Discover the Cheapest Merchant Services UK

Friday, December 28th, 2018

Are you a UK-based merchant looking to start your eCommerce business? Maybe you’re just interested in changing your existing processor and want to find the cheapest merchant services UK, don’t you? No problem at all! This article will help you find the cheapest one for your needs.

Find the Cheapest Merchant Services UK

Today, you can come across a number of companies offering merchant services in the UK. To choose the most affordable merchant services, you should compare the service fees offered by these companies. In fact, merchant account prices vary from processor to processor.

As you may know, more established and low-risk merchants can expect to get approved for more favorable rates. This can’t be said about high-risk business owners. However, if you’re able to find a reputable high risk processor, you can enjoy the lowest possible rates and fees.

So, to compare processors, you should pay compare transaction fees, as well as hidden fees such as minimum merchant service charge, payment card industry data security standard (PCI DSS), setup fees, early termination fees. Plus, you should compare merchant account contracts and rental fees, including the fees associated with card machine rental, a payment gateway, virtual terminal, chargebacks, and interchange fees.

To get the best deal, consider working with Best Payment Providers, a reputable merchant services comparison company in the UK. Best Payment Providers makes an assessment of contracts, rates, and fees to guarantee the cheapest merchant service UK. Besides, best Payment Providers provides the most honest snapshot of the company at the time of writing and helps you enjoy seamless integration and excellent experience.

Compare Merchant Account Rates ad Costs

When trying to find the most affordable merchant services UK, you’re going to discover a dazzling array of credit card processing providers. They come with different types, and offer different pricing and quality. So, let’s look at some major ones:

  • First Data Fees
  • Monthly gateway fee: £15 per MID or merchant identification number (with 500 payments over the Internet)
  • Variable transactions fees (for 500+ volumes)
  • Worldpay Fees
  • One-off £150 terminal admin fee for completing transactions face to face
  • Gateway fee: 10p per online transaction

And more

  • Sage Pay Fees
  • Credit cards: 2.5% transaction fee
  • Debit cards: 40p per transaction
  • Business cards: 2.5% premium
  • American Express cards: 1.68%
  • When 3D secure is used to complete transactions: 0.5% for credits, and 0.10p for debits
  • Payzone Fees
  • Fees per month: starting at £20 per month with card transaction fees featuring 0.6%-2.5% plus a flat per-transaction fee.
  • No setup, joining, and exit fees with the shortest contracts
  • No early cancellation fee
  • PayPal Fees
  • Cheapest for low-volume businesses
  • Good option for keeping as a backup form of payment together with a traditional merchant account
  • Web-Merchant Services Fees
  • Most affordable for standard-risk businesses
  • No setup fee for standard accounts for low- and medium-risk businesses
  • Fees for standard accounts per month: $14
  • Processing fee  for standard accounts: 1.6%
  • Transaction fee for standard accounts: $0.28 per transaction

Figuring out the right merchant services for your own specific business needs can prove to be tricky. However, with a respectable payment expert, you can make the right decision when it comes to the best and cheapest merchant services UK.

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