Top Merchant Account Providers Serving UK Businesses

Wednesday, January 5th, 2022

Merchant accounts serve as the bridge between businesses accepting card payments and the card scheme. With so many providers operating in this space, finding the best UK merchant account can be difficult.

When looking for an account provider, one must look at many different things, from price to security, support, and more. In this review, we’ll compare the best UK merchant account providers to help you find the right deal for your business.

Top UK Merchant Account Providers

• Worldpay

Worldpay is one of the largest merchant account providers in the world. They operate in more than 60 countries and have thousands of clients. For this reason, they can offer some of the lowest interchange rates available in the marketplace. Their pricing comes in two forms – tiered pricing based on your monthly transaction volume and flat-rate pricing based on your merchant account’s credit limit. Both options are very competitive in the marketplace. 

• TakePayments

TakePayments offers a simple flat-rate pricing model with no hidden fees or markups. While there may be other providers that charge less for credit card processing, TakePayments’ transparent pricing model should appeal to any business owner who wants to know exactly what they will be paying per transaction without having to negotiate multiple terms and conditions with an offshore call center representative. 

• Square

Square is a mobile payment processing platform, which means that you can accept payments using your smartphone with no need for a traditional credit card machine.

Square charges a 2.75% per transaction fee, but there are no monthly set-up or cancellation fees, and the company provides 24/7 customer support. This is one of the best UK merchant account providers for small businesses because it is so flexible and easy to use.

• Handpay Merchant Services

Handpay Merchant Services provides mobile credit card processing solutions for all kinds of businesses, from coffee shops to clothing retailers. The company deals with over 100 banks in the UK, so it can offer a wide range of payment solutions for any business. 

Its rates are also very competitive, with a 2.8% per transaction fee and an annual subscription of £99 or £199, depending on your business’s average daily turnover. There are no setup or cancellation fees, but some other charges are associated with the service, including chargeback fees, etc.

Final Words

The best UK merchant account provider for your business will depend on the kind of online business you have. What’s more, there are other things to consider besides price and fees, such as the company’s customer service, software, security features, and so forth. Bottom line, do your research!