For many Irish businesses, card payments are an essential part of day-to-day trading. Did you know that merchant terminal providers could help you get a loan? It's definitely something to consider when choosing your merchant terminal provider; let us explain.
Whether you run a pharmacy, a sauna by the beach, AI solutions, automated services, hotel or online business, the payments you receive can also play an important role when exploring funding options.
If your business takes regular card payments, this includes online payments a Merchant Cash Advance Loan (MCA) from Linked Finance could help you access funding to support your next stage of growth. It's worthwhile considering future loan options when deciding on a merchant terminal provider. A Merchant Cash Advance (MCA) lets you repay your loan automatically through your card sales, with 10% of each eligible transaction going towards repayment, so repayments flex with the ebb and flow of your business.
In this guide, we look at some of the merchant terminal and payment providers used by businesses in Ireland, what to consider when choosing a provider, and how your card sales could help you explore flexible finance that moves with the ebbs and flows of your business with an MCA.
What is a Merchant Cash Advance?
A Merchant Cash Advance is a funding solution designed for businesses that receive regular card payments.
Rather than relying solely on a traditional term loan structure, an MCA takes your card sales and trading activity into account when assessing your business's funding needs.
At Linked Finance, our Merchant Cash Advance product is designed to help eligible Irish businesses access funding to support business growth, manage cash flow and cover important expenses.
An MCA could help your business:
- Purchase stock or equipment.
- Invest in marketing and attract new customers.
- Pay bills during tax season.
- Manage seasonal changes in cash flow.
- Renovate or expand your premises.
- Cover business expenses while you continue to grow.
Linked Finance offers MCA funding from €10,000 up to €250,000, subject to eligibility and credit assessment. The product is designed for businesses with card sales, with repayments structured around the product's agreed terms.
The key consideration: If your business processes card payments regularly, it may be worth exploring whether an MCA is suitable for your funding requirements. Please note that taking payment by revolut transfer will not work.
Best Merchant Terminals Providers in Ireland for MCA Loans
There are several payment providers serving Irish businesses, from established merchant acquiring providers to modern point-of-sale platforms and e-commerce payment solutions.
The right option depends on your business model, transaction volumes, fees, settlement arrangements and the features you need.
Here are some providers worth knowing about.
1. AIB Merchant Services (AIBMS)
AIB Merchant Services provides payment acceptance solutions for businesses taking payments in-store, online and on the move and most importantly is compatible with MCA business loan solutions. Its offering includes traditional payment terminals, Clover point-of-sale solutions and online payment services.
AIBMS states that it aims to settle payments within 24 hours for AIB customers, although actual settlement times can vary depending on the receiving bank and other factors.
For businesses exploring a Merchant Cash Advance, it is useful to understand how your card transactions are processed and how consistently sales are received.
2. BOI Payment Acceptance (BOIPA)
BOIPA provides payment acceptance solutions for retailers, hospitality businesses and other merchants. Its services include in-person terminals and online payment options.
BOIPA advertises next-day settlement, making it a provider worth considering for businesses that want predictable access to their card receipts.
If you are considering an MCA, your card payment history and overall trading performance may be relevant when assessing your funding options.
3. Stripe
Stripe is a popular payment platform for businesses accepting payments online. It supports e-commerce, subscription payments and other digital payment models, with additional solutions available for in-person payments.
Stripe may be particularly relevant to online retailers, service businesses and companies that generate a significant proportion of their revenue digitally.
When exploring funding, businesses using Stripe should understand their payout schedule and be able to provide a clear picture of their card sales and trading activity.
4. Toast
Toast provides restaurant-focused point-of-sale and payment technology. Its systems are designed to help hospitality businesses manage payments alongside other restaurant operations.
For restaurants, cafés and food-service businesses, an integrated POS system can provide useful visibility into sales and daily trading activity.
If your hospitality business is looking to invest in equipment, improve its premises or support expansion, an MCA could be worth exploring if you meet the eligibility criteria.
5. Elavon
Elavon offers payment processing solutions for businesses across retail, hospitality and other sectors, including in-person and online payment acceptance.
It can be an option for businesses looking for merchant services alongside their existing sales systems.
Before choosing a provider, compare its contract terms, fees, settlement arrangements and compatibility with your current setup. If you are considering an MCA, check what sales information is available to support a funding assessment.
6. Barclays / Payment Plus
Businesses may also encounter Barclays-associated merchant services and Payment Plus solutions when comparing payment providers.
