myPOS Go | myPOS Carbon | |
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Price | €39 + VAT | €219 + VAT |
Shipping fee | €5 + VAT | |
Transaction fee | 1.69%-2.89% + €0.05 | |
Connections | GPRS, 3G | WiFi, GPRS, 3G, 4G (SIM included) |
Size | 136 mm x 66.6 mm x 20.4 mm | 194 mm x 80 mm x 68.8 mm |
Weight | 170 g with battery | 420 g with battery |
Prints receipts? | No | Yes |
Accepted cards | ||
Contactless options |
How myPOS works
The compact, standalone card machines by myPOS can accept a wide range of credit and debit cards anywhere with a network connection.
There’s no contractual commitment and no monthly or annual fees. You just pay upfront for the terminal, then transaction fees and other pay-as-go fees for transfers and other account activities.
A major selling point is the “instant access to funds” after transactions, which you have through the complimentary myPOS Business Cards (Visa-branded) for the online myPOS account where transactions settle.
Image: myPOS
myPOS devices come with a SIM card with unlimited free data for anywhere in the EEA.
There is no automatic settlement to your bank account, but you can use the myPOS Business Card in any store – online or physical – carrying the Visa sign. The business account has additional features similar to a bank account, so you can use it as your main hub for business transactions.
Mobile terminals for independent use, with a few extras
myPOS Ireland currently sells these models:
- myPOS Go
- myPOS Carbon
- myPOS Slim
- myPOS Combo
They all connect with 3G with the help of a free SIM card that includes unlimited data, valid across the EU and the UK. This makes them great if you travel a lot and frequently need to take payments in other countries, for example in Northern Ireland. If mobile connectivity is not an option, all but Go connect with WiFi.
If you’re looking to accept just simple payments, i.e. manually entering the card total to process, they would all suit. Features include tipping, multiple staff accounts and customised receipts.
For more POS features, we recommend the Carbon terminal that has free POS register software built in. Here, you can add products to an inventory library, track stock levels, set discounts and more directly on the touchscreen. It’s not as advanced as tablet-based POS systems, but does the trick for e.g. table-service staff and corner shops.
myPOS Combo is a powerful card terminal, but it’s an older model that’s not as feature-rich and physically hardy as Carbon. There’s no access to the full app market on Combo with its much smaller screen and push-buttons below, as opposed to Carbon’s large touchscreen with all of myPOS’s apps available.
Image: myPOS
myPOS Carbon next to its box.
myPOS Combo and Carbon have a built-in receipt printer, while myPOS Go and Slim only send receipts via text or email. Go’s and Slim’s lack of receipt printing enables them to be smaller and lighter-weighted than Combo and Carbon.
myPOS Slim is the smallest of the smart POS terminals. It’s the size and shape of a smartphone and can have more features added through apps. The built-in barcode scanner is handy for retailers with an inventory library, as you can scan products to sell, check stock counts and more. Like Carbon, you can use myPOS’s free cash register app on this terminal.
Image: myPOS
myPOS Slim doubles as a portable barcode scanner.
The myPOS Go card reader, on the other hand, can only really perform basic functions like accepting chip, contactless and swipe cards. It resembles a narrow calculator with its push-button PIN pad and small (but colour) display. Since it doesn’t work with WiFi, you’re reliant on its 3G or 4G connectivity to use it. That being said, myPOS Go is the cheapest independently-working card reader in Ireland that doesn’t require a Bluetooth connection with a smartphone to function.
Image: myPOS
myPOS Go is the cheapest (and least aesthetic) of all myPOS models.
The pricier card machine models can sell mobile top-ups, request payments remotely and issue gift cards. There is also a myPOS app for your phone where you can monitor sales remotely, manage your myPOS accounts, send payment links and more.
For more complex features, you can integrate Carbon and Combo with POS systems through APIs and SDKs (the myPOS website gives technical information on setting it up).
Signing up takes some effort
Getting started with myPOS is done in three steps (if all goes well). First, you go to the website, click “sign up” and complete the required details like company and director information, ownership structure and projected turnover. You then receive a 4-digit code via a text message to enter on the sign-up form.
After submitting all this, you get an email about the next step: identity verification. A 5-minute video call with a myPOS team member is required, along with proof of ID and documents to verify your identity. This, myPOS says, is a requirement from the EU Fourth Money Laundering Directive, which – maybe because the devices by default work across Europe – they need to comply with.
