myPOS Go review: basic design, but really cheap for an independent card reader

myPOS Go inseparable from e-account

myPOS Go is ordered directly from the myPOS website. Along with the card reader and charger, you get a business myPOS credit card delivered, which you can use everywhere accepting Visa. This is how myPOS stands out compared with competitors like Square and Zettle.

The payment card is linked to an online “e-account” where all transactions through the card reader are settled instantly. Some micro-entrepreneurs who do not yet have a business bank account may find this attractive – particularly because it is free to set up and there are no monthly fees.

The e-account, however, has some disadvantages. For example, although you receive an IBAN for international transfers, you have to pay a fee to transfer money to your UK bank account.

myPOS Go costs: cheap for a card reader with SIM

The purchase price of myPOS Go is attractive, but you also have to add the cost or delivery. At £39 + VAT for the card reader, it is much cheaper than SumUp Solo (£79 + VAT) and SumUp 3G  (£129 + VAT incl. printer) that also come with a SIM card and business account.

On top of the card reader price, myPOS adds a delivery charge of £6 which doesn’t have VAT applied.

The unlimited SIM data plan, valid across Europe, is included.

myPOS Go or SumUp?

How do SumUp’s standalone card readers, 3G & Printer and Solo, compare with myPOS Go? Let’s start with the highlights of myPOS Go:

• myPOS Go is cheaper and works with low network connections.
• Multiple user accounts: each user can have a login code, which is practical in theory, but not really relevant since this card reader is intended for individual merchants.
• Accepts JCB (Japanese) cards. This is good for cabs in touristy areas, but if you need to print receipts, we recommend SumUp 3G and Printer.
• Works all over Europe, contrary to SumUp which by default only works in the country of registration (although you can arrange foreign acceptance by contacting SumUp). This is interesting for some cross-border sellers or taxis.

However, the price difference makes sense because SumUp Solo or 3G & Printer have several advantages:

• SumUp’s terminals have a touchscreen, which could work better for entering an email address for a customer receipt.
• SumUp complies with PCI PTS v4 security standards (myPOS Go only complies with v3).
• SumUp’s 1.69% transaction fee is the same for everyone and all cards.
• SumUp automatically settles transactions in your bank account, and for free (myPOS charges £1.50 per payout, and this is manual). It should also be noted that some customers report account holds with myPOS.
• SumUp does not require a video call during registration, unlike myPOS. It is generally very easy to sign up with SumUp, while myPOS requires multiple steps and paperwork.

Our verdict

myPOS Go is a great-value card machine that does what it says on the box for a low upfront cost. It doesn’t need any extra equipment or a contract, and even comes with extra features – like payment links and cross-border transfers – in an online business account.

The complimentary Visa Business card gives immediate access funds, but you’ll have to transfer them to a bank account for a fee if and when this is needed.

The card reader is pretty basic and not the sturdiest quality, but the fact it works with low connections and across borders makes it convenient for travelling merchants. It doesn’t work with WiFi, though, so you’re reliant on the mobile network that the SIM card connects to.

Above all, myPOS Go is for merchants on a very small budget, but absolutely want a small, independent card reader that works everywhere. This will usually be sole traders or entrepreneurs who have not got a business bank account or company card.

Those working in several European countries may also be interested in myPOS, though not necessarily this entry-level model.