Our rating(3.8/5)
myPOS card machines are a no-contract alternative for mobile merchants.
myPOS card terminals allow you to access payments instantly in an E-money Account. There’s no long-term contract, but the customer service, transfer fees and account holds can be pain points for some.
  • Pros: Instant funds access. IBAN, card and e-account included. No lock-in or monthly fees. Online payments. Multi-currency.

  • Cons: Withdrawal to bank account extra cost. Many types of fees. Convoluted sign-up. Account holds.

  • Buy if: You want a cross-border, mobile solution connected to an online business account.

myPOS Go myPOS Carbon
myPOS Go myPOS Carbon
Price £9.90 + VAT £189 + VAT
Delivery fee £6 (no VAT applies)
Transaction fee 1.1%-2.85% + 7p
Connection 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 MastercardMaestroVisaVisa ElectronV PayAmerican ExpressJCBUnion Pay
Contactless options ContactlessApple PayGoogle PaySamsung Pay

How myPOS works

The compact, standalone card machines by myPOS 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 a one-off price for the terminal, transaction fees and other costs for applicable 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) linked to an online myPOS account where payouts go.

Photo: Emmanuel Charpentier (EC), Mobile Transaction

myPOS Carbon box

myPOS devices come in a sturdy, nice-looking box.

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, as well as online payment tools, so you can use it as your main hub for business transactions.

Mobile Transaction reviews card machines – including those by myPOS – according to rating criteria: product, pricing, transparency and sign-up, value-added features, reviews and support, and contract.

Each criteria gets a score ranging between 1 and 5, resulting in one overall star rating reflecting myPOS’s value for a small business.

A card machine’s primary function is to take card payments in person, so the device quality and experience of payment acceptance have a higher weighting – this falls under the product criteria.

We have thoroughly researched and analysed myPOS’s card terminals and company as a wider service to establish fair scores for all rating categories. Our Verdict shows a breakdown of our scores.

Mobile terminals with a few extras

myPOS UK 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 UK and EU. This makes them great if you travel a lot and frequently need to take payments in other countries, like France or 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 an older model that’s not as feature-rich and physically hardy as Carbon, but it is still powerful. 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.

Photo: EC, Mobile Transaction

myPOS Carbon seen from side with receipt

myPOS Carbon can print receipts.

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-weight 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 scanning barcode

myPOS Slim doubles as a portable barcode reader.

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 the UK that doesn’t require a Bluetooth connection with a smartphone to function.

Photo: EC, Mobile Transaction

myPOS Go bottom angle

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 website provides technical information on setting it up). The company also sells big touchscreen POS machines (‘Hubs’) and unattended POS registers for those with a larger budget.

Tap-on-phone app: myPOS Glass

An interesting alternative to the POS terminals is the myPOS Glass app available on certain Android smartphones (not iPhone). It allows you to accept NFC cards or mobile wallets through a contactless tap on your phone (tap-to-pay), as well as QR code payments in person.

The Glass app has two plans: the free Starter plan with higher transaction fees (from 1.6% + £0.07) and Pro for £5.90 monthly for lower transaction fees (from 1.1% + £0.07). The app also allows you to order Platinum Silver, Gold and Metal cards with higher spending limits, loyalty perks and cashback on card purchases.

Getting started takes some work

Getting started with myPOS is done in three steps (if all goes well). Step one is going to the website, clicking “sign up” and completing required details including company and director information, ownership structure, projected turnover and more. You then receive a 4-digit code as a text message to your phone, 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 don’t typically have this requirement – perhaps because their terminals 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’s straightforward to buy a myPOS terminal on the website or by visiting their London store.

It is normally cheapest to buy a terminal on myPOS’s own website. You can find them online too, for instance on Amazon, Android EPOS and DirectShopfittings.

Fees fairly transparent, but there are catches

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 into your bank account, you’ve got another think coming.

The transaction fee is 1.1% + 7p for consumer Visa, Mastercard, V Pay and Maestro cards issued in the UK or EEA, which is quite a good deal without a contract.

All American Express cards are 2.45% + 7p per transaction, and all other cards that are commercial, issued outside the EEA or of other card brands cost 2.85% + 7p per chip, tap and swipe transaction.

Type of card Transaction fee
UK & EEA-issued consumer Visa, V Pay, Mastercard, Maestro cards 1.1% + 7p
American Express 2.45% + 7p
All other cards 2.85% + 7p
MOTO/Virtual Terminal payments Above fees + 1%
Online payments Domestic consumer cards:
1.3% + 15p
American Express:
2.5% + 15p
All other cards:
2.9% + 15p

Payments online or via the virtual terminal (keyed) incur higher fees, as shown in the table above.

