![]() ![]() In addition to its online payment services, Stripe facilitates physical card payments. Overall, these factors bring Stripe up to a score of 4.2 out of 5. You can choose between Stripe’s integrated payment gateway or a hosted payment gateway, and add features to your package – like additional security layers and local payment methods. Stripe started life as a payment gateway provider, and this is something it still does extremely well. Card terminal fees = 1.75% per transaction.However, it’s worth noting that the provider has teamed up with WooCommerce to offer payment gateway services for WordPress sites. While Square does offer payment gateway services, businesses are currently limited to using Square’s online platform which of course is useless or inconvienient if you already sell on any other online selling platform, such as Shopify or Squarespace for example. Square’s app integrates with tonnes of third party applications and POS equipment, meaning small businesses can create and scale their payment system in line with their needs – and we've awarded it a cool 3.5 out of 5 for its quality features – coming in second only to Zettle. They also hold joint highest with Worldpay when it comes to customer support at an excellent 5 out of 5. Not only does it provide smart, modern POS systems, but it also provides businesses with end to end payment processing. Square has come a long way since its launch in 2009. Virtual terminal fees = £9.95 per month.Card terminal fees = 0.95 – 2.75% per transaction.Īs an all-in-one provider, businesses can use Worldpay for their card reader, payment gateway, and virtual terminal services – and as a dedicated merchant account provider, it offers security and PCI compliance through SaferPayments, so customers can purchase from you with complete confidence (unlike Retail Merchant Services, for example – the only traditional payment provider that is not PCI compliant). It is the second highest provider for features with a score of 4 out of 5, beaten only by takepayments who scored 5 out of 5. Offering scalable pay-as-you-go and contracted payment solutions, Worldpay is ideal for businesses that experience low transaction volumes, high transaction volumes, and anything in between. It currently processes around half of all payments taking place in the UK – and has some of the most flexible plans for small businesses. Having another name besides your business name on statements might also not be the type of branding you want.Worldpay is the UK’s most popular payment processing company. Furthermore, when you don’t have your own merchant account, the processors name may appear with your business name on customer credit card statements. ![]() Paypal, Square, and Stripe are examples of these. These types of processors are called payment facilitators, aggregators, or 3rd party processors. Even though the transaction fees are higher, such as 2.9% and $0.20 per transaction, they generally have low monthly fees. For this reason, shared merchant accounts are typically for small businesses that have lower than $50,000 per year in credit card processing. After a transaction, the funds are deposited into the master merchant account rather than your own business bank account.īecause there are so many merchants and transactions on this account, it is much more likely that a hold would be put on your account preventing you from accepting credit cards if there is unusual activity. In this scenario, you are sharing a merchant account with thousands of other businesses. These payment processors are also known as payment aggregators. Some payment processors offer a shared merchant account. ![]()
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