Start Taking Card Payments - Get Quotes Today

Begin your free quote below

1. Do you currently have a merchant account?

Compare Quotes It only takes a minute
  • Complete a short form
  • Receive a free quote from leading suppliers
  • Compare prices and save

How much is a chip and pin machine?

Finally understand card machine costs, and find out which chip and pin machine is right for you

Chip and pin machines are a key piece of equipment for most small businesses – whether you run a restaurant, a shop, or any business in which you need to process card payments.

If you’re interested in getting a chip and pin machine for your startup, you’re likely to want to know how much to budget for it.
So, how much is a card machine? In this article, we explain what’s included in the card machine price and break down any other chip and pin machine costs, plus we walk you through the credit card machine rental costs.

For a quick-fire look at the cost of a card machine, here are the three cheapest options on the market:

Card reader Device cost (excl. VAT) Transaction fee
SumUp £29 1.69%
PayPal £34 1-2.75% (sale value dependent)
Square £39 1.75%

To compare quotes and find the right card reader for your business, be sure to use our handy online form to be put in touch with the right supplier for your business.

In this article, you will learn:

01 | How much is a chip and pin machine?

02 | Cheap chip and pin machines

03 | To buy or to rent? A comparison

04 | Next Steps: Compare card machine prices

How much is a chip and pin machine?

The total cost of a card machine includes the chip and pin machine costs (starting from around £30) and any extra card machine fees (which will depend on your sales and contract).

To calculate the cost of a chip and pin machine, you just add the card machine price to the credit card processing charges involved.

The total chip and pin machine costs will include the transaction fees, which will vary according to the sales you bring in each month (some card processing companies like PayPal charge different rates for different sales volumes) and any monthly costs in your contract (usually for services like chargebacks and invoices).

Card machine prices

The chip and PIN machine price range range spans between £30 and £300. This is dependent on whether you’re looking for something cheap and cheerful or for a state-of-the-art PDQ machine with all the bells and whistles. On average though, you’re looking at forking out around £50 for a new chip and pin machine.

Here’s a breakdown of the price ranges you can expect to encounter:

  • Basic chip and pin machine cost – £30 to £80
  • Mid-level chip and pin machine cost – £80 to £180
  • Advanced chip and pin machine cost – £180 to £300

For more information, be sure to take a look at our page that goes into detail on some of the best small business credit card machines on the market today.

Transaction fees

Credit card transaction charges usually sit between 1% and 3%.

But, what is a transaction fee?

A transaction fee refers to the small charge (usually of not more than 3%) that’s applied every time you take a credit or debit card payment via your chip and pin machine.

Major banks like NatWest apply a fee of 3% per transaction, whereas iZettle or Square have a flat rate of 1.75%.
Transaction fees will also vary according to the type of card and the payment method used. For example, Visa and Mastercard are the most commonly used debit cards, to which the base rate transaction fees within the contract are applied.

American Express, on the other hand, is often more expensive as the transaction fees applied to such credit cards are usually higher – making American Express costly for small businesses to accept (unless you have an iZettle or Square card machine, as they have flat rates).

To read a more detailed account of what credit card processing fees are, and how they might affect your profits on the day-to-day, take a look at our page specifically dedicated to credit card processing fees.

Monthly fees

Monthly fees don’t always apply, but when they do, they depend on the type and number of chip and pin devices you have, as well as the nature of the contract with your processor.

You may have a minimum amount you will be charged each month, even if your transactions do not raise much in fees. Typically, this will fall within the region of £10 to £20 per month.

There’s more to card machine costs than meets the eye. Don’t forget to budget for any upfront costs, transaction fees and usage fees.

Here is a summary of the main card machine fees:

  • Upfront costs – These are almost always just the cost of your chip and pin machine
  • Monthly fees – Monthly fees don’t always apply, but when they do, they depend on the type and number of chip and pin devices you have
  • Usage fees – How much it costs to use a chip and pin machine is outlined in your contract, and includes minimum monthly charges and chargeback fees

You’ll need to talk directly to your device provider to come up with exact chip and pin machine quotes for your small business, to do so, simply fill in the form at the top of this page and we’ll find some tailor-made quotes, designed with your business in mind.

Cheap chip and pin machines

We’ve tracked down some of the cheapest card machines in the UK.

Small businesses and startups want to be keeping as much of their hard-earned cash as possible, and have the flexibility to chop and change contracts according to their growing businesses.

Chip and pin terminals from the likes of iZettle, Square, SumUp, Worldpay and PayPal are now making it cost-effective even for start-ups and low volume businesses to take card payments.

Here are five chip and pin providers perfect for businesses on a budget:

Card Reader Device Cost Transaction Fee
iZettle £59 (excl. VAT) 1.75%
square logo £39 (excl. VAT) 1.75%
sumup logo £29 (excl. VAT) 1.69%
worldpay logo £69 (excl. VAT) 1.95% – 2.75%
(depending on sales)
paypal here logo £54 1% – 2.75%
(depending on sales)

For a more precise and financially accurate figure, fill in the form at the top of the page and we’ll provide you with a range of tailor-made quotes from providers suited to your startup.

