You have made the decision! You are about to realize your professional dream: running your own business. Congratulations! There are a lot of arrangements to be made. You can probably tick most of the boxes by now, but have you thought about a payment solution?
As a starter, you want to be paid efficiently and quickly. You don’t have any turnover yet and prefer not to pay high investment costs. But how do you make a well-considered choice for your business from the wide range of existing payment options? We can help you out!
Should you opt for a payment terminal or a smartphone app?
Would you like to offer a multitude of payment methods to your customers? Then you may want to opt for a payment terminal. Our terminals accept all types of cards: debit and credit cards, meal vouchers, eco vouchers, etc. The wider the range of payment options available to your customers, the greater the chance of profit.
You could also opt for a smartphone app such as Payconiq, which allows customers to pay without a bank card via a QR code. Of course, they will have to download the app first.
The choice for a particular type of terminal is mainly determined by the sector in which your business operates and the way you intend to use the device. For stores with a counter, a fixed payment terminal is the most appropriate choice. Do you manage a horeca business, cab company or courier service? Then you will need a mobile terminal that you can connect to wifi or GPRS, an absolute must for businesses on the move. Then again, if you work in the retail environment, it’s best to use a cash-linked terminal.
Rent or buy?
In a start-up phase, beginners often opt for the rental of a terminal, because of the lower cost price. Maintenance is also included in a rental contract, which further reduces costs and ensures the continuity of your revenu source. For example, a defective device can be replaced by a new terminal within 24 working hours. This way, you won’t miss out on any sales. Is the company running well and do you need a different terminal type when expanding your workforce or activities? No problem. If the needs of your business change over time, a rental contract with us allows you to change terminal models easily and quickly.
But the purchase of a terminal also has many advantages. It comes out cheaper in the long run. Throughout the year we also regularly run interesting offers that reduce the cost price quite a bit. Maintenance is also completely free of charge during the first year. Furthermore, when purchasing a terminal, you benefit from an investment deduction of 13.5%, an advantageous tax scheme that reduces your tax liability. Until the end of 2022, there is even a one-off, additional deduction of up to 25% on the purchase price of your device (source: Unizo; August 2022).
Which type of contract?
At Axepta BNP Paribas, you can choose from two contract formulas: Flex and Classic.
If the average value of your shopping basket is less than 20 euros and you mainly expect payments with debit cards, then we recommend you to opt for a Flex formula. For no less than 19 euros per month (maintenance contract included), you can rent a terminal of your choice with a fixed transaction fee that suits your business. There are no surcharges at all, so you can enjoy a hopefully inexhaustible cash inflow.
Is your business located in a city or are a lot of payments done with credit cards? Then you can rent or purchase a payment terminal of your choice with the Classic formula, with the transaction costs fully tailored to your sales activities, adjusted per type of card and per transaction amount.
Although certain choices are repeatedly noticed with starters, every situation is different. A doctor’s office can be well served with both a fixed and a mobile terminal. This depends on alternating payment specifications: does the payment occur at the front desk within the practice or at the patient’s home in case of home visits? In order to guide you as well as possible and to provide you with advice tailored to your needs, do not hesitate to reach out to us.
Are you still hesitating to take the step as a starting entrepreneur? Then you may want to contact BNP Paribas Fortis’ start-up advisers. They can help you with plenty of tips.