The Burden of Card Terminal Fees
For small shop owners, market stalls, and pop-up events, Credit Card terminals (POS) are a necessary evil. They charge you 1.5% to 3% on every single transaction, plus monthly rental fees. On a turnover of £10,000, you are giving away hundreds of pounds to the bank just to accept money.
Many customers are happy to pay via Bank Transfer (or Open Banking), but reading out your account number to a queue of people is slow, awkward, and prone to mistakes.
The Hardware-Free POS: Scan to Transfer
Paycilo provides a Printable Countertop QR Card. You place this on your desk or stall. When a customer wants to pay, they open their camera and scan the code.
Instantly, your Paycilo profile loads on their phone, displaying your Bank Account details. They tap “Copy,” open their banking app, paste the details, and send the money. You receive the “Payment Received” notification from your bank in seconds.
Why This Works for High-Speed Retail
- Zero Fees: Since the customer is doing a direct bank transfer, you pay 0% in processing fees.
- Speed: It is often faster than waiting for a card terminal to connect via 3G/4G.
- Payment Proof: Customers can screenshot the “Transfer Successful” screen on their bank app and upload it to your Paycilo chat for record-keeping.
Case Study: The Gadget Store
A phone shop in Ikeja uses Paycilo. Instead of typing account numbers into a customer’s phone (which is intrusive), the owner points to the QR code. The customer scans, pays via their bank app, and walks out with the goods. The shop owner saves the 2% fee they used to pay on every phone sold.