Everything You Need to Know About Credit Card Readers

If you're considering Credit Card readers for your vending machines, then this video is for you! I discuss what you need to consider before purchasing credit card readers and how to get started with them. I also go over my current frustrations the Nayax company.

The Two Big Credit Card Reader Companies:

Chapters:
0:00 Introduction
0:32 Are you Making Enough Money?
0:52 Credit Card Reader Expenses
1:54 Nayax vs. Cantaloupe
4:01 My Nayax Readers All Went Bad
5:42 VPOS Touch Unboxing
8:32 Nayax Software Tour
11:30 Nayax Billing Statement
13:22 Tip: Call Both Companies Before you Buy
13:52 Does your Machine Have MDB?
14:34 Unplug Your Machine Before Install!
18:22 Removal/Why I’m Disappointed with Nayax
24:12 How I’m Going to Install the VPOS Touch
25:22 Making the Modifications Montage
26:22 New POS Window Reader Setup
26:31 Installing the New Reader
26:58 Finishing the Installation
28:57 The Finished Product
30:58 Used Equipment Warning
31:40 Beware of Contracts
32:00 Two Tier Pricing
32:52 Testing the Readers Race

[HappyVending]

Video Chapters now added in the description!

[VSQUAD]

One thing none of these videos ever talk about is the sign up process! Do I need to be a registered LLC or Sole Proprietorship to own one of these devices? If I bought a vending machine that has this device on it, do I need to gather anything from the previous owner? Everyone jumps into how to screw in the thing onto the machine, but if I don't know how to setup the software and have the money go into my account, what's the point?!?!

[scottchef]

This is a great video.
Super detailed oriented. I love it. You are like the Mr Rogers for vending machines.
I'm just starting my vending machine journey and before I purchase a machine, I am doing all of my homework.

[crispratt]

I’ll probably invest in a card reader soon. Someone drilled holes for a reader on the plexiglass high up on the machine, but I’ll probably buy a VPOS with bill validator to replace my main validator, which I also think is better because my current one only accepts $1 bills.

Btw, if your old readers run on 3G, then that’s why they all stopped working because they’re taking 3G offline; now you’ll need 4G.

[g.lancebell]

What I liked about your video is that it was real, I am just like you, I learn from my mistakes and then the next time it’s always much easier, faster, etc. Thanks again

[martinmallet]

11 minutes and I've gotten so much information. I've yet to purchase my first machine. Really thinking about getting one for my jobsite.

[DiegoSayron]

Your videos are so useful!
32:18 In Brazil it is legally acceptable to add some value to the price if the customer pay in credit/debit card.

[dennissmithjr.]

Great video Bill, I really learned a lot on this one, thanks very much. I have been trying to decide which credit card processor to use for my machines and now I know.

[rayarsenault]

4:49 many readers of that age were 2/3G, and were sun-setted by the carriers.

[kleex_the_original]

In Switzerland the devices (converted into dollars) cost around 1000. + activation around 600. The monthly costs are around 25 but the credit card fees are lower at 3%. A device like this really only makes sense in very well-frequented places.
I would be happy if the Nayax, and all fees, cost as much as it does in the US

[brianiswrong]

Easiest way to tell if your machine is mdb or exec protocol is to see how many leads from your coin mech are plugged into your board/ loom

1 lead only from the coin mech plugged into your (working) machine is mdb.

2 leads from the coin mech to you (working ) machine to the loom or board, you have exec.

[rayyoung]

Wish I had access to a full shop on-site at my locations. Kudos

[BobDarlington]

Apologies if this is redundant, but it's a major safety issue to use gloves with those power tools. If you catch skin in a drill or grinder, it hurts. If you catch a glove, you lose parts of your hand.

[Harrisondoescoinreviews]

Get a cantaloupe card reader. Faster costumer service. Better costumer service. And over all really pleased with the product.

[DannyK]

I'm used to paying with Google Pay / credit card on vending machines
and I don't even mind the extra 20 cents fee it charges
I call it a convenience tax

[runitupron]

I’m a new vendor got all my paperwork in line and 4 locations should be putting machines out this next month great video new friend I’ll be making my own vending videos soon

[bennettburnside]

This straight forward and helpful. Thank you for making it.

[davidfantauzzo]

Great video! You can 3D print the spacers you need very easily.

[stevelewis]

Great info. I was confused as to which reader to go with. This has pushed me in the opposite direction to Cantaloupe.

[pablohierro]

How important is to get to know the methods of payments worldwide. In USA is a hot place to learn how to get more technological.

Even all the problems that might pass trough USA in modern times, there are good people, who perceive in work. Thanks for the knowledgeable provided