By contrast, SumUp and other card reader providers haven’t typically got this requirement – perhaps because their card readers by default only work within the country of registration.
After the video identification, you will receive confirmation within 8 business hours of whether you can proceed with the application. Then you are required to provide legal documents to verify your company’s identity. The type of documents will depend on your company.
Only after these submissions have been accepted do we recommend purchasing a card machine, since some businesses will be rejected if they do not fit in with the accepted business models.
It is cheapest to buy a terminal on myPOS’s own website. You can find them in a few other shops too, presently just Desertcart in Ireland.
Fees not entirely simple
In some regards, myPOS has simple fees. They have no monthly costs and seemingly “no hidden fees”, but if you buy into the service expecting to receive transactions in your bank account, you’ve got another think coming.
Their advertised transaction fee is usually 1.69% + €0.05, but this applies only to consumer Visa, Mastercard, V Pay and Maestro cards issued in Ireland, elsewhere in the EEA or the UK. Commercial cards by the same card brands cost 2.89% + €0.05, even if they are issued in the EEA. The 2.89% + €0.05 transaction fee also applies to American Express, JCB, UnionPay, Bancontact and all other non-EEA consumer and commercial debit and credit cards.
Type of card | Transaction fee |
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Visa, V Pay, Mastercard, Maestro – EEA-issued consumer cards | 1.69% + €0.05 |
Visa, V Pay, Mastercard, Maestro – EEA-issued commercial cards | 2.89% + €0.05 |
American Express, JCB, UnionPay, Bancontact | 2.89% + €0.05 |
Non-EEA consumer & commercial cards | 2.89% + €0.05 |
MOTO/Virtual Terminal payments | Above fees + 1% |
Online payments | Domestic & EEA consumer cards: 1.3% + €0.20 Other consumer & commercial cards: 2.9% + €0.20 |
UK-issued cards are grouped into the non-EEA category of fees for remote and online transactions (which have higher fees, as seen in table above), whereas UK cards incur the EEA (lower) fees for chip and contactless card payments through a terminal.
In contrast to other mobile card machines in Ireland, you have to pay a transfer fee to pay out money from the myPOS E-money Account to a bank account. Settlement is not automatic, but it is instant (or up to 2 hours in the slower cases) when you submit the transfer to an Irish bank account.
myPOS cost | |
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Card terminal | €39–€219* |
Delivery charge | €5* |
Setup fee | None |
Fixed monthly fee | None |
Payment with myPOS Business Card | Free |
≤€300 withdrawal from myPOS Business Card | €2 |
>€300 withdrawal from myPOS Business Card | €4 |
Transfer to Irish bank account (SEPA) | €3 |
Transfer in non-EUR currency | From €3 |
Refunds | €0.00-€0.30 |
Chargebacks | €15 |
Inactivity fee after 10 months’ inactivity | €10/mo |
E-money redemption when closing the account | €15 |
*Excluding VAT.
If your account has been inactive for ten months, a monthly charge of €10 is taken until your next myPOS transaction. You also pay €15 to redeem the remaining money in the online account if you close the account. In other words, you can’t just open a myPOS account and leave it unused indefinitely without paying something eventually, and closing the account may incur a redemption fee.
Apart from the above-mentioned fees, there are several other fees specific to international money transfers, myPOS Business Card use and more. And let’s not forget the €5 + VAT shipping charge on all myPOS card machines.
myPOS account and Business Visa cards
Merchants operating internationally will like that myPOS works through a “merchant account” – which is an e-money/online account – with its own IBAN. (Note: The myPOS merchant account is different from a traditional merchant account purely for card processing purposes)
In fact, you can create multiple currency accounts in the online dashboard, sort of like different virtual wallets for designated currencies. This allows you to transfer foreign currencies across the border without paying currency conversion fees (if the recipient has the same currency as the one you send).
The e-money account is where your money goes immediately after accepting a card payment on a card machine, and where the money stays and can be spent in stores with the complimentary myPOS Business Visa card.
myPOS offers Standard, Platinum Silver & Gold and Platinum Metal cards.
