SnapScan lowers its card machine transaction costs to help small businesses thrive

Increased fuel costs, interest rate hikes, and continuous loadshedding; there’s no doubt that small business owners are feeling the pinch.

While costs associated with doing business are increasing, SnapScan is bucking the trend by reducing the transaction fees for businesses that accept payments via their new SnapStore card machine.

Backed by Standard Bank, the SnapStore card machine is an all-in-one device that allows businesses to make sales and manage their transactions on the go.

This sleek device functions like a smartphone, processing payments in seconds whether it’s tap, swipe, insert or scan.

With the Snappy 2.5% offer, SnapScan not only makes it easier for business owners to accept payments, they’ve made the SnapStore card machine more accessible to business owners struggling to keep up with rising costs.

Simple payments, simpler pricing

When businesses sign up for the snappy new card machine, they’ll immediately get access to the best possible transaction rate: 2.5% excl. VAT.

The 2.5% excl. VAT transaction fee is a fixed rate that small businesses will benefit from as long as they continue processing transactions via the SnapStore card machine.

Here’s how this low rate will help businesses stay afloat:

Get more out of every transaction

Businesses will receive more of their hard-earned cash by paying less for their transaction fees. They can use the extra funds to pay off some expenses, buy additional inventory or invest in new tools to accelerate their growth.

Only pay when you earn

Say goodbye to contracts and monthly fees. Aside from the once-off cost of the SnapStore card machine, the only fee business’ pay is the small transaction rate of 2.5% excl. VAT.

While some payment providers offer transaction fees below 2.5%, these are often structured around device rental, monthly account fees, loans with high interest rates, or whether businesses earn a specific monthly turnover.

SnapScan's fixed 2.5% excl. VAT is a transparent fee model to simplify the calculation of a business’ total transaction costs.

Get access to your money quicker

Improved cash flow is another benefit businesses will enjoy when they purchase the SnapStore card machine.

SnapScan settles every business day. Businesses who bank with Standard Bank will receive their money the next business day, while businesses who bank elsewhere will receive their money in one to three business days.

Ready to watch your business thrive? Sign up for a SnapScan merchant account today, and order your SnapStore card machine to get more out of every transaction. Alternatively, click here to learn more about the card machine’s capabilities.