These excessive charges from traditional banks and legacy providers don't stop there. Many businesses find themselves trapped in 48-month contracts with outdated hardware that belongs in the previous decade.
Fortunately, there's a better alternative. Teya has emerged as one of the UK's fastest-growing payment solution providers, trusted by thousands of merchants for its secure, reliable, and user-friendly card machines.
Unlike traditional providers, Teya has stripped away the complexity of merchant services with a transparent pricing model that adapts to your business size. Instead of a one-size-fits-all rate that penalizes growth, they offer tiered plans starting from just 1.69% for new businesses with no monthly costs, all the way down to 0.59% for established retailers.
In this comprehensive guide, we'll break down exactly what you'll pay for Teya card machine fees, explain their different pricing plans, and show you how to calculate your potential savings compared to traditional providers. We'll also highlight how Teya eliminates the "junk fees" that plague the industry – with £0 for PCI compliance, £0 for authorization fees, and £0 for minimum monthly service charges.
Understanding Teya Card Machine Fees
Teya has fundamentally changed how businesses approach payment processing with its straightforward fee structure. When exploring payment solutions for your business, understanding exactly what you're paying for is crucial to making the right choice.
What are Teya card machine fees?
Teya offers two distinct pricing models tailored to different business needs. The primary model is their "Blended Rate" system, which provides a single, easy-to-understand rate for all types of card transactions. This rate combines all costs from card issuers, schemes, and Teya's own fees into one flat percentage. With blended rates, if the actual processing cost exceeds your single rate, Teya absorbs the difference.
Alternatively, businesses can opt for the "IC++" (Interchange++) model, which breaks down each transaction into three separate components:
Interchange fee (paid to the card-issuing bank): 0.20% - 1.80% per transaction
Scheme fee (paid to Visa/Mastercard): 0.02% - 0.65% per transaction
Acquirer fee (Teya's fixed service charge)
How Teya's pricing differs from traditional providers
Traditional card machines typically burden businesses with multiple charges beyond the transaction fee. These often include monthly rental fees, setup costs, and annual PCI compliance charges.
Conversely, Teya structures its plans around business growth stages without hidden costs. Their entry-level "Start" plan comes with no monthly fees, making it ideal for new businesses. As merchants grow, "Boost" and "Thrive" plans offer progressively lower transaction rates with hardware discounts or free equipment.
Furthermore, Teya eliminates common industry fees such as PCI compliance costs, setup fees, and authorization charges. Businesses can change plans anytime without penalties as their needs evolve.
Why transparency matters in payment processing
Payment processing has historically been plagued by opacity. Many providers advertise low headline rates while concealing additional fees in contract fine print.
Teya's emphasis on "clear, honest pricing" addresses this industry-wide issue. Their transparent approach allows merchants to:
Budget accurately for payment processing expenses
Avoid surprise charges that can impact cash flow
Understand exactly what services they're paying for
Make informed decisions about payment partners
Consequently, merchants can focus on running their businesses rather than deciphering complex payment statements or negotiating hidden fees.
Breaking Down the Teya Pricing Plans
Teya offers four distinct pricing plans designed to scale alongside your business growth. Each plan includes a free Business Account and access to their Tap on Phone technology at no extra cost. Let's examine each option:
Start Plan: For new businesses
The Start plan is ideal for businesses just getting up and running. With zero monthly fees and a simple 1.69% transaction rate for consumer cards, it provides a cost-effective entry point into card acceptance.
This plan requires no long-term commitment, making it perfect for seasonal businesses or those with unpredictable sales volumes. All hardware options are available at full price, and like all Teya plans, it includes their free Business Account.
Boost Plan: For growing merchants
As your business expands, the Boost plan offers significant savings with a £19 monthly fee plus VAT and reduced transaction rates of just 0.99% for consumer cards. Additionally, this plan provides your first card machine at half price, saving up to £107.40 on hardware costs.
Notably, the Boost plan becomes more economical than the Start plan once you're processing approximately £5,000 monthly, offsetting the monthly fee through lower transaction costs.
Thrive Plan: For high-volume retailers
For established businesses with higher transaction volumes, the Thrive plan delivers maximum value with a £39 monthly fee plus VAT and the lowest transaction rate at just 0.59% for consumer cards.
Moreover, this plan includes one free card machine and 50% off your second device, potentially saving up to £214.80 on hardware. The Thrive plan generally becomes cost-effective when processing over £7,800 monthly.
Custom Interchange++ rates for large businesses
Businesses processing hundreds of thousands or millions in card transactions annually can benefit from Teya's Custom pricing. This plan uses an Interchange++ (IC++) model that provides complete transparency of transaction costs, broken down into three components: interchange fee (0.20%-1.80%), scheme fee (0.02%-0.65%), and Teya's fixed acquirer fee.
