There are many solutions for micro businesses to accept payment easily with no commitment. But as a medium or large business, there are limited options to get a modern and flexible payment terminal solution.
The European fintech Yavin aims at providing established merchants with a complete in-store payment solution, with no-commitment and last generation Android payment terminals. They have now equipped more than 1000 businesses, and started operating in Ireland in early 2022.
Is the new Yavin Terminal offer really worth it, and could this be a relevant solution for your business? We tried Yavin’s solution for you, to help you assess their offer and choose the best terminal for your business.
|+ No commitment
+ Competitive transaction fees
+ State-of-the-art terminal and features
|- Monthly fee
- No PoS software included
- No support on weekends
Get started with Yavin now - link to offer
Getting started with Yavin
Getting started with Yavin is quite straightforward. You simply have to go to their Irish website and buy your terminal online. Yavin will only ask you upfront for your contact details and address to deliver your terminal.
Once you have ordered your terminal, the Yavin team will follow up in the next hours to ask you for the legal documents required to set up the terminal for you: company registration certificate, IBAN to receive funds, etc. After you send back all documents required, your terminal is usually shipped within 24 hours with a tracking link.
When you receive your payment terminal, you simply have to turn it on to start accepting payment. There is no installation set-up fee. Funds are transferred directly to your bank account within 2 business days after your first collections.
Yavin Terminal: mobile and complete
Yavin currently offers one single model of payment terminal in Ireland, called the Yavin Terminal. Available online for €199, it is a sleek mobile Android terminal with a touchscreen and integrated printer. It can connect through 4G or Wi-Fi, and comes with a 1-year warranty.
The Yavin Terminal can accept most types of cards, including Visa, Mastercard and American Express. It also does contactless with cards and most mobile wallets, including Google Pay and Apple Pay. Payment methods like Discover, JCB, and Union Pay are not supported.
The Yavin Terminal is synced with your MyYavin account, an all-in-one online platform to manage your terminals, monitor transactions and payouts in real time, and access business insights.
Pay-as-you-go offer with no lock-in
Yavin's conditions are publicly available on their website. Once you have bought your terminal, the following terms apply:
- Monthly fee: Yavin charges a monthly €29 'MyYavin fee', giving you access to all Yavin features and to their competitive transaction rates. This service fee can be paused and resumed at any time if you stop using your terminal.
- Transaction fees: for all transactions, Yavin charges interchange+ 0.5% + €0.05. Interchange is the real cost of the transaction, charged by banks and card networks, typically around 0.3%. According to Yavin, the majority of their merchants pay about 0.8% per transaction on average.
- Lock-in: N/A - Yavin has no contract or lock-in clause. You can stop using your terminal at any time and nothing will be charged.
If you are familiar with Square or SumUp, you will find Yavin’s model is quite similar: you buy your card reader upfront, and will then be charged only when you use it. There are 2 notable differences:
- Yavin charges a monthly fixed fee, including access to their services and lower rates.
- Yavin doesn’t apply blended commissions, but rather uses variable transaction rates based on interchange. This enables them to charge lower transaction fees for most common payment methods.
Features and integrations
As part of the €29 monthly fee, Yavin gives you access to the MyYavin platform to monitor transactions and payouts, and provides live customer support on weekdays. This also includes built-in Yavin features, and integration with third-party apps.
The Yavin Terminal comes with several built-in functions to help you operate seamlessly and improve your customer relationship. These include digital receipts, tipping, Google and TripAdvisor reviews, and more. These features can be added directly in your terminal settings.
In addition, Yavin has an open architecture, meaning it can connect with most other in-store tools such as PoS, loyalty programs, accounting software, etc. The Yavin Terminal can therefore integrate with your existing stack of tools to make payment seamless.
It is important to note that Yavin does not offer other business solutions such as PoS, inventory management, etc. Unlike Square or SumUp, who offer complete business tools, Yavin aims at focusing on payment and integrating with other best-of-breed solutions, rather than replacing them.
Verdict: a complete, no commitment solution
|Card reader||Yavin Terminal - €199
4G/Wi-Fi, touchscreen, printer
|Transaction fees||0.5% + €0.05
pause/resume at any time
|Cards||Visa, MasterCard, American Express|
|Contactless||Cards, Google Pay, Apple Pay|
|Time to access funds||Up to 2 days|
|Live support||Monday-Friday: 8am - 7pm|
|Link to website||Start with Yavin|
The main strengths of the Yavin Terminal are no doubt its no commitment terms, modern terminal and competitive rates.
As a starting business, Yavin might not be the best solution for you. You can find more suitable options with affordable devices and no monthly fees with the likes of Square or SumUp.
As a more established merchant, you should definitely have a look at Yavin’s offer, as they can provide you with a great product with no commitment and transparent fees. We recommend you compare it with quotes you can get from other providers like AIBMS, Elavon, etc. to see what is the most interesting option for your business.
As you might be able to negotiate lower rates with other providers, you could lose flexibility, as many traditional offers are quite committing. When choosing your payment terminal, remember to take into account all terms of the contract, including commitment, set-up and service fees, terminal rental, etc.
Get started with Yavin now - link to offer