee of 0.99% saves money overall.