What do your POS system and payments cost?

Give providers the same figures

Tell providers how much guests pay and how many payments you accept. Show which payment methods guests use.

Also state the number of locations, POS stations and payment terminals.

The restaurant's total sales may be higher than the amount processed through one payment solution. Use the amount relevant to the solution you are considering.

Ask for a calculation for a typical period. Look at a quiet period and a busy one too.

This will show which costs are fixed and which increase with use.

Go through every cost

Write “included”, “extra” or “to be clarified” beside each item. Note where you found the answer.

• Percentage fee: Which payments does it apply to? What amount is the percentage based on? Ask how discounts, refunds, tips and value added tax (VAT) affect the calculation. Is the percentage the same for every payment method?
• Fee per payment: Is there an additional fixed fee for each payment? Ask what happens with refunds or failed payments. Also check the cost when several guests split the bill.
• Terminals and equipment: How many are included? Distinguish between purchase, rental and connection or servicing costs.
• Software and extra features: What is included for each location, device and user? Check the features you need, such as kitchen displays, online ordering and reports.
• Setup: Who pays for entering the menu, moving information and installing equipment? Include training and checking the first payout too.
• Daily operations: What do connections to other systems, help from the provider and usage-based extras cost? Who follows up if a connection stops working?
• VAT and invoices: Are costs stated with or without VAT? Who sends the invoice? Check that the same fee has not been included in several places.

Calculate each fee separately

Start with the amount the percentage fee applies to. Multiply it by the percentage and divide by 100.

This gives the fee in NOK.

Then multiply the number of payments subject to a per-payment fee by the price per payment. Add the other costs you have confirmed.

Make sure the same cost is not counted twice.

Here is a hypothetical example: the difference between two percentage fees is 0.20 percentage points. With NOK 1 000 000 as the basis, the difference is 1 000 000 × 0.20 / 100 = NOK 2 000.

Percentage points describe the difference between two percentage rates. This is not the same as a price change of 0.20 percent.

The example does not show any provider's rate or the price of a POS system. Other costs are not included.

Check VAT and payouts separately

Compare costs on the same basis: including or excluding VAT. Show VAT separately.

Do not apply the same tax rate to every cost without checking what each one covers. Ask the person responsible for accounting for help when anything is unclear.

The payment into the bank account is often called the settlement. It does not always equal sales in the period.

Ask for an example showing sales, fees, refunds and the date the money reaches the account.

Write down the questions that are still unanswered

Both quotes must cover the same needs before you compare them. Check that the necessary features and terminals are included.

Collect the remaining questions. Ask the provider to demonstrate how the most common tasks are handled with the setup in the quote.