Merchant account for POS

[pre3psi]

Hello,

I want to look for a payment processor that will grant me a POS for my company based on consulting services, which will be paid monthly/annually. The value of the transaction can exceed 6-7 figures, and transactions are made in face-to-face meetings with clients at their/my location. The company is registered in the UK, but I would like to use a merchant account that accepts USD/EUR. Does anyone have any suggestions?

Best regards,

 

[Sols]

That just sounds like a bad idea, but if you insist and assuming you are based in the UK (resident), have a UK bank account, and the transactions take place in the UK, here are some popular options:

https://squareup.com/gb/en
https://www.zettle.com/gb/pos-systems
https://www.trustpayments.com/products/point-of-sale-payments/
https://www.lightspeedhq.com/
https://www.shopify.com/uk/pos
https://revelsystems.com/products/point-of-sale/
Some support DCC (Dynamic Currency Conversion) or multi currency processing. You might have to go through a sales cycle with them.

If you try to take the POS terminal outside of the UK, there's a significant risk that the terminal will be blocked. Accepting foreign cards is fine, though.

Most people that do something similar to what you're trying to do just email their clients a link from Stripe, Adyen, or other processor and take the payment online. For six-seven figure amounts, bank transfer is much more common.

 

[sebastian]

6 - 7 figures POS for consultancy serviced

 

[pre3psi]

Thank you for the answers. I will try to reach them!

 

[daniels27]

6 - 7 figures POS for consultancy serviced

His clients need turnover to get AMEX centurion.

 

[0xDEADBEEF]

His clients need turnover to get AMEX centurion.

OP or client is too kind for absorbing that ~3% in payment fees.

This motivated me to try and get my next invoice paid in cash with unmarked bills. Maybe even a dead drop.

 

[pre3psi]

Sorry for my english, i wanted to say 6-7 figures like 1000.47 or 10000.57, you understand the ideea.

 

[0xDEADBEEF]

Sorry for my english, i wanted to say 6-7 figures like 1000.47 or 10000.57, you understand the ideea.

In that case I finally understand why so many people claim to be making 6-8 figures.

Can I ask why you don't want to receive payments by bank transfer? It will still be hundreds of €/$ in fees if you take payments by card.

 

[JohnLocke]

Bank Transfers may indeed be better for such high amounts or crypto.