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Barclaycard

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Monday, May 21st, 2018
Best Payment Providers

A Good Fit For:


What We Like

Barclaycard offers reliable, easy-to-use services, including its own payment gateway. It appears to use an in-house sales team.

What We Didn't Like

Barclaycard’s is not suited for small or high-risk merchants. It charges an early termination fee, and its customer service and support leaves a lot to be desired.


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Marketing

Sales

Support

Pricing

Overall

Overview

In 1966, Barclaycard introduced the first credit card to the UK. It remained the only British credit card until 1972. Ever since, it has been developing a host of payment solutions to meet the needs of businesses from a variety of industries. It offers full-service payment solutions provider, offering terminal rentals, online payment gateways, merchant accounts, and virtual terminals, to businesses.

Operating in more than 40 countries around the world and employing 12,500 people, Barclaycard is one of the core businesses of multi-national bank, Barclays. It introduced the UK’s first debit card in 1987. In 2011, Barclaycard while partnering with Orange because the first financial entity in Europe to launch contactless mobile payments. It made history again in August 2015, when Barclays became the first UK high street bank to accept bitcoin for charitable donations. Currently, more than 87,000 retailers are using Barclaycard’s services.

Marketing

For the most part, Barclaycard relies heavily on traditional advertising and strategic partnership to build its customer base. Part of the reason that its marketing is so straightforward and transparent may be because of its long history and its choice not to hire independent sales agents. Though it uses Twitter to promote some of its services, for the most part, it is used to share company moments and news.

Honesty

When we first visited Barclaycard’s site, we didn’t notice anything overtly misleading or deceptive. However, a number of customers have complained that they lied to about costs for services, as well as contract terms.

Nevertheless, we liked that Barclaycard offered testimonials from its clients. Offering up this information gives future customers chances to try an reach out to their clients directly and confirm their experiences.

Sales

One of the most positive things we discovered about Barclaycard was that the company didn’t use independent resellers, and it didn’t promote any deceptive rates. Instead, Barclaycard uses in-house sales staff to build its customer base and to market its services. Additionally, we found very few complaints that criticized Barclaycard for its sales strategies and tactics.

 Availability

Though Barclaycard has a very good reputation as a bank and a merchant service provider, it doesn’t stack up when it comes to customer service and support. Since Barclaycard doesn’t have a UK-based call centre, it is difficult to reach representatives. Be prepared spend several minutes, sometimes hours, to reach a person. During one of our calls, we spent more than 34 minutes on hold. During another attempt, we waited 17 minutes only to have our call dropped. This is frustrating and not good for business.

Additionally, Barclaycard is available via phone and email.

Support

During our interactions, we found the staff to be fairly knowledgeable but overly confident in their responses. They promptly asked questions but were less interested in answering questions.

Staff Responsiveness

We have to say that emailing Barclaycard is the best way to reach and get responses. When we emailed Barclaycard, we received a response almost immediately. We found this very positive. We felt that the responses were written by an individual interested in our business and not just an automated response. This was quite refreshing in an industry where most times the next sale is what is most important. Also, the email did encourage me to email my phone number back to the representative or call its sales team. After many efforts, we did reach someone in sales. In one word, we would classify calling as annoying. The phone system or the people transferring calls were inept. We waited too long to talk to someone that offered little to no information. This is something that we see could be a real problem for small businesses that simply don’t have enough time to deal with this.

Also, Facebook is a place where customers seem to praise and critique Barclaycard. Positive responses have praised supportive staff while the negative comments touch on pushy staff and unresponsive customer support. What we like is that Barclaycard replies to all comments and does so promptly. Also, its responses did not appear to be canned, automatic responses. That is something we definitely appreciate.

Staff Interaction

We find it so sad when a large business treats customers like they don’t need new ones. This is something that we ran into when we spoke with Barclaycard’s team. Also, this is something that we discovered other customers experienced. The people we spoke to were arrogant, short, and annoyed that we had questions. All we can say is that this is a quick way to lose new customers.

Pricing

Barclaycard offers custom pricing for customers based on transaction volume, business type, risk, and sales type. It doesn’t offer pricing online but according to customers and other sources, you can expect the following fees and charges:

  • Monthly fee starting at £15
  • Terminal rental £15 – £25 per month
  • Online payment gateway £20 –  £75 per month
  • Virtual terminal £15 –  £75 per month
  • Chargeback £9
  • Set-up fee £150
  • Cancellation fee £115 plus VAT
  • Minimum monthly transaction fee £20
  • Authorization charge 3p
  • Non-secure transactions  starting at .85%
  • PCI non-compliance starting at .30%
  • Refunds 30p

Like most other merchant service providers, Barclaycard charges transaction rates based on business type and transaction volume. Most merchants, on average, say they pay rates of between 1.5% and 2.5%. A sample of rates for the following type of transactions include:

  • Credit card 1.4%
  • Debit 0.6% plus 10p
  • Business credit 2.05%
  • Business debit 0.85% plus 10p

Since these are just estimates and ranges, it is impossible to determine your exact rates and charges without talking directly to Barclaycard.

Early Termination Fees

Typically, Barclaycard’s standard contract is 18 months but agreement lengths can vary. Also, it typically offers 18-month contracts for terminal rentals. If terminated early, Barclaycard charges a £115 cancellation fee on all contracts.

Hardware Costs

Barclaycard offers a host of card and pin machines and terminals it makes, as well as Ingenico machines. Leases range £15 and £20 per month. All terminals have a minimum lease of 18 months. Its desktop card reader is available for £15 per month plus VAT. Its portable card reader is available starting at £20 per month. Its mobile card reader is available from £25 per month.

Additionally, it offers Barclaycard Anywhere, a completely mobile solution that costs £60 upfront and costs 2.75% per transaction.

Barclays operates one of the largest online payment gateways, with offerings starting at £20 per month.

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