What does it cost to get started?
There is a significant cost difference for the PayMate Chip & PIN terminal, priced at £118.80 (incl. VAT), compared to the iZettle card reader, which can be bought for £49 (incl. VAT). In addition, there is a £1.50-a-week charge for the SIM card and support charges, which works out at an additional £78 per year, 51 weeks, (£93.60 including VAT). There is also a one-off joining fee of £99 (£118.80 incl. VAT) unlike iZettle, which is free to sign up with.
If you do not wish to buy the PayMate card reader, you can also rent the terminal for a deposit of £50 plus £3.00 per week, which includes the SIM card and support charges. However, over the course of the year, this works out to be £144 (£172.80 incl VAT). If you include the deposit of £50, this is £194 (£222.80 incl. VAT), so it is cheaper to buy a terminal. The difference in price between the PayMate terminal and joining fee compared to signing up with iZettle is £188.60 (and this excludes the SIM and support charges).