Electronic payment terminals, more commonly known as EPTs, are essential tools for restaurant owners, facilitating credit card transactions—which, according to the Banque de France, remain the preferred payment method among the French. However, purchasing and maintaining EPTs involves significant costs that warrant careful consideration. Choosing the right EPT for your restaurant requires a thorough understanding of all associated costs. In this article, we will explore the various financial aspects related to TPE, as well as strategies for reducing these expenses.
An electronic payment terminal (EPT) is a device used by retailers and restaurant owners to process credit card payments. It reads cards, verifies banking information, and authorizes transactions, ensuring secure and fast payments for customers. There are various models available:
So, how much does it cost to buy a payment terminal?
The initial investment for purchasing a payment terminal varies depending on the model and the features selected.
Types of VSE :
Features :
The price of a high-end model with advanced features such as contactless payment acceptance and software integrations can far exceed this budget and reach 1,000 euros.
Want to avoid a high initial investment? In that case, renting a point-of-sale system may be an attractive alternative. Rental fees, ranging from €15 to €50 per month, are generally billed monthly and may include additional charges for maintenance and technical support. This option is particularly suitable for new businesses, establishments with seasonal needs, or restaurant owners who set up shop at a festival or trade show, for example.
Can't decide whether to buy or rent a point-of-sale system? Here are a few points to help you make up your mind.
Renting a payment terminal:
Buying a payment terminal can be more cost-effective in the long run. Once the terminal is paid for, the only recurring costs are maintenance and transaction fees. This can result in significant savings over several years.
Transaction fees include the commissions charged by banks or payment processors for each transaction carried out via the Eftpos terminal. These fees may be fixed, based on a percentage of the transaction amount (from 0.5% to 2.5%), or a combination of both. For example, a transaction may cost €0.1 plus 1.5% of the total transaction amount.
Please note that transaction fees for debit card payments are often lower than those for credit, commercial or international cards, since the risks and processing costs associated with the latter are greater.
Now that you are aware of the costs associated with purchasing, renting, and using a payment terminal, a crucial question arises: What strategies can you adopt to reduce transaction fees?
Negotiating transaction rates with payment service providers ( both established players and fintech companies) can help you secure more favorable terms. It’s generally possible to negotiate better rates based on your transaction volume, and you can do so as your revenue grows. Before committing, be sure to compare different offers and use your transaction volume as leverage to secure better rates.
Increasing transaction volume can sometimes lead to lower fees, as some providers offer tiered pricing based on the number of monthly transactions.
Preventive maintenance is very useful because it helps prevent costly breakdowns and extend the terminal's service life.
Exploring technologies such as smartphone payments ( NFC, QR codes) can reduce reliance on traditional point-of-sale terminals and potentially lower transaction costs. These technologies also offer the advantage of providing a seamless and modern customer experience.
👉 To find out more : 5 criteria for choosing the best VSE for a fast-food restaurant
You now know that you'll have to expect transaction fees, but are there any other expenses you might not have thought of?
Maintenance of a point-of-sale (POS) terminal includes both preventive measures (regular software updates) and corrective measures (repairs in the event of a malfunction). The associated costs depend on the complexity of the problem and the duration of the service call.
Some suppliers offer extended maintenance contracts that may cover some or all of the costs of repairing and replacing defective parts. These contracts typically cost between 10 and 30 € per month, depending on the services included. They provide peace of mind by guaranteeing ongoing technical support and the availability of replacement parts.
Installing a payment terminal may also incur additional costs, particularly if specific adjustments or configurations are needed to meet your needs. These costs may include setting up the network connection and integrating the terminal with existing management systems. On average, installation costs can range from €50 to €200.
Some small business devices require an Internet connection or a specific subscription to operate, which can add to your monthly costs. We therefore recommend that you include these expenses in your overall budget to avoid any unpleasant surprises.
Software and technology updates are essential for maintaining your device’s security and compatibility with new payment standards, which can sometimes result in additional costs. Also keep in mind that payment terminals can become obsolete over time, requiring costly replacements or upgrades.
Administrative fees or unexpected costs related to the day-to-day use of the card terminal can also add to the bill. These include, for example, staff training costs or the cost of paper for receipts. Have you considered factoring these into your budget?
This list is not exhaustive, so please feel free to ask your supplier directly for a breakdown of all the costs associated with purchasing or renting your POS terminal.
Contactless payment enables your customers to pay for their purchases simply by bringing their bankcard or smartphone close to a terminal equipped with NFC technology. This simplifies and speeds up the payment process, while offering a secure solution.
SoftPOS (Software Point of Sale) is a technology that turns mobile devices such as smartphones and tablets into payment terminals. This enables you to accept contactless payments, eliminating the need for a physical POS terminal. Tap to Pay is a SoftPOS feature that enables your customers to pay simply by placing their compatible card or device on your device.
Our latest-generation POS systems, such as the Move and Nano models, incorporate SoftPOS technology. They enable you to accept payments directly at your till, without the need for an Eftpos terminal, offering an all-in-one solution for cash collection and transaction management.
Ordering terminals equipped with SoftPOS technology enable your customers to place and pay for their orders independently. They accept contactless payments, providing a smooth, fast customer experience ideal for busy restaurants.
At the same time, online payment solutions are gaining in popularity. You can now offer QR codes enabling your customers to order and pay directly at the table via their phone. What's more, click & collect services enable your customers to pre-order their meals and pay online, then collect their order from your restaurant, avoiding queues and making it easier to manage peak traffic.
💡 Did you know? At Innovorder, all our SoftPOS solutions (checkouts and order terminals) are compatible with IO Pay, our dedicated payment solution. Why choose IO Pay? To have a single provider for your cash and payment solutions, with all your data perfectly synchronized, simplifying the management of your establishment.
POS systems offer undeniable convenience for restaurant owners, but they require careful financial management to minimize costs. By carefully analyzing acquisition, maintenance, and transaction costs and exploring innovative alternatives, you can optimize your investment while improving its long-term profitability. To learn more about our rates and integrated payment solutions, visit our dedicated page.
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