Availability, product features and settlement arrangements depend on the specific provider and service being offered. It is important to confirm the details of your individual merchant agreement rather than assume all solutions operate in the same way.
7. Shopify Payments
Shopify Payments is integrated with the Shopify e-commerce platform, allowing online retailers to accept customer payments and manage transactions through their store.
It may suit businesses that sell products online and want their payment processing connected to their e-commerce operations.
Shopify's published guidance lists a minimum settlement time of three business days for Ireland, although actual payouts can vary.
For online retailers considering an MCA, understanding your sales history, refunds, payout schedule and overall trading performance can help you prepare for a funding conversation.
8. SumUp
SumUp offers card readers and payment solutions designed for small businesses, sole traders and mobile businesses.
Its straightforward setup can suit businesses such as market traders, independent retailers, salons and service providers that want to accept card payments without a complex POS system.
If you use SumUp, keep clear records of your sales and business finances so you can provide relevant information when exploring funding options.
9. Square
Square provides card readers, point-of-sale systems and payment tools for businesses including retailers, cafés and service providers.
Its solutions can be useful for businesses looking to combine payments with sales reporting and day-to-day business management.
For a business considering an MCA, consistent card sales and accessible transaction records can be useful when preparing for an eligibility assessment.
10. Payd
Payd is another payment solution businesses may encounter when comparing merchant services. Before choosing a provider, confirm its current Irish offering, settlement arrangements, fees and the reporting tools available to your business.
11. Zenoti
Zenoti provides business management and payment technology for sectors such as salons, spas and wellness businesses.
For appointment-based businesses, an integrated system can help bring bookings, customer management and payments together. If you operate in this sector, your wider trading activity and card sales may be relevant when considering funding to support expansion or investment.
12. AIB standalone terminals and e-commerce payment solutions
Some businesses use standalone terminals, while others accept payments through e-commerce gateways or integrated point-of-sale systems.
The distinction matters because the way payments are processed, reported and settled can differ between providers and products.
When comparing options, check whether the solution supports the way your business trades, whether it provides the reports you need and whether the fees and contract terms make sense for your transaction volumes.
Which merchant terminal is best for an MCA?
There is no single merchant terminal that is automatically best for every business seeking a Merchant Cash Advance.
Your ideal payment provider depends on your business model, how you take payments and the terms of your merchant agreement. A terminal provider alone does not guarantee that an MCA application will be approved.
When comparing payment providers, consider the following:
1. Settlement times
How quickly do card receipts reach your business account? Predictable settlement arrangements can make cash-flow planning easier.
2. Card sales and trading history
Choose a solution that gives you a clear view of your transactions and sales over time. This can help you understand your business performance and prepare supporting information for a funding application.
3. Fees and contract terms
Compare transaction fees, terminal rental, monthly charges, cancellation terms and any additional costs. A low headline transaction fee does not always mean the lowest overall cost.
4. Integration with your business
A restaurant may need an integrated till and payment system, while an online retailer may prioritise e-commerce functionality. Select a solution that works for your operations.
5. Access to reports
Make sure you can access the payment reports and financial records you need to manage your business and support a funding assessment.
How Linked Finance can help your business
If your business accepts card payments and you need funding to grow, Linked Finance's Merchant Cash Advance could be an option worth exploring.
Our MCA product offers eligible businesses access to funding from €10,000 up to €12 million, subject to assessment and the applicable terms.
Funding could help you invest in your business, manage cash-flow requirements, purchase equipment or take advantage of new opportunities.
Linked Finance also offers other business funding options, including term loans and BillPay, depending on your requirements and eligibility.
You do not need to choose a new payment terminal simply because you are exploring an MCA. The important first step is to understand your existing payment arrangements, your business's trading position and which funding option may be suitable.
Ready to explore your funding options?
If you run an Irish business that takes card payments and you are planning your next stage of growth, speak to Linked Finance about your funding requirements.
Our team can help you explore the options available and explain the information needed to assess your business.
Get in touch with Linked Finance today to discuss a Merchant Cash Advance for your business.
Visit Linked Finance to learn more about our business funding solutions or start your application online.
All funding is subject to eligibility, credit assessment and applicable terms and conditions. Funding amounts are not guaranteed. Merchant terminal features and settlement times vary by provider, product, merchant agreement and receiving bank. Confirm current terms directly with your payment provider.