This is great if you’re happy using the e-money account as your main business account and the myPOS Business Card for spending. But if you need to transfer money to a bank account, it costs €3 per transfer to an Irish bank account, and by default, you do these transfers manually. There is, however, an option to schedule automatic or mass transfers.
The first card is free, after which you can buy extra ones (€5 each) for e.g. employees. This is a great way to manage expenses, as you can set spending limits and get push notifications for transactions. The cards can be used for cash withdrawals.
The account and card are all integrated with the POS terminals, enabling a complete and real-time sales overview in your web- or app-based dashboard.
If a Standard (free) myPOS Business Card is too basic for your needs, you can subscribe to a Platinum Silver & Gold (€8.90 monthly) or Metal (€15.90 monthly) type of card that can be added to your Apple Wallet or Google Wallet. These come with extras like 2-3 free cash withdrawals per month, higher spending limits and free reissuing.
Online and remote payments
myPOS has in recent years added a plethora of online payment methods that don’t have monthly fees, just pay-as-you-go transaction fees. This makes myPOS a direct competitor to Square and SumUp that also offers multichannel payment tools for no monthly cost, in additional to in-person card machines.
You can send payment links and electronic (email) invoices from the online account in the myPOS app or browser dashboard. There is also a website builder with a choice of online store templates, making it easy to start an online business.
If eligible, you can have the myPOS Virtual Terminal activated in the account for Mail Order and Telephone Order (MOTO) payments. This is also accessible on any device – whether desktop, tablet or smartphone – and employee permissions can be set so only some team members can access the virtual terminal.
As with card machine payments, online and remote transactions are immediately settled in your myPOS account.
Who is it best for?
Rocky startups and low-volume merchants prioritising instant access to money – whether through card or cash – might prefer myPOS.
The myPOS business model is centred around the e-money account making things easy for multichannel businesses. If you’re happy either using this as your main business account for money processing, or paying settlement fees, myPOS could be an effective, contract-free solution for you.
The terminals meet the needs of those who just need to get paid in person, simply and anywhere. This makes it suitable for street vendors and small food-and-drink outlets. If you need more features, myPOS Carbon can utilise third-party apps, provided they are developed for myPOS and made for Android.
Customer service and myPOS Ireland reviews
Judging by customer reviews, it’s hit-and-miss how good your experience of myPOS’s customer service will be. Some countries have no phone number to call, but in Ireland, there is a 24/7 customer support line on hand when you need it.
We have seen more user reviews mentioning myPOS’s requests for additional documentation to verify certain payments than we have for other providers, so it appears you can expect them to take more anti-fraud precautions than other payment companies.
According to myPOS, they are following the same European laws as any other payment provider, but at least during the sign-up process, they are asking for more proof and documentation than other Ireland-based payment providers.
An example of more paperwork is account holds. Some users have entered into ongoing communication loops with myPOS who requested documentation and proof to verify payments, and sometimes it appears the merchant ends up not getting the money (though it’s hard to tell if the user really did provide the correct details). There have also been reports of merchants whose accounts were shut down due to myPOS not accepting their business type, even though it was accepted during the application.
Our verdict
myPOS is great for instant access to funds, a commitment-free business account and mobile card processing on the go. The system allows you to transfer money internationally in multiple currencies, distribute Business Visa cards to staff and process payments through a multichannel solution.
myPOS criteria | Rating | Conclusion |
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Product | 4.1 | Good |
Costs and fees | 3.7 | Passable/Good |
Transparency and sign-up | 2.6 | Bad/Passable |
Value-added services | 4.5 | Good/Excellent |
Service and reviews | 3.5 | Passable/Good |
Contract | 3.9 | Good |
OVERALL SCORE | 3.7 | Passable/Good |
The card machines are for straightforward transactions, with the added benefit of working in all EEA countries and the UK. If you’re trading across the border as well as domestically, it could therefore be your go-to card solution.
That being said, we’ve seen mixed reviews about the service, and the hidden costs of payouts, transfers and miscellaneous things like SEPA Direct Debits and cash withdrawals can make it more expensive than small-business alternatives like SumUp.
The fact that you have to close the account to avoid an inactivity fee is another minus, as it makes myPOS not totally commitment-free. It is, however, a potentially valuable service with many tools to draw from.
Bottom line: Ideal for those who need a mobile card machine connected to an online business account with instant access to funds.