Picking the Best Merchant Account Provider in the UK

Thursday, June 18th, 2020

Businesses looking for merchant accounts and related services can benefit a lot from some professional advice on where to go.

The search for merchant services must be guided by these factors which should matter to you as a business owner;

• Merchant account fees: These include all costs linked to the account, including fee per transaction, and any other related expenses.
• Extra services: Add-on services like a secure payment gateway, unswerving support, reporting services, integration to other platforms, as well as other vital business tools.
• Type of Merchant account: Not all merchant accounts fit your business needs. Some service providers do not accept high-risk businesses while others do.

That said, what are the best merchant account companies in the UK as regards to the factors listed above?

IZettle

IZettle is the ultimate merchant account and card terminal provider for in-person payments.

Unfortunately, it has no payment gateway and doesn’t support ecommerce. Still, it has a capable card terminal that goes for £59 and offers a flat-rate pricing model at 1.75% for cards. It also provides online invoicing at 2.5%.

 IZettle has a free-of-charge account with no extra fees. But retailers can choose to enjoy premium services and customer service for a monthly cost of £20.

Secure Trading

Secure Trading has been providing UK retailers with merchant accounts since 1997. It accepts both low and high-risk ecommerce companies in the US and UK.

Merchants can benefit from its Secure Trading’s rich pool of products, which include;

• Online payment gateway
• Virtual terminal,
• Multicurrency support,
• Recurring billing,
• Online shopping cart integration,
• Back-end tools.

Secure Trading focuses on ecommerce business and opens its doors to companies that deal with high-risk products.

Universal Transaction Processing  

Universal Transaction Processing has been offering merchant accounts to small and large UK retailers since 2013.

The company boasts a functional online payment gateway and credit card terminals. It also owns a virtual terminal and offers business funding through MCAs or merchant cash advances.

Universal Transaction Processing tailors custom-made pricing and agreement terms for each retailer. On top of that, retailers enjoy unswerving customer support.

And lastly, it partners with Barclays, a UK-based banking partner, and can accommodate any size of business.

Fidelity Payment Services

Fidelity Payment Services is an ISO that sells merchant services in the United Kingdom thanks to its business relationship with established firms like First Data and AIB.

Business can benefit from its reliable gateway, ACH processing, chip-and-PIN terminals, a secure payment gateway, a virtual terminal, and mobile transaction processing. Plus, it offers funding through a merchant cash advance.

Lastly, Fidelity Payment Services also tailors its pricing and agreement terms depending on the size, type, and processing history of a business. And of course, all this comes with unswerving merchant support.

Final Words

The list of trustworthy service providers goes on and on. For a small business looking to enter a deal, the secret is to perform a thorough comparison.