Lowest Rate Merchant / Payment Processor?

[S Isaac]

I currently do not take any form of card payment.

Am looking to have something where I can either take card details over the phone and key them in, or direct customer to pay directly.

Would be looking at average transactions around the £20 - £30 mark. Probably doing anything from £1k to £3k a month, at a push maybe £5k. Any advice on the cheapest/easiest combination for this?

I'm guessing the cheapest overall would require more upfront work/costs, and vice versa. Any advice from anyone who takes transactions for a similar amount?

Also, how quick do you get funds from when payment is made?

 

[japancool]

The rate you are offered will usually be tailored to your specific circumstances, risk profile, trading history, industry sector etc. Cheapest does not necessarily mean most upfront work.

I recommend you get quotes from several merchant account providers to see what you are offered. Try this:
www.cardswitcher.co.uk

Again, settlement period will depend on your risk profile, I believe.

 

[Alan]

Google Payment Brain and pump in some figures.

A lot depends on whether you want / have a separate merchant account or not.

Also taking payment over the phone normally requires a different merchant account to directing them to a website.

Not sure what business you are in, but have you considered a 'no card equivalent' (only works for UK as it is via DD ) see it is called GoCardless, you pay just 1% up to a max of £2, you het paid in about 6 days and you can get £50 off your fees see here https://badlywired.com/2013/06/gocardless-discount-code/ f

 

[S Isaac]

Thanks, would rather not have too much effort upfront and PaymentBrain is showing WoldPay as a possibly good one.

 

[Alan]

I'd also recommend you look at stripe for simplicity too. Well worth a look and only minimally different in cost

 

[japancool]

If your e-commerce software has a plug-in for a gateway provider, such as Sagepay or Worldpay, just use one of them and then get your merchant account from the cheapest provider. You do not have to get your merchant account and gateway from the same place.

 

[mtools]

guy on this forum richard (think his username is paymentguy or something similar) sorted me out, I'm with Worldpay and UPG, pretty good rate, sorted me a woocommerce plugin, you can also take telephone payments by logging in to the website. you'll need an SSL and a dedicated IP address (i think), rough figures are around £20 a month flat fee and around 18-30p debit card transaction, 2% on some credit cards, more on amex, you'll get a certain number of transactions included in the £20 (around 300) when you go over that you'll pay an extra 10p or so per transaction (depending on industry as someone said, but if you're a run of the mill ecommerce selling typical high street goods this is what i would expect to pay)

 

[adamo]

Stripe is excellent. Might not be the most competitive, but definitely one of the most straightforward.

 

[Billy Smaug]

Im in the process of building an ecommerce website and Barclaycard / paypal seem good.

 

[Payments Guy]

Thanks Stuart @mobilitytools. Of course, always happy to help 01422 323785 or [email protected]