Table: sorted by transaction cost, promoted deals first
What is myPOS?
Every year, fewer and fewer people are shopping with cash; and according to UK Finance, contactless card use now makes up a third of all payments. No matter how small your business is, if you can offer your customers the use of a card reader, you’re almost certain to make more sales than you otherwise would. You’ll avoid the security risks of a cash-only business, too.
myPOS (launched in 2012) is an in-person, online and mobile payment solutions brand aiming to be affordable for small and medium-sized businesses.
Do myPOS card readers have the features you need? Here’s what you need to know.
More about myPOS card readers
Below are the key features for each of the myPOS card readers:
myPOS Go
Upfront cost of £29
Fully portable thanks to integrated SIM card with 3G/4G coverage
Accepts contactless, mobile, NFC, chip & PIN and Magstripe payments
30 days money-back guarantee
Designed to last all day
myPOS Combo
Upfront cost of £129 plus VAT
Mobile payment-acceptance device with a built-in credit card reader and printer
Accepts contactless, mobile, NFC chip & PIN and Magstripe payments
30 days money-back guarantee
Designed to last all day even with a high volume of transactions. Charging dock sold separately or as part of a bundle
myPOS Pro
Upfront cost of £229 plus VAT
Accepts contactless, mobile, NFC chip, QR & PIN and Magstripe payments
30 days money-back guarantee
Work in conjunction with the free myPOS Android app
Designed to last all day
Built in printer
Transaction costs for myPOS card machines
Card present:
1.1% + 7p
Amex: 2.45% + 7p
All other cards (inc. commercial): 2.85% + 7p
Card not present (e.g. payment link):
1.3% + 7p
Amex: 2.50% + 15p
All other cards (inc. commercial): 2.9% + 15p
How to order a myPOS card machine
Once you’ve done your research, if you decide a device from the myPOS range is the right card reader for you, visit the MyPOS website and order online. Your device will be delivered from a local myPOS store within 3 days.
Pros and cons
Pros
Accepts a wide range of networks
Portable option with myPOS Go
Print receipts with myPOS Carbon
No contracts
30 days money-back guarantee
12 months warranty
Instant settlement to your account
All devices are standalone and don’t need to be connected to a mobile device
Lower transaction fees than many competitors
Cons
Transaction fees apply and are higher for transactions made with Amex or without the card present
Only the myPOS Carbon comes with a receipt printer
The upfront cost of most myPOS card readers is higher than that of some competitors
myPOS reader customer reviews
myPOS has an overall rating of “great” on Trustpilot (updated March 2024), with 4.1 out of 5 stars based on more than 10,000 reviews. Most customers are full of praise for the machines themselves and for the brand’s customer service. Negative reviews refer to the higher fee, difficulties in providing the necessary documentation for set-up and some problems accessing tech support when things go wrong.
Our verdict
myPOS has several machines to choose from. Whether you need a card reader for on the go or docked into your professional set-up, one of these models could work for you.
On the whole, myPOS customers seem keen, but there are some who have also raised concerns about the fee, the set-up process and the brand’s response when something goes wrong.
Compared to rivals, myPOS card readers have transaction costs on the lower side and benefit from having no monthly costs; but, with the exception of the extremely reasonably priced myPOS Go, the upfront price is higher than for many competitors. However, it does have an impressively speedy settlement period.
Overall, myPOS offers a few choices that could suit small or medium businesses. Whether you choose one from this range or a different brand depends on your business’s needs. Use our handy guide to compare a range of card machines and make an informed decision.
Frequently asked questions
You just input the payment amount in the card payment machine and ask your customer to pay by inserting, swiping or tapping their card, mobile device or NFC wearable. Your device will then read the card information. If there are sufficient funds in the customer’s account, the reader will accept the payment and transfer it to your free merchant account. Depending on whether you’ve chosen a myPOS device with a printer, you can then either print a receipt or send it to your customer by email or SMS.
Follow these steps to get your card reader ready to use:
Sign up for an account and download the app
Go through the online identification and merchant verification process in the app
Connect your mobile payment terminal and business card to the account
Yes, MyPOS card readers accept all major credit and debit cards, including Amex; but they do charge a higher transaction fee for Amex than for most other cards.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Grace was a Finder writer specialising in credit and loans. She's been writing about personal finance for several years and enjoys helping consumers sort the facts from the fluff. See full bio
In this guide, we compare the most popular card reader products from SumUp and Barclaycard.
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