myPOS does not have monthly fees or contractual commitment, but the sign-up process takes a few days to complete since various proof is required. Most card payments (Visa, V Pay, Mastercard and Maestro cards issued within EEA) cost 1.75% per transaction. Other cards incur fees upwards of 3% per transaction.
Transactions through myPOS don’t go to your bank account. Every merchant gets an online e-money account which is where payouts go. You can then choose to transfer money to your Irish bank account for a fee, transfer money internationally or spend the money with the complimentary myPOS Visa card.
myPOS also has a virtual terminal for telephone payments, payment links, invoicing and other online tools. There are, however, several different fees related to payment transfers, chargebacks, shipping etc. so it’s not necessarily the cheapest option.