card machine readers to take payments

[bailey!!]

We currently use worldpay to take card payments from customers mobile away from base and over the telephone via their website. We pay 2.75% + 20p per transaction and have an option to change to a monthly fee of £19.95 + 2.75% on credit and 0.75% on debit payments. The system works fine for us but im now wondering if this is the standard sort of charges people are paying? I appreciate it probably depends on how much is being taken as to whether its cost effective to change but would love recommendations of providers so i can compare their rates against our existing rates. Many Thanks

 

[james_firmsites]

Yes these are fairly standard, the banks make a lot of money by charging fees for doing relatively little. Which option is best for you is based on many factors, such as number of transactions, average transaction size, types of transaction and if they are repeat of one offs.

On this forum are several card processing companies that often have competitive of better rates than world pay, but you might ensure this is integrated with your ecommerce solution.

Feel free to PM me your site link and ill take a look at what you have setup and give you a few suggestions on appropriate options.

 

[TotalWebSolutions]

As you say it depends on turnover but those rates seem quite high for personal Credit cards if with a minimum monthly service charge (PAYG you would always expect to be higher). We have some merchants on 1.5% or less on personal credit cards through the acquiring banks we have set them up with. Commercial/purchasing cards will always be higher.

Simon

 

[Nochexman]

I appreciate it probably depends on how much is being taken as to whether its cost effective

You probably need to say what is the value of these payments over a month to get the best advice.

 

[scaryice1]

You probably need to say what is the value of these payments over a month to get the best advice.

Agree