The cheapest card reader to buy in the UK is the Square Reader (2nd generation) which costs just £19 + VAT.
However, is it the cheapest card reader after for accounting for transaction fees? We’ll compare it and some of the most popular models for small businesses below.
But before we continue a two important points to consider.
- All pricing data from machines comes from each companies own website and excludes special limited time offers unless noted otherwise.
- All transaction fees data come from each company’s website and excludes discounts for high volume customers. If you process more than £5,000 a month in card transactions you’re likely better off getting a quote here.
7 Cheapest Card Readers You Can Buy In The UK
Summary:
- Square Reader (2nd generation): £19 + VAT
- Zettle By Paypal Card Reader 2: £29 + VAT
- Barclaycard Smartpay Anywhere: £29 + VAT
- SumUp Air: £39 +VAT
- myPOS Go 2: £39 + VAT
- Revolut Reader: £49 +VAT
- Tide Card Reader: £89 + VAT
1. Square Reader (2nd generation)
Features:
- Chip and PIN and contactless card reader
- 24/7 fraud prevention and payment dispute management at no extra cost
- Get money in your bank account as soon as the next working day, or instantly for a fee
- Packs a powerful battery in a pocket-sized POS
- Square Reader stays connected to your device
Click Visit the Square Website To Learn More
2. Zettle By Paypal Card Reader 2
Features:
- Accept most major cards and contactless
- Set up fast, sell straight away
- Charge quickly for all-day battery
- PCI-certified device
- Works with a range of POS apps
- Appointment booking or large-scale table management
- Automate bookkeeping with leading cloud accounting platforms
Visit the Zettle By Paypal Website To Learn More
3. Barclaycard Smartpay Anywhere
Features:
- Accept cards and digital wallets, including Amex and Apple Pay
- Free FreshBooks account
- Real-time sales data
- Compatible with Android 10 and iOS 15 and above
- Comes with a USB charging cable
- 24/7 help and support
Visit Barclaycard Smartpay Anywhere To Learn More
4. SumUp Air
Features:
- Low-cost
- Portable
- Phone connection
- Long-lasting battery
- Major payment acceptance
Click To Visit the SumUp Air Website To Learn More
5. myPOS Go 2
Features:
- Light and compact
- Long-lasting battery for a full day of accepting payments on the go
- 3G/4G via an integrated data SIM card
- Tactile keyboard
Click To Visit the MyPOS website to learn more
6. Tide Card Reader
Features:
- Lightweight and compact, for taking payments on the move
- Tide app required to initiate payments
- Proof of transaction by email only
Click to Visit the Tide Website to Learn More
7. Revolut Reader
Features:
- Clear, simple, pay-per-transaction pricing
- Funds are available in your Revolut Business account within 24 hours
- Takes less than five seconds to process a payment
- Catalogue sits in the Revolut Business app and doesn’t cost extra to use
Click To Visit the Revolut Website to learn more
UK Card Readers With The Lowest Transaction Fees
Below we look at the standard processing fees for the card machines listed above along with products by Dojo, Shopify & Worldpay, all of which come with an addtional monthly fee.
| Model | Standard Transaction Fee | Amex Included |
|---|---|---|
| Square Reader | 1.75% | Yes |
| Zettle Card Reader 2 | 1.75% | Yes |
| Barclaycard Smartpay Anywhere | 1.60% | Yes |
| SumUp Air | 1.69% | Yes |
| myPOS Go 2 | 1.10% + £0.07 | Yes |
| Tide Card Reader | 1.50% | No |
| Revolut Reader | 0.8% + £0.02 | No |
| Shopify WisePad 3 Reader | 1.7% + 0p in person | Yes |
| Dojo Go | 1.4% + 5p | Yes |
| Worldpay FIS Card Machine | 1.50% | Yes |
Now these fees can be a bit abstract, so let’s look at how much you’ll based on your average order value.
Processing Fees For Small Transactions
Businesses like coffee shops, corner shops and takeaways often do many small value transactions.
Here’s how much you’d pay per sale for £1, £5, £10 and £20 transactions on each machine.
| Model | £1 | £5 | £10 | £20 |
|---|---|---|---|---|
| Square Reader | £0.02 | £0.09 | £0.18 | £0.35 |
| Zettle Card Reader 2 | £0.02 | £0.09 | £0.18 | £0.35 |
| Barclaycard Smartpay Anywhere | £0.02 | £0.08 | £0.16 | £0.32 |
| SumUp Air | £0.02 | £0.08 | £0.17 | £0.34 |
| myPOS Go 2 | £0.08 | £0.13 | £0.18 | £0.29 |
| Tide Card Reader | £0.02 | £0.08 | £0.15 | £0.30 |
| Revolut Reader | £0.03 | £0.06 | £0.10 | £0.18 |
| Shopify WisePad 3 Reader | £0.02 | £0.09 | £0.17 | £0.34 |
| Dojo Go | £0.06 | £0.12 | £0.19 | £0.33 |
| Worldpay FIS Card Machine | £0.02 | £0.08 | £0.15 | £0.30 |
The important thing to note is that machines that charge a fixed fee per transaction (MyPOS, Revolut and Dojo) are all more expensive for really small transactions, but end up being cheaper for larger ones.
Therefore, it’s important for you to know what size of transaction you process most often to know which will be the cheapest for you.
Processing Fees For Large Transactions
And if your business processes fewer, larger transactions the differences in fees can become even more apparent.
Here’s how much you’ll pay for larger transactions from £50 to £1,000.
| Model | £50 | £100 | £200 | £1,000 |
|---|---|---|---|---|
| Square Reader | £0.88 | £1.75 | £3.50 | £17.50 |
| Zettle Card Reader 2 | £0.88 | £1.75 | £3.50 | £17.50 |
| Barclaycard Smartpay Anywhere | £0.80 | £1.60 | £3.20 | £16.00 |
| SumUp Air | £0.85 | £1.69 | £3.38 | £16.90 |
| myPOS Go 2 | £0.62 | £1.17 | £2.27 | £11.07 |
| Tide Card Reader | £0.75 | £1.50 | £3.00 | £15.00 |
| Revolut Reader | £0.42 | £0.82 | £1.62 | £8.02 |
| Shopify WisePad 3 Reader | £0.85 | £1.70 | £3.40 | £17.00 |
| Dojo Go | £0.75 | £1.45 | £2.85 | £14.05 |
| Worldpay FIS Card Machine | £0.75 | £1.50 | £3.00 | £15.00 |
Despite being the most expensive, cheap card reader The Revolut Reader is the clear winner when it comes to really large transactions. Processing costs are less than half as much as many competing card machines.
However, you can probably do even better than them if you’re processing more than £5,000 a month.
Most larger payment companies don’t advertise their best rates online, but you can get a quote here if you process larger payment volumes. For example, you may be able to get debit card rates as low as 0.2%, although this depends on the type of business you run.
* Note: We have affiliate relationships with MVF, Square, SumUP, MyPOS, Tide, Revolut, Dojo, Worldpay, and Shopify and may earn a cmission if you buy from them using one of our links.
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