Essentially, larger transaction volumes give businesses more leverage to negotiate competitive rates specifically tailored to their processing patterns.
What You Get for the Price
Beyond competitive transaction rates, Teya provides substantial value across its plans. Your investment brings more than just payment processing capabilities.
Free or low-cost hardware options
With Teya, hardware costs decrease as your business grows. The Boost plan offers your first card machine at half price, whereas the Thrive plan includes one free card machine and 50% off your second device.
All devices come with lifetime benefits including free swaps for wear and tear, free delivery, and complimentary repairs and replacements. Particularly, if your device breaks or becomes damaged, Teya replaces it without additional charges.
No hidden charges: PCI, setup, or authorization fees
Teya maintains "clear, honest pricing" with no concealed costs. Unlike traditional providers, they've eliminated common industry charges including PCI compliance fees, setup fees, and authorization fees.
Furthermore, since customers enter their details on Teya's hosted checkout for online payments, Teya handles PCI compliance for you. This transparency extends across all pricing plans, with no lock-ins or small print.
Next-day payouts including weekends
Teya offers multiple settlement options to improve your cash flow. Through their Everyday Settlements feature, your funds are available the next day, including weekends and bank holidays. For businesses needing faster access, the Instant Settlement option makes funds available in seconds (subject to eligibility). Each settlement generates comprehensive reports, accessible via email and the Teya App or Business Portal.
Built-in business tools and integrations
Every Teya plan includes access to over 50 ePOS integrations. Their systems connect with leading POS providers, simplifying your operations. The Teya App and Portal provide unified tracking of both in-store and online sales, plus tools for monitoring expenses, transferring money, and tracking business performance. Recent updates have added features like payment links creation and enhanced sales analytics for spotting trends.
Comparing Teya to Other Providers
When considering payment processing options, comparing providers head-to-head helps you make an informed decision. Let's examine how Teya stacks up against alternatives.
Teya vs. traditional banks
Traditional banks typically burden businesses with complex pricing structures featuring numerous hidden charges and lengthy contracts. Indeed, many businesses find themselves trapped in 48-month agreements with outdated hardware.
In contrast, Teya employs a blended rate model that combines all processing costs into one straightforward percentage. Furthermore, if actual processing costs exceed your single rate, Teya absorbs the difference, offering certainty that traditional institutions rarely provide.
Teya vs. other card machine providers
Among Teya's primary competitors stands out with its tiered pricing approach. Although some alternatives offer transaction fees starting at 0.70% for UK payments, they often lack Teya's comprehensive package of benefits.
For instance, Dojo offers a "Fix Plan" with zero transaction fees up to £3,999 monthly, but doesn't match Teya's hardware incentives where Boost plan members receive their first device half-price and Thrive subscribers get their first device free.
How to calculate your real savings
The average UK business saves approximately £420 annually by switching to Teya. To determine your potential savings:
Compare total fees (not just transaction percentages)
Consider hardware costs across the contract term
Factor in settlement speed advantages (Teya's next-day settlements including weekends)
For high-volume businesses like restaurants processing £30k-80k monthly, savings can reach £3,000-6,000 yearly.
Conclusion
Choosing the right payment processor ultimately comes down to transparency, value, and how well it aligns with your business needs. Teya stands out in the crowded payment processing landscape by offering clear, straightforward pricing that adapts as your business grows.
First thing to remember, Teya's tiered approach—from the no-monthly-fee Start plan to the high-volume Thrive option—ensures businesses of any size can find a suitable solution. Additionally, as transaction volumes increase, the cost per transaction decreases, rewarding growth rather than penalizing it.
Perhaps most importantly, Teya has eliminated the industry's notorious hidden fees. While traditional providers often bury charges for PCI compliance, authorizations, and minimum monthly services in the fine print, Teya charges £0 for these same services. At the same time, their next-day settlement options—even on weekends and holidays—help improve cash flow, a critical factor for small businesses.
The savings can be substantial. With the average UK business saving £420 annually after switching, and high-volume merchants potentially saving thousands, the financial benefits are clear. Beyond cost savings, however, Teya offers considerable value through their free business tools, integrations with popular POS systems, and comprehensive sales tracking features.
Undoubtedly, when comparing Teya to traditional banks and other payment providers, their approach to hardware costs also deserves attention. Rather than trapping merchants in lengthy contracts with outdated equipment, Teya offers discounted or free devices based on your plan level, all with lifetime benefits including free repairs and replacements.
For businesses currently locked in expensive payment processing agreements, calculating your potential savings with Teya could be eye-opening. After all, reducing unnecessary expenses directly improves your bottom line, allowing you to reinvest those savings into growing your business.
Teya has essentially reimagined what payment processing should look like—simple, transparent, and adaptable to your business needs. Without a doubt, as consumer payment preferences continue evolving toward cashless options, having a reliable, cost-effective card machine provider becomes increasingly essential for business success.
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