Card machine price comparison

Hypercom Optimum T4210 portable chip and pin machine cost: £150

Hypercom Optimum T4210 For between £150 and £160, Hypercom's Optimum T4210 chip and pin machine is an ultra-speedy mid-range card payment terminal for small businesses in a range of sectors.

This card machine includes a printer and keypad, as well as a quality screen with easy-to-use buttons to help both staff and customers process payments efficiently.

EFT Vega3000 countertop chip and pin machine cost: £300-£400

EFT Vega3000 EFT's Vega3000 chip and pin terminal is another great choice for small businesses. It costs around £300-£400, but is flexible enough to be used in a wide range of businesses and sectors.

This is one to impress, with a colour screen and large, user-friendly buttons. This card machine makes paying by card extra-smooth for customers, and it looks the part, so you won't be turning anyone off with security concerns.

Ingenico iWL250 wireless chip and pin terminal cost: £350

Ingenico iWL250 Ingenico is a leading card processing provider, and you've probably already had your hands on one of these chip and pin terminals as a customer yourself.

The Ingenico iWL250 is a robust card reader at the top end of the quality scale, and as a portable card reader, it's perfect for helping businesses take payments flexibly – such as in bars or restaurants, where you can bring the terminal to the customer.

iZettle card machine cost: £19

iZettle The iZettle chip and pin machine usually costs £59, but we have a special Startups discount, so you can get it for just £19 all-in (that’s all you’ll ever pay).

iZettle combines an easy-to-use little device with transparent pricing (no monthly fees and one fixed transaction rate of 1.75%).

Also included free is the iZettle app for Android and iOS, daily reports, and customer phone support.

Full iZettle review

Square card reader cost: £39

Square Card Reader Cost The Square card reader is one of the cheapest card machines at just £39 new.

On top of that, you only need to factor in affordable transaction costs of 1.75% for inserting, swiping or contactless card payments or 2.5% for manually keyed-in transactions.

Full Square review

SumUp chip and pin machine cost: £29

sumup air chip and pin machine The SumUp card machine is one of the most affordable at just £29 – plus, it’s homegrown in the UK, and comes with a great app and reliable support.

SumUp is also the chip and pin provider with the lowest transaction fees of 1.69% (nearly half the 3% rate offered by traditional banks), so it’s one for small businesses on a shoestring. As with iZettle, there are no monthly tie-ins or hidden fees.

Full SumUp review

Worldpay card machine cost: £69

worldpay card machine WorldPay is the UK’s number one card reader, and costs just £69, though the transaction charges are less competitive at 2.75%.

The Worldpay chip and pin machine stands out, as you can use it without wifi (payments are processed once you come online again). That means it isn’t quite as cheap as the rest of the batch, but for some small businesses that’s a small price to pay for not losing out on sales.

Full Worldpay review

PayPal chip and pin machine cost: £34

Paypal Card Reader Cost The PayPal Here card reader is usually £54, but you can get 20% off with the promo code HERE20 if you buy it here.

PayPal works out the cheapest card machine for high-volume businesses – for monthly sales topping £6,000, it’s 1.5% and if you’re bringing in over £15,000 a month it’s only 1% in transaction fees.

Full PayPal Here review

Bigger doesn’t always mean better when it comes to chip and pin machine providers, so it’s a good idea to check out our full list of the UK’s best card machines for small businesses.

Chip and pin machines: Buying vs renting

Whether it makes sense to buy or rent a card machine depends on your appetite for flexibility as well as your individual business set-up.

Buy a card machine?

Chip and pin machines don’t have to cost the earth, and getting your own device will often save you in the long term with no monthly commitment or exit charges.

These are the pros and cons of buying a chip and pin machine:

✅ No monthly commitment
✅ Cheaper long term
✅ Pairs with EPOS system
✅ Your device, your rules
✅ Competitive advantage
✅ You pick the best device
❌ Initial costs
❌ No replacements
❌ Can go out-of-date

Rent a card machine?

Long or short term card machine hire is a popular option for small businesses. Perhaps you only work seasonally, or you just like the added maintenance and support that comes with renting equipment.

These are the pros and cons of card machine hire:

✅ No purchase costs
✅ Maintenance included
✅ Ideal for short term use
✅ Support team on hand
✅ Latest device renewals
❌ No ownership
❌ Higher costs long term
❌ Contract lock-ins
❌ Possible exit fees

Chip and pin machine costs: In a nutshell

Chip and pin machines can be as cheap or as features-packed as you want them. The average card machine cost is £50, but we at Startups can help you get the best deal.

By reading this article, you’ve learned more about card machine prices and the other related chip and pin machine costs. Plus, we’ve outlined the pros and cons of buying or renting card machines and profiled some of the cheapest card machine providers available.

If you’re ready to compare card machines, we’ve made a personalised quote-finder for our readers at the top of this page.

Next Steps: Compare card machine prices

To get custom quotes from some of the UK’s best chip and pin machine providers, check out our easy quote-finder.

If you’re keen to find the best chip and pin machine for your business, the next step is to get talking to suppliers – and Startups can connect you.

It’s free to find your best card machine providers: just tell us what you’re looking for, and your card machine matches will get back to you personally with their best offers, so you can compare all your options.


(will not be published)

Get the latest Startup news and information