OurTown
Well-known member
What should we expect to pay? Also would like to know all the extra fees including the monthly or yearly.
Finally a credit card reader that accepts tap and chip cards
- Thread starter APW
- Start date
Hi there-The terminals retail for $595 ea. as mentioned plus the cost for a modem $300. We have in place an interchange plus system which is simple to understand whereby we add a percentage to the network's public interchange fees. The only other fees are monthly SIM fee (one fee per location), a minor admin fee as well as a PCI (quarterly) and an annual fee. We also have a national installation program at a cost as well if you aren't installing devices yourself.
Yes absolutely PCI compliant. Everyone must pay the PCI, it really depends on how the payment processor wants you to pay it. Some bury it in the other fees, others make it a line item in which case we do ($9.95 per quarter).
Roz
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You want to add all the associated numbers to your monthly costs (you need to have a cellular monthly plan for I think $10 or $15 per month). At least it is just one plan per site and not per device like Nayax. Still you need to check your cell bars. When I ran the numbers I think it was about 10% (perhaps slightly more) which is too high. At some point they will get their fees and owner functions to be competitive to CP. too many manufacturers tie our hands to one CC processor (almost all).
MEP001
Well-known member
Why? PCI compliance is optional. When I worked for a distributor up to 2019, we were suddenly getting dinged for $600 a year for PCI compliance on a dial-up device. It doesn't get more compliant than that. We just refused to pay it, and they took it off the bill.
The credit card networks require PCI compliance. I cannot comment on the $600, that is very excessive and nowhere near our fees which are under $40 yearly.
Mattwash
Member
I have Monex programmed with countup timers. Wash Bays: Have them set for a $20 preauth charge. I’ve had a couple of issues and replaced 2 of the 6 readers.
Vacuums: Set for $2 charge, no countup.
Pros: tap to pay works perfectly.
Issues: After a couple of months, two separate readers the chip reader would only read older brass chip cards, not the silver colored chip cards. This is despite cleaning them on a regular basis. Really believe this is from condensation causing corrosion on the chip reader. For chip cards, 50/50 chance it lets you swipe the card. Been almost a month since I’ve had an issue
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Mattwash
Member
Agree! However you do see fee % decrease as sales increase. I purchased an abandoned car wash and recently remodeled it. Only have 3 bays running and CC income has gone from $800 in Feb to $1800 in May. I’m sure if you were processing $5k in cc transactions there would be a drop. Also be mindful I’m including PCI, router fee, monthly fee for Monex, and cc processing fee into my calculation.
AZcarwashman
Active member
If only Cryptopay came out with an all in one. There would be no more threads of Monex or Nayax. Cryptopay customer service, analytics, attendant, single use etc cards. They have it all. Except for a slick all in one swiper. How can a slick looking easy to use Monex cost less than a Cryptopay swiper combined with the cryptotap. Makes those of us that are Cryptopay loyalists begin to look at the competition. I already did that at one site with Nayax. Regret that though since Nayax customer service/ tech support is horrendous. May check out the Monex if Cryptopay doesn’t up their hardware game.
Mattwash
Member
This is on an IBA so the average is probably around $13.
Hi all-any MONEXgroup client who believes they are experiencing abnormally high fees please DM me or contact your rep. We want to make sure your pricing is correct and you are happy with our agreement. There are many factors that can alter your statement to make it appear that you are paying higher fees including one-time fees as well as a location heavy with premium or debit cards. Regardless we are happy to analyze your statement anytime.
Since 1972
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I'm taking my Monex devices OUT!!!
They take credit, credit/debit but not debit card only. Debit only cards are processed like a check. Monex/Kiosoft and John Farriuga will send you emails they will call you the next day, but don't. It is my opinion they just need costumers for R&D until they get it figured out, if they figure it out. I have 35-70 customers per month we run their debit card with our Apple Terminal. Just remember anyone you meet at the ICA is just renting a booth. The ICA does NOT vet vendors or monitor complaints, they are just a booth rental company only.
Two more down!
They take credit, credit/debit but not debit card only. Debit only cards are processed like a check. Monex/Kiosoft and John Farriuga will send you emails they will call you the next day, but don't. It is my opinion they just need costumers for R&D until they get it figured out, if they figure it out. I have 35-70 customers per month we run their debit card with our Apple Terminal. Just remember anyone you meet at the ICA is just renting a booth. The ICA does NOT vet vendors or monitor complaints, they are just a booth rental company only.
Two more down!
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OurTown
Well-known member
Can you give us some more details of exactly what the issue is? What system are you going with now?
Car_Wash_Guy
Well-known member
Are these debit cards without Master Card or Visa endorsements?
I've never seen a debit card without the Visa or MasterCard logo and I wouldn't want to risk taking something not ensured by either?
