What would a summer in Estonia be without summer cafés, street food, street food trucks? With the summer heat, people move around more, which also boosts entrepreneurship. With the LHV payment terminal, any company can offer their clients an easy way to pay during the summer season.
Now is the right time for any entrepreneur to prepare for the summer season. The payment terminal offered by the bank to accept card payments could be available in time for any merchant wishing to offer clients a convenient payment method. LHV offers you the possibility to rent a payment terminal with mobile data (GSM) for one month or for the whole summer season at a monthly price of 25 euros + VAT. It is a state-of-the-art terminal, which is also ideal for a point of sale travelling around Estonia.
If you know that your company will only be out on the sales location for a certain period of time, you can schedule your payment terminal rental around that time and save on costs. After the end of the sales period, you can return the terminal. Seasonal payment terminals are ideal for:
- summer cafés or street food vendors,
- for merchants participating in festivals-fairs,
- smaller tourism and leisure service providers,
- organizers of summer events.
The payment terminal is an indispensable assistant for the merchant, as the vast majority of Estonians prefer to make payments using a bank card or as a contactless payment with a smart device. Only 12% of people use cash on a daily basis. Although paying with banknotes or coins is also an option during the summer season, a large number of people prefer not to carry them and use a more convenient means of payment whenever possible.
How the service fee is formed
In addition to the payment terminal rental fee, the use of the terminal is also subject to a bank service fee, the amount of which depends on the turnover of card payments of a particular company - the higher the turnover of payments, the lower the percentage of the service fee, ranging from 0.15% to 0.85%. For example, if you receive 10,000 euros through a payment terminal during the summer, the service fee is 0.55 percent, but if you receive 100,000 euros, the fee is 0.30%.
In the case of accepting card payments, the interchange fee for servicing payment cards determined by the card organization and the processing fee of the bank that issued the card will also be added. You can see the exact calculation progress in the LHV card payment total cost calculator.
If your company operates seasonally, don't commit to an annual contract – opt for flexibility and only pay when you use the service. It's also a convenient solution for the client, especially when most of them have a bank card or a smart device with the possibility of contactless payment in their pocket.
More information: https://www.lhv.ee/en/payment-acquiring
