Credit Card Processing—Key Decision Driving Factors for Selecting the Perfect Service

ByCompare Card Processing Ltd

Cash is no longer the primary mode of payment for many people in the UK. In fact, as of February 2022, 59 million credit cards were in circulation in the country, and this number is only expected to rise in the coming years. As a small business, offering credit card payments can greatly attract more customers and improve their shopping experience. But first, how do you find a provider with fair credit card processing fees in the UK?

Credit card processing fees in the UK—Essential factors to consider when selecting a processing provider

  • Fees

Credit card processing fees in the UK can vary between processors. But in general, most companies will charge for setup, interchange, assessment, early termination, and monthly minimums.

Make sure you check every service that comes with a fee to see if the charges are within your budget. For example, WorldPay offers a pricing plan for POS machines with a 1.50% transaction fee and no upfront costs.

  • Transparency

Regardless of how much a processing company charges, you must ensure that they are transparent with their fees. If they charge for contract termination, for instance, make sure they clearly state how much you need to pay. This way, you can avoid hidden fees and unexpected charges in the future.

  • Security

Credit cards are vulnerable to numerous security risks, such as fake cards, missing signatures, and data loss. As a business, allowing your customers to suffer from such threats will damage your reputation, even if you are not responsible for the issue.

Because of this, you must select a credit card processor that is Payment Card Industry (PCI) compliant. PCI-compliant companies can add an extra layer of security for the personal and financial information of your customers.

 

Are you paying the right credit card processing fees in the UK? Make sure to compare different providers before you work with one for your small business. Compare Card Processing is an online tool that allows you to evaluate the fees charged by various providers in the country, including leading processors like First Data and WorldPay.

Compare Card Processing can also connect you to your chosen providers, making the application process faster and smoother. Get a quote today and start offering credit card payments to your customers!

 

About the Author

Compare Card Processing is an all brand card machine and payment merchant provider compression platform situated at Wellingborough, in the state of Northants, the UK, since 2016. Prominent card acceptance and price comparison site that specializes in mobile card reader machines comparison of all brands also provides online payment processing quote instantly.