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How important are merchant services to my business?

The evolution of technology and culture is waiting for no one - Merchant services included...

So, with digital making our lives more convenient and more connected - companies and brands need to keep up with technology and culture to cater for customer expectations.

If your company is unable to accept forms of payment that your customer has become accustomed to, you lose out on sales. That's it.

If you plan on catering to the 4.5 million active credit and debit cards in Ireland, you're going to need a merchant service provider, or payment processor, to help you to securely and reliably manage your transactions.

man at bakery counter - considering card payment terminals

We Are Secure, Reliable, and Low Cost

IOC Save was created to help Irish SME's to save money on credit and debit car transaction fees. As Ireland's largest independent Merchant Service Provider, our number one goal has always been to provide the cheapest and highest quality credit and debit card machines in Ireland.

Partnering with 'World Pay' who are the largest payment processor in the world, we provide a selection of the most secure and reliable credit and debit card terminals available. We provide all device types needed including counter top machines, eCommerce POS systems, and portable card machines.

IOC Save are proud to represent Irish SME's, reducing payment processing costs by up to 40% for local and national businesses across the country.

If you’ve ever considered using credit card debt to start a business, there are a few considerations to be made. Although all credit cards come with debt, interest fees, and possible annual or miscellaneous fees, there are significant benefits to utilizing your card to get everything off the ground. A credit card is an effective borrowing tool to get your business off the ground.

Credit Card Debt - Business Funding

Conducting a Merchant Services Cost Saving Analysis

When it comes to accepting credit and debit cards at your premises or online - the demand for the facility is apparent. When it comes to getting the best services and price to accept credit and debit cards, it can take some attention to detail. It may be time to conduct a Merchant Services Cost Saving Analysis.

Conduct a cost saving analysis


This section of your business plan summarizes the structure of your business and is the life blood of your company. Without the proper management and budgeting set in place, your business could falter and ultimately close. The financial section of your business plan is imperative to not only everyday management but will also play a crucial role in any business loan or valuation assessment.

Keep a few guidelines in mind when organizing your financial strategies into your business plan.

Where is All My Money Going?

We’ve talked about it before – One of the most important success factors of any business is funding and cash flow! Perhaps you’ve set in place the perfect plan of action for your business - Sales are good (but more sales are always helpful), and expenses are kept to the absolute essentials.

You’re doing well but there’s always room for improvement. Additional cash flow would help you to take things to the next level…

But to create more sales you may require additional marketing budget, or maybe even brand-new products or services! That’s just not an option right now. So, you’re forced to look a little deeper to find that extra cash. Cash that will make a real difference to your business…

That’s easier said, than done…

But luckily, every now and then there’s that very rare occasion when the answer just lands square on your lap. Perhaps in an article written by a helpful merchant services company that just happened to be right on time…

excited man cheapest terminal card fees

The Big Loss of Accepting Cash Only - Keeping Up With Consumer Demand

As we continue toward a more technology-dependent future, we as business owners need to move along with it. One of the inevitable and ever-changing technologies that will affect every business are the various methods of payment that are either being transformed or brought to market month on month. These innovative and long-standing payment methods such as credit card, debit card, contactless, and mobile payments methods allow us all to transact with a broad demographic on a national and international level.

Payment methods are becoming more and more seamless, removing friction for the consumer and allowing for faster and more improved payment processing. As always there is a need for companies to keep with technology trends when it comes to serving their customers. Customers will tend to embrace new technology quickly – Companies who do not embrace new payment technologies risk missing out on sales and new revenue streams.


Pendulum Light Bulbs Image - Keeping up with Payment Technology

Debit Card Rate Change



Whats happening?

Card payments transaction fees, predominantly governed by Visa and Mastercard, are about to undergo significant change in the structure of how fees are charged, and this will affect all merchants currently accepting debit cards for their goods and services.

Card Processing Fees Historically

Merchants have been charged a flat rate fee for debit card processing (e.g €0.40 per transaction, regardless the value of the transaction.) In comparison, credit cards have been charged at a (pro rata) percentage of the card transactions (e.g. 1.95% of the value of the transaction.) From January 1st 2016, Visa and Mastercard will change from charging a flat rate for debit cards and implement a percentage fee for debit card transactions.

We are living in a digital age where instant gratification and ease of use are of high priority. There are 4.5 million active debit cards in Ireland, with 54% of Irish debit card owners using contactless payments. And yet, just 5,000 Irish businesses currently offer contactless payments.

The way of the future is to pay for things with contactless and non-cash forms of transactions, utilizing our devices and electronic technology. It’s already a core feature of our everyday lives, and it’s more important than ever to keep up.

Business owners and brands must keep up the pace with expectations and ever-changing demands of retail and service culture where payment methods and revenue model landscapes are ever-changing. Millennials are reaching a peak point in their lives where their careers and spending are at their highest. They’re actively adopting new forms of technology and they are changing the way we purchase. SME’s and digital payment methods need to keep pace with technology and digital payment methods in order to retain customers and continue to grow their business.

About IOCsave

We offer the most competitive rates in Ireland, our customer service is second to none, plus, the most important reason... We take care of your payments leaving you to take care of your business.

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