Spotlight on Retail Merchant Services’ (RMS) Offerings

Wednesday, April 17th, 2019

RMS is a merchant service that offers an array of products and services to retailers. The firm is a subsidiary of Elavon—its parent company. Apart from Chip and PIN machines, Retail merchant services also offer phone and online payment services, as well as software and tech, such as a virtual terminal, and online payment gateways.

eCommerce merchants can contact Retail merchant services on 0845 643 6397 or 01908 354 490 to find out more about their Virtual Terminal services. And all retailers looking to join the firm is entitled to this list of free benefits:

• A legal helpline at no extra cost
• A VAT and Tax insurance service at no additional charge
• Access to special rates for banking, and utilities through RMS’s Partner referral service

How Much Do RMS services Cost Pricing?

Retail Merchant Services does not publicly display its transaction rates on its official website. While it serves as a reseller, RMS has the freedom to set its fees. Minimum transaction fees start from 2.95% with an extra 10% or more per transaction, but most pricing terms depend on a firm’s history and risk.

According to retail merchant services reviews, a typical RMS agreement lasts three years through Elavon and automatically reintroduces to year-terms after completion of the 36 months. What’s more, RMS expects retailers to meet an annual PCI compliance fee worth £100 and a per-month fee for every service, like a payment gateway, virtual terminal and merchant account from £10.

Because these rates and fees differ across retailers, the best way to match prices with other service providers is to communicate with RMS for a custom-made quote.

Hardware Costs

Retail merchant services provide portable, fixed, mobile, desktop, GPRS as well as Bluetooth card machines from Ingenico and Verifone. While you can rent a card machine for a minimum of £20 per month, merchants should look forward to personalised quotes depending on the contract terms and the number of devices they hire.

Cancellation Fees

Retailers should pay £180 in fee for ending a contract prematurely. On top, a whole £96 in terminal refurbishment fee payable upon revocation. Clients should also be aware that RMS expects its customers to submit (in writing) a 30-day notice for the termination. But the worst that could happen to you is parting with over £1,000 after a cancelling a terminal lease.

Wrapping Up

Though RMS provides customer support via phone, email, and inquiry forms, some merchants have customers have claimed that these support avenues are not helpful to them.