Exploring BDO POS Terminal Fees: An In-Depth Review

Imagine being a shop owner trying to make transactions as smooth as possible for your customers. Providing flexible payment options, such as a point-of-sale (POS) system, is essential in today's cashless economy. Of all the banks providing POS terminals in the Philippines, the Banco de Oro (BDO) stands out. For this post, we aim to dissect and understand BDO's POS terminal fees and how these can impact your business operations in the long run.

Your Stepping Stone to a Cashless Operation

For starters, a POS terminal from BDO allows your customers to pay conveniently using their credit or debit cards, encouraging more clients to complete their transactions with you. It's a leap to a cashless operation, beneficial for both shop owners and customers.

BDO's POS Terminal - What's the Catch?

Before we dive into the fees, it's essential to understand what you're signing up for when opting for a BDO POS terminal. Along with the terminal comes quality service, the brand's' excellent reputation, and high-level security measures to keep all transactions safe.

BDO POS Terminal Fees - What Are You In For?

Now, let's get down to the nitty-gritty and discuss the BDO POS terminal fees. One rule of thumb is that the rates are negotiable and can vary depending on the type and volume of your business.

Merchant Discount Rate (MDR)

The first fee to note when using the BDO POS terminal is the Merchant Discount Rate (MDR). It's' a cut taken by BDO for every transaction made using the terminal. Typically, the rate would range from 1-2% for credit cards, and 1% for debit cards.

Rental Fee

Aside from the MDR, another BDO POS terminal fee to consider is the monthly rental fee. It usually varies between Php 800 ?Php 1,000.

Installation Fee

Lastly, there's a one-time installation fee. This cost would also depend on your negotiation with the bank, but it typically ranges from Php 5,000 ?Php 10,000.

Break It Down

In a scenario where you have an average of 100 transactions per day with an approximation of Php 1,000 each transaction, the MDR costs would sum up to Php 1,000 per day. For the monthly rental, it might cost you Php 1,000, with an added installation fee that you have to pay upfront. These are valuable pieces of information you could use to make an informed decision whether availing a BDO terminal is feasible for your business.

While these numbers can be daunting at first glance, it is important to factor in not only the cost of the terminal, but also its possible benefits. Providing convenience and flexibility for your clients could potentially increase your sales.

In A Nutshell

Opting for a BDO POS terminal might seem like an enormous leap, especially with the BDO POS terminal fees that are associated with it. However, choosing to go with a BDO terminal not only means you're choosing quality service, but also banking on its security system ensuring every transaction made is safe.

Judging whether these fees are worth it will depend on your business operations and sales.\

Overall, it is a major decision that requires careful evaluation. Look at the broader picture; consider the benefits, and if they far outweigh the fees, then going for a BDO POS terminal might just be the gamechanger your business needs.