In contrast to other mobile card machines in the UK, you have to pay a transfer fee to send 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 a UK bank account.

myPOS cost
Card terminal £9.90-£199*
Delivery charge £6
Fixed monthly fees None
Payment with myPOS card Free
≤€300** withdrawal from myPOS card £2
>€300** withdrawal from myPOS card £4
Transfer to UK bank account £1.50
SWIFT transfers From £3
Refunds Free
Chargeback fee £15
Fees after 10 months’ inactivity £10/mo (inactivity fee) + £5/mo (no acquiring fee)

*Excluding VAT. **Or its exchange value in GBP or other currency on the date of transaction.

myPOS cost
Card terminal £9.90-£199*
Delivery charge £6
Fixed monthly fees None
Payment with myPOS card Free
≤€300** withdrawal from myPOS card £2
>€300** withdrawal from myPOS card £4
Transfer to UK bank account £1.50
SWIFT transfers From £3
Refunds Free
Chargeback fee £15
Inactivity fee after 10 months’ inactivity £10/mo (inactivity fee) +
£5/mo (no acquiring fee)

*Excluding VAT. **Or its exchange value in GBP or other currency on the date of transaction.

If your account has been inactive for ten months, a monthly charge of £10 + £5 is taken until your next myPOS transaction or you close the account. In other words, you can’t just open a myPOS account and leave it unused indefinitely without paying something eventually.

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 £6 shipping charge on all myPOS card machines.

myPOS merchant account with Business Visa card

Would your business benefit from a dedicated merchant account separate from a local business bank account? Or do you just want a temporary business account before you set up a permanent one in a bank? If so, myPOS could work for you.

Merchants operating internationally will like that myPOS works through a “merchant account” – or myPOS E-money 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).

myPOS Dashboard

Multi-currency accounts are managed in the myPOS Dashboard.

The e-money account is where your money clears immediately after accepting a card payment on a terminal and where the money stays and can be spent in stores with the complimentary myPOS Business (Visa Prepaid) card.

Every merchant gets one free myPOS Business card to use in any store accepting Visa (additional cards cost £5 each) or for cash withdrawals.

myPOS Carbon and Go with a myPOS Visa card

The myPOS Business Card is included with all the card machines.

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 £1.50 per transfer to a UK bank account, and by default, you do these transfers manually. There is, however, an option to schedule automatic or mass transfers.

PayPal similarly offers instant settlement in an online account and a Mastercard on request, but it operates as an aggregator so you don’t have your own IBAN.

Are you a mobile hairdresser or barber? These card machines are ideal

Online 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, SumUp and Zettle that also offer multichannel payment tools at 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 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.

Its 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.

Photo: EC, Mobile Transaction

myPOS Go opened to reveal SIM card

myPOS Go (pictured) and the other terminals have a free SIM card with data for the UK and EEA.

The cross-border SIM card makes it great for merchants who travel in the EEA and still need a functional way to accept money in person.

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, small food-and-drink outlets, and cab drivers. If you need more features, the terminals can utilise third-party apps, provided they are developed for myPOS and made for Android.

Customer service and user 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 the UK, there is a 24/7 customer support line on hand when you need it.

The fact that the company operates internationally means they have more compliance rules to follow.

In line with that, 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.

During the sign-up process, myPOS is asking for more proof and documentation than other UK-based payment providers.

According to myPOS, they are following the same UK and 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 UK-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.

Londoners can visit their London store near Blackfriars Bridge to see the card machines in person and talk to a member of the team about any queries.

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, give out Business Visa cards to multiple staff members and process payments through a multichannel, multi-currency solution.

myPOS criteria Rating Conclusion
Product 4.2 Good
Costs and fees 3.7 Passable/Good
Transparency and sign-up 2.8 Passable
Value-added services 4.4 Good/Excellent
Service and reviews 3.5 Passable/Good
Contract 3.9 Good
OVERALL SCORE 3.8 Passable/Good

The card machines are for straightforward transactions, with the added benefit of working outside the UK. If you’re trading across the EEA and 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 cash withdrawals can make it more expensive than small-business alternatives like SumUp that also includes a business account.

The fact 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.

myPOS Go

Cheapest model, standalone

myPOS Go

myPOS Carbon

Many POS functions, prints receipts

myPOS Carbon