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Payments 101
Compare merchant service providers, merchant accounts, acquirers, payment gateways, payment processors and payment facilitators for UK SMEs.
Payment service providers (PSPs), aka “payment processors” or “merchant service providers”, enable businesses to accept card payments face to face and online.
If you accept card payments you need to use a merchant acquirer. But what exactly is a merchant acquirer and how do you get one? Read on to find out!
We define what an ISO is, what are the pros and cons of using one compared to a merchant acquirer, typical pricing and potential issues.
Find out what a merchant number or merchant identification number (MID) is, whether your business needs it and how to get one.
If you accept card payments you need to use a merchant acquirer. But what exactly is a merchant acquirer and how do you get one? Read on to find out!
Online Payments
Payment service providers (PSPs), aka “payment processors” or “merchant service providers”, enable businesses to accept card payments face to face and online.
Payment service providers (PSPs), aka “payment processors” or “merchant service providers”, enable businesses to accept card payments face to face and online.
Step-by-step guide on how to take card payments over the phone, including safety and compliance measures & the benefits of remote payments.
In this article, we explain how you can set up your business to accept payments online using a payment gateway, ecommerce platform, pay by link etc.
Card Processing Fees
We’ll cover the fees incurred for each specific transaction (merchant service charge) and non-transactional monthly or one-off costs charged for the payment services and hardware (e.g. POS terminals).
Scheme fees are one of the three components that make up the Merchant Service Charge (MSC). They are paid to the card networks (i.e. Visa, Mastercard).
Interchange fees are one of the three components that make up the Merchant Service Charge (MSC). These fees are typically paid to the customer’s card issuer to cover handling costs, bad debt costs, and the risk involved in approving the payment.
Interchange plus pricing (IC+) is a more transparent pricing model than blended (standard) pricing. It’s normally only offered to high card turnover merchants.
Blended pricing (otherwise known as standard pricing) is the most common pricing model offered by payment processors. IC+ pricing structure is more transparent.
What are card-not-present (CNP) transactions and why are they more expensive than payments in person?
Finding the cheapest merchant service provider is not always easy. We look at 5 factors, from card turnover to contract length, that affect merchant service fees.
Payment processors provide merchant processing statements in different formats with varying terminology. Our guide will help you understand them and compare fees.
Payment Security
We cover the four levels of PCI compliance. We also detail the 12 high-level requirements that are organised into six different control objectives.
In this guide, we’ll look at what PSD2 is. We’ll also cover the security practices required to comply with PSD2 in the UK and get your payments authorised.
Find out the types of payment reversals, how to make a payment reversal and how to avoid them.
Other
Definitions of the common and less prevalent terms and expressions used in the payment processing sector. Written for a UK audience.
View the simple steps you need to take to switch payment providers without stress.
A payment facilitator enables businesses to accept card payments without needing a dedicated merchant account.
Payment Solutions
Merchant Finance
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