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What are the payment processing fees? +
Once you activate the payment processing on your machine to accept customer orders, the following fees will apply:
- Monthly fee of $40/month (per machine)
- Processing fees of 5 cents + 5.95% of revenue for each order
Why are the processing fees that high? +
Our payment processing partner's fees are actually very competitive (if not on the lower end) for the vending industry. Because the average order is so much smaller in a vending machine than it is in a "brick & mortar" business (like a restaurant or retail store) the payment processors in the vending space have rates that range from 5-10% of revenue with monthly fees of $30-100+ per machine/account.
What payment methods does it take? +
Once you activate your machine with the operator's app you will be set to accept swiped card payments and tap payments with cards or smart phones. Our payment processing partner accepts Visa, MasterCard, Apple Pay, and Droid Pay — which covers at least 99% of what people will try to use.
Do I pay royalties or other ongoing fees? +
Nope, the payment processing fees described in the previous FAQ are the only fees you will pay to operate your machine.
What if my customer takes more than what’s preauthorized? +
So as the operator, you can specify the preauthorized amount that's "held" on the card in order to open the machine. So if you have valuable stuff in your unit, you'd want to "pre-auth" a higher amount (i.e. $10 or even $20+). That way, if the "settled amount" is more that what was preauthorized, you can at least collect the higher amount you preauthorized up front.
There is always a risk that someone will take more than what's preauthorized up front and you won't be able to capture that full amount, but this is extremely rare and not something to worry too much about. Also, if the preauthorized amount was higher, you should at least recoup the actual cost on the items pulled.
