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Bender_2k
join:2003-01-12

Bender_2k to Gone

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Re: [Rant] Charging for Debit transactions

said by Gone:

Is that the cost to rent a terminal, or do you have to buy the terminal and then that's what they charge you for a service fee per month?

That's normally the cost to install the terminal ($150.00) but you can do a self install.

Most payment processing companies (the large ones) rent the terminals and do not allow you to own them (very rare cases you can own them). Tbh that's the best way since if they ever do upgrades you get a free upgrade right away (Moneris for example is doing that this year with all their older terminals, swapping them out for newer ones).
peterboro (banned)
Avatars are for posers
join:2006-11-03
Peterborough, ON

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Something I'll never have to worry about as I pay cash for everything. So will all of you when this ridiculous system for paying for small purchases crashes finally.
gbwalsh
join:2010-07-25
Burlington, ON

gbwalsh

Member

I used to use cards alot but as I paid off all my debt I find using cash for in person purchases better. Sure helped on Saturday at the grocery store when the processing system was having problems.

Gone
Premium Member
join:2011-01-24
Fort Erie, ON

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said by Bender_2k:

Most payment processing companies (the large ones) rent the terminals and do not allow you to own them (very rare cases you can own them). Tbh that's the best way since if they ever do upgrades you get a free upgrade right away (Moneris for example is doing that this year with all their older terminals, swapping them out for newer ones).

Yeah, we rent ours and we would never buy for exactly the reasons you described. $50 and $15 just seemed very cheap.

eweazel
join:2008-12-09
Etobicoke, ON

eweazel

Member

We pay 100.00 for 3 wired units and one wireless unit, and 13.98 for network access point per month.
NefCanuck
join:2007-06-26
Mississauga, ON

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said by peterboro:

Something I'll never have to worry about as I pay cash for everything. So will all of you when this ridiculous system for paying for small purchases crashes finally.

Except with the rounding issues due to the pennies being discontinued for cash purchases. It does add up depending on how & where you're shopping with cash.

NefCanuck

Ian1
Premium Member
join:2002-06-18
ON

Ian1

Premium Member

said by NefCanuck:

Except with the rounding issues due to the pennies being discontinued for cash purchases. It does add up depending on how & where you're shopping with cash.

It nets to zero unless there was widespread price adjusting to gain a rounding advantage, and I never witnessed that.

lugnut
@communications.com

lugnut

Anon

said by Ian1:

said by NefCanuck:

Except with the rounding issues due to the pennies being discontinued for cash purchases. It does add up depending on how & where you're shopping with cash.

It nets to zero unless there was widespread price adjusting to gain a rounding advantage, and I never witnessed that.

Have you been to Tim Horton's lately? Order a small coffee with virtually ANY pastry and it ALWAYS rounds up.

Tim's is one place where I let them eat the costs and tap my Visa to pay.

Bender_2k
join:2003-01-12

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said by eweazel:

We pay 100.00 for 3 wired units and one wireless unit, and 13.98 for network access point per month.

That's a pretty good price! Who's your payment processor if I could ask?

eweazel
join:2008-12-09
Etobicoke, ON

eweazel

Member

.
said by Bender_2k:

That's a pretty good price! Who's your payment processor if I could ask?

You sure can, its TD Merchant Services
zod5000
join:2003-10-21
Victoria, BC

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I'm not a big fan of cash. I truely despise and loathe change. I usually leave cash in my wallet for emergencies but I only use it in emergencies (the once or twice a year your in a store and the system is down).

I used to use debit a lot more, but with cashback on the Credit Card I've been using it more. I've always used credit cards for convenience, never as a mechanism to borrow, so that's never an issue.

I assume all mega corporations increase their prices to absorb the CC fees anyways, so I never have a problem using the Credit Card at any major company. If I go somewhere small like the bike shop I'll use my debit card because I know the fee is smaller.

I was pretty bad this morning. I was buying a coffee at mcdonald's this morning and it was only 79 cents. I tried to pay with debit and I couldn't get it to work, so I tapped my credit card... lol. The problem with paying with change, is you end up with more change. Electronic is so much tidier.