Guide
Auditing what you pay to take money.
Most restaurants can name their rate and cannot name their total monthly cost. Those are different numbers.
In short
Take three months of merchant statements, add every charge, and divide by total card turnover. That effective rate is usually higher than the quoted one because of terminal rental, PCI fees, authorisation charges and non-standard card types. The structural costs are often more negotiable than the headline rate.
Updated 28 August 2026
Calculate the effective rate
Every charge on the statement, including monthly fees, divided by card turnover. This is the only number that matters and it is rarely the one you were quoted. Do it across three months so a quiet month with a minimum fee does not distort it.
Where the extra usually comes from
Four places, and they are all easier to fix than the interchange itself, which is regulated and not negotiable.
- Terminal rental, often on a long contract
- PCI compliance fees, sometimes charged monthly
- Minimum monthly service charges
- Commercial and international cards, which cost more
Terminal rental is the common trap
Multi-year terminal rental agreements are frequently sold separately from the processing contract, roll over automatically, and cost more over the term than buying the hardware outright. Check what you are paying, what the term is, and when it renews. This is often the single largest recoverable cost.
Cash is not free either
When comparing, count what cash costs: time counting, banking trips, float management, and shrinkage risk. Cash has real handling costs that never appear on a statement, which is why the comparison against card fees is closer than it first looks.
The honest limitation
For most restaurants a small rate difference is a modest annual amount, so this is a tidy-up rather than a transformation. The structural items, particularly rental contracts and slow settlement, are usually worth more than the rate itself.
Questions, answered straight.
Not covered here? Just ask us.
Can I add a surcharge for card payments?
Surcharging consumer cards is restricted in the EU and the UK. Assume you cannot and check the current rules for your market before considering it.
Is a flat rate better than interchange-plus?
Flat is simpler and usually more expensive at volume. Interchange-plus shows the components and tends to be cheaper for anybody who asks for it.
How do I switch providers?
Check notice periods and any terminal rental term first, since those are where exit costs hide. Run the new provider alongside briefly if you can.
What about settlement speed?
Next business day is common and worth having. Slow settlement is a cash flow cost that never appears in a rate comparison.
See it run your restaurant.
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