5 Cheapest Merchant Services in The UK

Tuesday, July 31st, 2018

When merchants are starting out, the best merchant accounts for small businesses are the cheapest merchant services UK. Finding the right merchant account is not only time consuming, it is overwhelming. We have taken the guesswork out of it by finding the five cheapest merchant services UK.

Most Affordable Merchant Accounts

First Data Merchant Account

In addition to more than 20 years of experience, First Data has worldwide reach and localized knowledge to offer card processing services for businesses of all sizes. Its merchant services include mobile, contactless, and portable card terminals, as well as online e-commerce solutions. First Data has the ability to integrate payment gateways into businesses’ websites, which can help merchants collect more customer data through an application processing interface.

First Data charges a monthly gateway fee of £15 for 500 online payments and variable transactions fees for volumes that are more than 500 transactions. Additionally, it charges a joining fee, and fees for a virtual terminal, and portable, countertop, and mobile machines. It doesn’t offer fraud risk management or 24/7 customer support.

PaymentSense Merchant Account

Based in the UK, PaymentSense is the merchant account provider that specializes in working with startups and small businesses. Currently, it partners with more than 50,000 small businesses.

Paymentsense is competitive due to its low card rates, and it is the only UK provider to offer capped contracted rates. In addition to its many packages, PaymentSense offers a merchant account and payment gateway, online tools for fraud screening and reporting, digital invoices, more than 40 shopping carts, and no fixed contract.

WorldPay Merchant Account

A leader merchant account provider, WorldPay enables secure, reliable transactions for more than 300,000 small businesses. It offers wireless, GPRS, and static desktop terminals, as well as virtual terminals.

Flexible pricing plans are tailored to merchants, and, therefore, no joining fee is charged. Depending on the plan picked, merchants pay between £0.00 and £49.99 per month plus transactions fees.

WorldPay is fairly open with pricing. For instance, it charges:

• £150 terminal administration fee for face to face transactions
• A gateway fee for a 10p per transaction for online transactions
• Phone payments are £9.95 per month
• Email payments are £9.95 per month
• PCI Annual Management fee is £29.99

Also, WorldPay charges no joining fee.

Payzone Merchant Account

Payzone is an ideal choice for small businesses because it charges no set-up fee and offers 12-month contracts. It offers countertop, portable, mobile, and PDQ terminals. It offers maximum versatility because it facilitates online and phone payments.

Merchant account set ups are quick, and Payzone uses the latest security technology so merchants and customers can feel at ease.

Most importantly, Payzone offers no fees to set up or exit an account, and it offers support seven days per week.

Sage Pay Merchant Account

Sage Pay’s merchant account accepts debit and credit card payments, and it has various fees based on the different types of transactions used. For instance, credit cards are charged a 2.5% transaction fee and debit cards charge a 40p per transaction fee.

For example, a £1,500 per month sale split between debit and credit cards, the transaction fees would be £24.75. Additionally, Sage Page charges a £10 per month PCI-compliance fee and a fee for a payment gateway. Also, it offers 24/7 support and fraud management, and charges a joining fee and fees for portable, mobile, and countertop machines, as well as virtual terminals.

Global Payments Merchant Account

A U.S. company with UK headquarters in Leicester, Global Payments offers rapid card processing and cutting-edge security features. It offers GPNow, which integrates terminals with an existing EPOS system via Bluetooth, while GPLink connects desktop or fixed terminals straight to the till. GP Webpay, which offers quick processing, flexible pricing, and support for recurring payments, and Global Iris Solutions Platform is available for digital transactions.

Fees are variable with Global Payments, however, we can highlight the additional costs you may encounter, including fees for joining, countertop, portable, and mobile machines, and virtual terminals. Additionally, it offers fraud risk management and 24/7 support.

The Last Word

When it comes time to choose the cheapest merchants service UK, take your time. Do your research and think about what is best for your business. Weigh the fees, contract terms, and the support available.