FAQ on your payment solution

Nets' vision is to simplify everyday life when it comes to payments

We believe that it should be easy for merchants to accept payment. There are many other payment providers on the market offering both more and less complex payment solutions with various price models. Some of them with unclear prices and hidden fees. Therefore, it might be difficult to understand the exact price per transaction when your customers shop in your store or webshop. At Nets, we strive for full transparency. On this page we will help you keep track of the different concepts from the payment world.

Choose one supplier for all your payment needs

The payment landscape is constantly evolving. New functions and simplifications of payments take place continuously. For you as a merchant, it can be difficult to keep up with developments and always have an updated payment solution for your business. There are also times when you have different, more or less modern payment systems, which are interconnected and where it can be difficult to get out of old IT routines. A good tip is therefore that you review your existing payment solution and start by gathering the various solutions, for example, payment terminal and e-commerce checkout with one supplier to ensure maximum flexibility and compatibility, as well as only having a single point of contact in the need of service, support and analysis of data.

Is it best to buy or rent a payment terminal?

Regardless of which payment terminal you choose, you must choose whether to buy or rent it. As it is a relatively large cost to buy the terminal, most people choose to rent it and pay the rent monthly. It's a good way to have control over the cost. In addition, if you rent the terminal, free updates and replacement service in case of a broken terminal are often included. In addition, several other value added services can of course be tailored within the framework of the lease. Many of these services will therefore not be included if you choose buy the terminal separately.

What is a transaction fee and what is the transaction cost?

To receive payments via card, you need an agreement with a card acquirer such as Nets. Nets handles the transaction for the card purchase and a so-called transaction fee is then paid. Nets works with different levels of packages for their payment solutions, Small, Medium and Large.

Depending on which package you choose, different levels of transaction fees are charged, one fixed per transaction and a fixed percentage of each transaction amount. The different packages include different services that are adapted to your business and needs. You may e.g. choose a larger package because you value customer service 24/7. Our advisors are experts in assessing what is best for your specific business.

What cards can I accept in my store?

As you probably know, there is a jungle of different debit and credit cards on the market, of which Visa and Mastercard are among the most used. However, there are other very well known and used cards like American Express, JCB and Discover just to name a few. There are also so-called co-branded cards such as Diners and EuroCard. Local cards also appear in the Nordic region, including Norway and Denmark, where Dankort is extremely popular in Denmark. As a merchant you can accept all the cards you want, but it's a good idea to consider which ones that best suits your business. If you e.g. have many tourists from Asia you might want to accept JCB and Discover not to miss out on valuable sales. Keep in mind that customers often choose stores that accept the cards they prefer to pay with.

Why do I need to pay a start up fee?

When you sign up for a payment solution, a start-up fee is often added. You might be wondering why? The explanation is simply that in order to activate an agreement for a payment solution there is quite a lot of work behind it. This can e.g. be an assessment of your credit information and business model. In addition, an assessment of the number of expected (or existing) transactions as well as programming and activation of the payment terminal and acquiring agreement is needed. You need both a terminal and an acquiring agreement to be able to accept payments in a physical store.

Do I need to pay for support?

All merchants are different and some need more support than others. That is why Nets' customer service offers 24/7 support as an option. If you can do most things on your own, a simpler and cheaper agreement may be best, where customer support is only included on weekdays. Different businesses have different needs. The level of customer service is based on what payment solution package you choose, Small, Medium or Large. Talk to our advisors today to get the right payment solution for your business.

Can I see all my transactions and sales numbers?

If you have a complete payment solution through Nets, the award-winning analysis tool MyNets is included, completely free of charge. MyNets is a portal specially developed for you as a merchant so you can track transactions and sales for your business. You can also gain valuable insights about your business, such as when during the day you have the most customers or from which country most of your tourists come from. This valuable data can help you make strategic decisions about your business and increase your sales.