Help finding good card payment services provider

[No Business Yet]

Good morning, can anyone recommend a good card payment provider that will also make next day payments for money owed ?

I did ask this question as part of an another thread but was advised to start a new one, so here we are.

I am currently with Worldpay, but have had some issues with four chargebacks ( they were singularly unhelpful ) and now they are also taking anything between two and five days to pay money owed.

Worldpay used to pay next day, that was until they were bought out by a Chinese company late last year and the first thing they did was to increase the payment times. I have already phoned them and there is, apparently, nothing anyone can do.

No one should have to try and run a business with that sort of payment delay, so it is time to move on.

We have a bricks and mortar shop and only take payments when the cardholder is present. There is - at the moment - no requirement for telephone or internet payments.

The transaction value for January 2018 was £24508 and for February it was £23682, so if we take these as typical, the yearly figure will be in the region of £300,000.

Any suggestions gratefully received.

 

[Nochexman]

I am currently with Worldpay, but have had some issues with four chargebacks ( they were singularly unhelpful ) and now they are also taking anything between two and five days to pay money owed.

Have you been able to identify how these chargebacks occurred in a card holder present circumstance and have you taken steps to ensure they don't happen again?

If you cannot demonstrate that you can control fraud on your own premises you will be penalised in the terms you can obtain for getting hold of your money.

 

[JEREMY HAWKE]

I agree with @Nochexman
We are with worldpay and take cards over the phone but if anything appears dodgy we do some more checks then ask them to pay the money in the bank if we cant work it out
One of the things we do is ask for a landline number and if they don't then we don't !
We have not had any charge backs in the last three years

You might satisfy WP checks and you might follow their procedures to the rule but it is your responsibility to do more . At the end of the day it is your money WP never lose out

It takes 2 days to hit your account I consider this normal

 

[No Business Yet]

Thank you for the replys, but between two and five days is not normal for us. Until late last year, we were getting the money next day on most occasions and now we have just had a bank holiday, a payment has just taken six days, not normal at all.

So can anyone suggest another card payment provider that does things somewhat quicker ?

 

[iamhill]

I use Square - It takes about 2 days usually

 

[GillespieBS]

If your cashflow cannot take a 5 day delay on customer receipts then do you need to look more at your cashflow and other finance options. An overdraft perhaps?

 

[N McVann]

The problem with Worldpay is they tend to charge some pretty hefty transaction fees.

 

[youngtrepreneur]

Good morning, can anyone recommend a good card payment provider that will also make next day payments for money owed ?

I did ask this question as part of an another thread but was advised to start a new one, so here we are.

I am currently with Worldpay, but have had some issues with four chargebacks ( they were singularly unhelpful ) and now they are also taking anything between two and five days to pay money owed.

Worldpay used to pay next day, that was until they were bought out by a Chinese company late last year and the first thing they did was to increase the payment times. I have already phoned them and there is, apparently, nothing anyone can do.

No one should have to try and run a business with that sort of payment delay, so it is time to move on.

We have a bricks and mortar shop and only take payments when the cardholder is present. There is - at the moment - no requirement for telephone or internet payments.

The transaction value for January 2018 was £24508 and for February it was £23682, so if we take these as typical, the yearly figure will be in the region of £300,000.

Any suggestions gratefully received.

Don't go for Worldpay due to the silly fees they charge.
Perhaps Stripe?

 

[TotalWebSolutions]

Industry standard is 1-3 working days for settlement via an acquirer. This time-frame can alter depending on the business nature or a change of circumstances (i.e. getting multiple chargebacks) so whilst you might be able to move to another acquirer offering next day settlement they could change this in the future.

 

[Russ Michaels]

WorldPay are a terrible company, their customer service and incompetence is legendary.

I used stripe for many years and had no complaints. I also used Sagepay before, I only switched because the billing system I used had better integration with Stripe for avoiding full SAQ3 PCIDSS compliance. I think Stripe is cheaper too.

 

[Sparx]

OP would hate Stripe... Last I heard they have a 7 day settlement timescale?

On the flip side, if the business is taking money daily, what's the issue as cash flow is still daily?

 

[Talay]

I am just in the process of migrating to Fidelity and Netpay from Costco were a decent close second.

 

[Minuteman Press]

What made you choose Fidelity?

 

[Talay]

What made you choose Fidelity?

To fully work out the charges, you need to build a price matrix in Excel and you need to know (accurately) your volumes per card type and your average transaction value.

The market is shifting. Some now price on interchange ++ with all manner of scheme fees and fixed amounts etc. Others are still on the old blend and some models are hybrid.

I am circa £25 per transaction and not as heavily on debit as I thought so I needed a good rate on visa and mastercard and when I plotted the numbers against the matrix, Fidelity were thousands of pounds ahead of my current Elavon.

You need to understand it thoroughly though, not even 90% as you'll get caught out by the other 10%.

I am also pretty unique that I don't use their terminals so that side of the argument wasn't an issue whereas I was using Elavon terminals (now through EPoS).

In the end, it is like buying a pretty homogeneous service and in truth, there are only about 5 players, though some work like MVNO phone operator and piggy back on one of the big 5 with tier own blend. Fidelity uses AIB for instance.

Avoid all the ****wit companies and plot the big boys.

It is a different game if you are doing small or tiny numbers though. I put multi £m through.

 

[Minuteman Press]

Talay,

A fantastic response. So helpful and much appreciated. Will work through and action your recommendations.

Cheers Talay.

 

[Giraffe Marketing]

Hey,

We currently use stripe for our payments but I have been reading into world pay machines.

Has anyone any othe recommendations for card payment providers?

Thanks,

 

[Nochexman]

We currently use stripe for our payments but I have been reading into world pay machines.

Sounds like your payments are all card payer present - is that right?