Our rating(3.7/5)
myPOS Smart N5 is a worthy card machine with an online account – how is it different?
myPOS Smart N5 is a portable, all-in-one card terminal with checkout features and apps for managing a business on the go. There’s no long-term contract, but various pay-as-you-go fees apply to the account and transactions.
  • Highs: Card-and-POS terminal in one device. No lock-in. Range of complimentary features. Works across Europe.
  • Lows: Payouts in bank account cost extra. Fees not that simple. Account holds. Inactivity charge.
  • Choose if: You want a touchscreen card terminal connected to a borderless online business account.

How it works

myPOS offers a good range of card machines, online payments and e-money account for small and medium-sized businesses.

As a European company based in Liechtenstein, its account features and terminals work across Europe regardless of where you signed up. This makes myPOS particularly useful for cross-border merchants.

The myPOS Smart N5 terminal is, according to myPOS, the company’s “most successful” Android terminal that can be customised with apps. These apps are the software for e.g. electronic gift cards, remote payments and sales analytics, making a complete payment system for mobile merchants.

Accepted cards

MastercardMaestroVisaVisa ElectronV PayAmerican ExpressJCBUnion PayContactlessApple PayGoogle PaySamsung Pay

All myPOS products come with a free online account, where transactions are settled directly, and a Prepaid Visa card. The web dashboard also has options for ecommerce, payment links and MOTO payments, and you can add additional user accounts, view transactions and print sales reports.

Costs and fees

myPOS does not have a fixed contract term with a monthly fee. Instead, you create a myPOS account, buy a card machine upfront and pay for transactions as you go. There are various fees for online transfers, refunds, cash withdrawals, chargebacks and more (below table only shows main fees).

myPOS cost
myPOS Smart N5 terminal price £299 + VAT
Shipping £10 + VAT
Account creation Free
Fixed monthly fee None
Commitment None
Cash withdrawals with myPOS card £2-£4 each
Transfers to UK bank account £3
Refunds £0.49
Chargebacks £24.99
Inactivity fee after 10 months’ inactivity £10/mo
Money redemption when closing account £15

Although there’s no contract lock-in, you have to pay an inactivity fee of £10 per month after 10 months of no transactions. This fee stops being being charged as soon as you accept the next card payment through the system. You should actively close the myPOS account to avoid this altogether, but it does cost £15 to redeem any money left in the online account upon closure.

Every new user gets a free myPOS Business Card (Prepaid Visa card), and you can request extra cards for colleagues for £5 each.

All transactions through the card terminal go straight to your online (‘e-money’) myPOS account within two hours, not your bank account. Transferring money to your UK bank account costs £3 per transfer and takes 1-3 working days to clear.

Transaction fees are determined by the brand of credit or debit card accepted, country of issue and whether it is a consumer, business or premium card.

myPOS transaction fee
Visa, V Pay, Mastercard, Maestro (EEA-issued consumer cards) 1.45% (offer for new users – it’s usually 1.75%)
All other credit & debit cards 2.85%
MOTO/Virtual Terminal payments 2.25%-4%
myPOS
transaction fee
Visa, V Pay, Mastercard, Maestro (EEA-issued consumer cards) 1.45% (offer for new users – it’s usually 1.75%)
All other credit & debit cards 2.85%
MOTO/Virtual Terminal payments 2.25%-4%

There are myriads of other fees related to international transfers and specific situations such as checking the account balance at a cash point.

Card machine features

myPOS Smart N5 is a wireless, Android-based terminal with built-in receipt printer, camera for barcode scanning and SIM card for mobile connectivity. It accepts contactless, chip and swipe cards and requires a WiFi, 3G or 4G connection to the internet (it does not work offline). It comes in red or white.

The 5.5″ touchscreen acts as your checkout screen, business hub and POS system in the same device through any combination of apps from the myPOS AppMarket. The card machine can be set to any of 13 European languages.

Credit: myPOS

terminal myPOS N5 Smart

The Smart N5 terminal accepts any card type and prints custom receipts.

The terminal can connect to an external tablet via Bluetooth if the other device uses POS software compatible with myPOS. Other than that, Smart N5 cannot connect to a cash drawer or other external POS equipment – it is made to be used as a standalone, mobile card terminal.

What about myPOS Smart?

There’s a similar terminal called myPOS Smart, also priced at £299 + VAT. What are the differences between that and Smart N5?

Advantages of myPOS Smart:

  • Can use GPRS

  • Is a bit smaller (5″ screen vs. 5.5″, 175.7 mm vs. 186 mm length)

  • Has a more powerful battery

Advantages of Smart N5:

  • Hardware is slightly better, Android OS is newer

  • Optional charging base is available