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Best Merchant Account Providers for Small Business
With a merchant account, your business can accept payments from customers so you never lose out on a sale. You can describe a merchant account as something that is very similar to a bank however it is just for businesses making it a business bank in a way. Signing up for a merchant account allows your customers to pay for your product or service using their credit or debit card. This can be done in person, online, or on the go. Once a payment is paid the transaction money is then safely deposited into your merchant account. Getting a merchant account in the UK has never been easier as there are many providers. Below we look at the top 5 merchant account providers for small businesses in the UK.
1. Worldpay
With Worldpay, you can take payments securely both offline and online. As the UK’s biggest merchant account provider and a global leader in payments, Worldpay provides a variety of card payment options suitable for small business. Worldpay provides countertop, mobile, and portable card machine solutions and also has a mobile card reader option to take payments through your mobile device.
2. Takepayments
The recently formed Takepayments (formally known as Payzone) aim to make accepting card payments to be as stress-free as possible. Takepayments pride itself in providing merchant services that work for small businesses. With a personalized pricing package no matter your business or how you intend to take payments they can help.
3. Izettle
Izettle is a leader in providing mobile card readers for businesses. Only launched in 2010 iZettle growth has been incredible and they now provide card payment solutions to thousands of UK businesses through the iZettle card reader. In 2018 iZettle became part of the Paypal family after being bought out for 2.2 billion.
4. Sagepay
Sagepay is a popular merchant account provider amongst UK small businesses. They provide competitive rates and are very clear on the cost of their services with no hidden costs. Sagepay aims to make payment processing as simple as possible so that you can invest more time into your business. They provide flexible, integrated card payment solutions that are ideal for all business sizes.
5. Sumup
Sumup is another option for small businesses that want to accept card payments. With no fixed contract or monthly fees, the Sumup Card Reader is often the payment option of choice for startups and budding entrepreneurs who need to accept payments. It is secure, and affordable and allows payments through Android or apple devices with a 3G connection.
6. Paypal
A company that needs no introduction Paypal is the world’s most popular online payment gateway. Almost 300 million people worldwide use Paypal and in the recent year their options for small businesses have improved. It is easy to set up a business account with Paypal to take payments online and over the past few years the introduction of Paypal Here card reader and the purchase of iZettle makes them a leader in mobile card payments.
7. First Data Merchant Solutions (FDMS)
A global leader in merchant services FirstData caters to both small businesses and large corporations worldwide. Their portfolio of card payments processing services is catered to individual business needs. Whether if you want to accept payments instore, online or on the go they can provide the right card machine terminal or all-in-one ePos solution with Clover to get you started.
First Data Merchant Solutions Website
8. Global Payments
Global Payments provides everything your business needs in order to sell your product or services online or in person with a merchant account. With tailored solutions they pride themselves in ensuring your business is provided with simple solutions to accept payments on any device.
9. Vaitor
Operating in over 28 countries Vaitor removes the complexity of payments. They provide low cost merchant account solutions to businesses in Europe. Removing the complexity of card payments their card payment solutions are ideal for business that want to take credit and debit card payments.
10. Cashflow
Cashflow has been offering merchant account services to businesses in the UK since 2011. Their merchant account helps you receive and manage payments, through their payment gateway you can accept payments online whilst via their virtual terminal businesses can accept payments over mail order or on the telephone.
11. Stripe
Stripe provides a complete payment solution to businesses. By combining a merchant account and payment gateway into one product you can accept credit and debit card payments through Stripe and the money is deposited into your account. Stripe is a leading online payment solution and processes millions of transactions each year.
12. First Payment Merchant Services
Opening a merchant account with First Payments is easy. Their desktop, portable, and mobile card machines are perfect for businesses such as cafes, restaurants, and supermarkets that take payments in-store whilst their online payment solutions are ideal for any business that needs to accept payments online.
Fist Payment Merchant Services Website
13. Paymentsense
Paymentsense are passionate about helping small businesses accept card payments. They pride themselves in going beyond the ordinary by providing cutting-edge payment technology, extraordinary customer support, low transaction processing rates, and an ever-improving service so you can have peace of mind and focus on running your business.
14. Handepay
Process card payments quickly and securely through Handepay. With no hidden cost, you can maximize your business profits with their low cost merchant services solutions. Many small business are turn to Handepay to help save money on card processing fees and grow profits.
15. Elavon
Accept payments anywhere your business is with Elavon with their flexible, secure, innovative payment solutions. As a leading provider for airlines, hospitality, healthcare, and retail Elavon caters to large businesses but also provide payment solutions for small business to enable them to grow.
16. Squareup UK
Through Square, mobile card reader businesses can accept credit card and contactless payments from their customers. Square pride itself in providing innovative, simple solutions for small businesses who want to start taking payments quickly. Similar to iZettle with Square are not required to have a merchant account all you need is the card reader and app.
17. Netpay
As an award-winning payment service provider Netpay offers a wide range of payment service solutions. Catering to businesses of all sizes they offer a range of face-to-face card machines, and online and phone payment solutions. They offer more than just payment solutions with their Revolution platform which offers support to merchants who want to improve their business.
18. Wireless Terminal Solutions
As a market-leading payment card terminal provider Wireless Terminal Solutions specialises in the short or long-term hire of PDQ credit card machines as well as merchant services and e-commerce solutions for businesses.
Wireless Terminal Solutions Website
19. Barclaycard
Barclaycard has a vast range of payment options for businesses. You can start accepting payments with their desktop, portable, countertop, and mobile card machines. In addition, if you prefer to accept payment anywhere through your smartphone you can opt for the Barclaycard Anywhere card reader which you can purchase for a one-time payment of £29 on a Pay As You Go contract.
20. Beepay
As an independent online payment gateway provider Beepay has the capability to work with all UK acquirers. Even though Beepay’s main focus is on eCommerce and MOTO solutions they are also able to provide face-to-face card PDQ machine solutions also.
21. Retail Merchant Services
Taking the stress out of payment solutions we welcome Retail Merchant Services that pride themselves in offering same-day card payment settlements for merchants. Solutions include card machines, online payments, phone payments, and shopping carts.
Retail Merchant Services Website
22. Llyods Bank Cardnet
Llyods offer easy and flexible card payment solutions to customers. As an award-winning merchant account provider they process over 1.1 billion transactions each year for large and small businesses. They have great merchant expertise and offer tailored solutions to suit your business needs.
23. Secure Trading
With the goal of offering omnichannel payment solutions to merchants, Secure Trading wants businesses to be able to accept payments anywhere, via any device at any time.
24. Verotel
Verotel is a high-risk merchant accounts provider that operates worldwide. As a leading internet payment service provider Verotel helped over 50,000 webmasters grow their online business since launching in the late 90s.
25. Evo Payments
Whether you are a small or large business Evo Payments could be the right merchant services provider for you. Like many providers, they provide in-store, online and on-the-go payment processing solutions. Evo Payments serve 50 markets worldwide and process payments in 130+ currencies for their 450k merchants.
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So there you have it our pick of the top 25 merchant account and payment processing providers for small UK businesses who want to start accepting payments but don’t know where to start. With all these providers costs will vary on your business type and your payment requirements. We can help you compare further with a free quote saving you time, stress, and money. Simply fill in our quote form and our team will be in touch to let you know which providers will best fit your needs.
* Please note providers may alter from the above top 5 depending on your business needs and requirements.
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