Barclaycard’s merchant services are known for being reliable and easy to use. Its range of products and services covesr almost every type of need businesses have in ensuring smooth card transactions for their customers. Its tiered pricing structure also caters to both SMEs and large businesses.
However, if you compare its fees to those of other, smaller merchant services providers, you’ll find that they’re not as SME friendly. Despite relatively short minimum contract lengths compared to some providers, you’re still tied down for at least 12 months – and the cancellation fees are pretty hefty.
Add to this its stringent application process that requires merchants to provide records of their financial history, something that smaller businesses and startups will find difficult to do. Barclaycard works well for established and larger businesses, but in terms of fees and ease of application, we would recommend SMEs to consider smaller providers with better payment and application terms.