Our rating(4/5)
The myPOS mobile card machines are a no-contract alternative for merchants wanting instant access to funds.
myPOS’s card machines allow you to “access payments instantly” through 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 users.
  • Highs: Instant access to funds. Visa card and online account included. No lock-in. No monthly fees. You get an IBAN.
  • Lows: Transfers to bank account cost extra. Fees not that straightforward. No automatic settlement. Account holds.
  • Buy if: You want a cross-border, mobile solution connected to an online business account.
myPOS Go myPOS Mini myPOS Combo
myPOS Go black myPOS Mini black myPOS Combo
Price £29 + VAT £119 + VAT £199 + VAT
Delivery fee £10 + VAT
Transaction fee 1.45%-2.85%
Connection WiFi, 4G, 3G network (inbuilt SIM)
Size 136 mm x 66.6 mm x 20.4 mm 121 mm x 72 mm x 22.5 mm 162.5 mm x 80 mm x 56 mm
Weight 170 g with battery 165 g with battery 360 g with battery
Inbuilt receipt printer? No No Yes
Accepted cards MastercardMaestroVisaVisa ElectronV PayAmerican ExpressJCBUnion Pay
Contactless options ContactlessApple PayGoogle PaySamsung Pay
myPOS
Go
myPOS
Mini
myPOS
Combo
myPOS Go black myPOS Mini black myPOS Combo
£29 + VAT £119 + VAT £199 + VAT
£10 + VAT shipping
1.45%-2.85%
WiFi, 4G, 3G (inbuilt SIM)
136 mm x 66.6 mm x 20.4 mm 121 mm x 72 mm x 22.5 mm 162.5 mm x 80 mm x 56 mm
170 g with battery 165 g with battery 360 g with battery
Receipts via text Receipts via text Inbuilt receipt printer
MastercardMaestroVisaVisa ElectronV PayAmerican ExpressJCBUnion Pay
ContactlessApple PayGoogle PaySamsung Pay

Lowdown

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 a one-off price for the terminal and usage like 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) for the online myPOS account where your transactions go.

There is no automatic settlement to your own 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 your business’ transactions.

Image: myPOS

myPOS Combo with included data card

myPOS devices come with a SIM card with unlimited free data for anywhere in the EEA.

Mobile terminals for simple needs, with a few extras

The six card machines sold by myPOS have somewhat different strengths – but several similarities. They all connect with 3G or WiFi through a built-in SIM card that comes with unlimited free data valid anywhere across the EU. So yes, the devices are great if you travel a lot and frequently need to take payments in other countries.

If you’re looking to accept just simple payments, i.e. manually entering the total, then processing the card, the myPOS terminals would do. They accept tipping, multiple staff accounts and customised receipts, but their inbuilt POS features beyond this are limited.

Image: myPOS

myPOS Go card reader

myPOS Go is the cheapest (and least aesthetic) of all myPOS models, costing just £29 + VAT.

For more complex features, you can integrate with POS systems through APIs and SDKs (the myPOS website gives technical information on setting it up). With the myPOS Smart and Smart N5 devices, on the other hand, you can download feature-specific apps developed for myPOS users directly on the terminal screens.

The popular myPOS Combo and myPOS Smart devices have an inbuilt receipt printer, while myPOS Go, myPOS Mini and myPOS Mini Ice can only send receipts via text or email. Go’s, Mini’s and Mini Ice’s lack of receipt printing enables them to be smaller and roughly half the weight of the Combo and Smart models. What makes the Smart and Smart N5 stand out is their ability to download compatible third party apps via the App Market on the device.

Through any of the machines, you can sell mobile top-ups, request payments remotely and issue gift cards.

Why is myPOS Go so much cheaper than Mini?

myPOS Go is the newest of the card readers. It has the same functions as myPOS Mini, but a few things justify the higher cost of Mini:

  • Mini is smaller (121 mm x 72 mm x 22.5 mm compared to Go’s 136 mm x 66.6 mm x 20.4 mm). This is mostly because Mini has a slightly less powerful battery (1300 mAh vs. Go’s 1500 mAh).
  • Mini’s keypad is touch-button. The Go keyboard has push-buttons, which are not as easy to clean as Mini’s flat button surface.
  • Go looks a bit like an old calculator, while Mini is prettier. You pay extra for a more stylish card reader.

The question is: do you you care about these differences when it’s a choice between £119 and £29 and the card readers basically do the same things?

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 identify. 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’s straightforward to buy a myPOS terminal on the website or by visiting their London store.

Looks like simple fees, but there are catches

In some regards, myPOS have 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.

Their advertised transaction fee is usually 1.75% (1.45% on offer at the moment), but this applies only to consumer Visa, Mastercard, V Pay and Maestro cards issued in the EEA. Commercial cards by the same card brands cost 2.85%, even if they are issued in the EEA. The 2.85% transaction fee also applies to American Express, JCB, UnionPay, Bancontact and all non-EEA consumer and commercial debit and credit cards.

Type of card Transaction fee
Visa, V Pay, Mastercard, Maestro – EEA-issued consumer cards 1.75% 1.45% (temporary offer)
Visa, V Pay, Mastercard, Maestro – EEA-issued commercial cards 2.85%
American Express, JCB, UnionPay, Bancontact 2.85%
Non-EEA consumer & commercial cards 2.85%
MOTO/Virtual Terminal payments 2.25%-3.5%*

*+0.5% on some MOTO payments.

Type of card Transaction
fee
Visa, V Pay, Mastercard, Maestro – EEA-issued consumer cards 1.75% 1.45% (temporary offer)
Visa, V Pay, Mastercard, Maestro – EEA-issued commercial cards 2.85%
American Express, JCB, UnionPay, Bancontact 2.85%
Non-EEA consumer & commercial cards 2.85%
MOTO/Virtual Terminal payments 2.25%-3.5%*

*+0.5% on some MOTO payments.

In contrast to other mobile card machines in the UK, 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 a UK bank account.

myPOS cost
Card terminal £29-£299*
Delivery charge £10*
Setup fee None
Fixed monthly fees None
Payment with myPOS Business Card Free
≤£200 withdrawal from myPOS Business Card £2
>£200 withdrawal from myPOS Business Card £4
Transfer to UK bank account £3
SWIFT transfers From £3
Refunds £0.49
Chargebacks £24.99
Inactivity fee after 10 months’ inactivity £10/mo
E-money redemption when closing the account £15

*Excluding VAT.

myPOS cost
Card terminal £29-£299*
Delivery charge £10*
Setup fee None
Fixed monthly fees None
Payment with myPOS Business Card Free
≤£200 withdrawal from myPOS Business Card £2
>£200 withdrawal from myPOS Business Card £4
Transfer to UK bank account £3
SWIFT transfers From £3
Refunds £0.49
Chargebacks £24.99
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 £10 + VAT shipping charge on all myPOS card machines.