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.

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)

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

Every merchant gets up to ten free myPOS Business cards to use in any store accepting Visa (additional cards cost £10 each) or for cash withdrawals.

myPOS Mini box content

With the myPOS Business Card, you can spend your takings in stores or withdraw cash (fees apply). Photo: myPOS

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

The e-money account makes this great for multichannel businesses. Several payment channels are possible such as SWIFT transfers, pay-by-link and payment requests (electronic invoicing). This is all integrated with the POS terminal payments, enabling a complete overview in your online account of all your business transactions.

In contrast to other merchant accounts, there’s no contract or lock-in with myPOS. PayPal – similarly offering instant access in an online account and a Mastercard on request – doesn’t require commitment either, but PayPal operates as an aggregator so you don’t have your own IBAN.

Are you a mobile hairdresser or barber? These 5 card machines are ideal

Over-the-phone payments

If eligible, you can have the myPOS Virtual Terminal activated in the account for Mail Order and Telephone Order (MOTO) payments. This feature is accessible on any device – whether desktop, tablet or smartphone in the myPOS app – and employee permissions can be set so only some team members can access the virtual terminal.

The virtual terminal has no monthly fees, just the card rate starting at 2.25% per transaction (exact rate depends on the type of card). This way, you can accept remote payments as an alternative to the payment links and electronic invoices available in the myPOS account. As with card machine payments, MOTO transactions are immediately settled in your online 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, small food-and-drink outlets, and particularly cab drivers who can integrate the myPOS Mini with dispatch software for taxis. If you need more features, the myPOS Smart devices can utilise third-party apps, provided they are developed for myPOS and made for Android.

Photo: myPOS

card machine selection in myPOS London store

In myPOS’s London store, you can view all the payment terminals and get questions answered.

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. Generally speaking, you can expect the UK service to be better than in other countries, since this is their most developed market at the moment.

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.

You can expect the UK service to be better than in other countries, since this is their most developed market at the moment.

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.

If you’re London-based, you can visit their London store to see the card machines in person and speak 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 solution.

The card machines are for straightforward transactions, with the added benefit of working in all EEA countries.

Bottom line: Ideal for those who need a mobile card machine connected to an online business account with instant access to funds.

myPOS Go

Latest and cheapest model, very basic design

myPOS Go

myPOS Mini

Premium version of Go, smallest device

black myPOS Mini

myPOS Combo

Bestseller, longest battery life, prints receipts

black myPOS Combo
Name of Reviewed Item: myPOS UK <