Takepayments Review & Fee Analysis

Overview

Headquartered in the North of England, Takepayments manages a reported 75,000 merchants in the UK. As one of the UK’s leading ISOs (Independent Sales Organisation), it offers in-person and online payment solutions, manages onboarding, handles contracts, and provides customer support. The merchant account, which processes transactions and settles funds, is managed by their acquiring partners, Elavon and EVO Payments.

Global Payments, a US payments technology group, acquired a majority stake in Takepayments in June 2024, as part of its strategy to expand its UK presence. Although they still operate in an ISO-type role, Takepayments may evolve from a pure ISO into a more integrated part of Global Payments’ acquiring/processing business.

Takepayments Fees

Takepayments’s bespoke merchant service charges (MSC) are calculated on card turnover, card mix, merchant category code (risk), and sales channels (i.e., the proportion of online and in-person transactions).

Additional fees will include standard items such as authorisation, PCI programme/non-compliance, refunds/chargebacks, and minimum monthly service charge (MMSC). Terminal rental fees will also be added to the monthly statement.

For standard card machines, merchants are encouraged to request a tailored package. We can assist you with this, as we often receive better rates due to our longstanding relationships with numerous providers and the scale of our business with them.

Contact us today to find out if you’re getting the best rate.

The rates shown below were generated using the Takepayments Online Pricing Tool. These rates are specific to hair and beauty companies with an average transaction value of up to £50.

Below is an example of a quote for a hair & beauty company with an annual card turnover between £50k-£100k, and an average transaction value of up to £50.

Please note that additional card processing fees may apply. Some of the fees and features of Takepayments merchant services include:

• Point-of-sale terminal (per terminal per month): £12.50
• Authorisation fee: 3p
• Chargeback fee: £20
• Payment Gateway: Included
• PCI DSS service fee: £4.80
• Minimum monthly service charge (MMSC): £20

More favourable rates are typically offered as card turnover increases. Businesses should ensure they review both transaction fees and any fixed monthly charges when comparing quotes to ensure they are getting the best value.

Takepayments Card and Point of Sale Machines

Takepayments currently lists two card terminals for in-person payments: the portable card machine, A920Pro, and TakepaymentsPlus, which is the smart Android terminal.

The available EPOS solutions include tPOS Counter and tPOS Complete. These options are designed for retail and hospitality businesses seeking an all-in-one solution which includes till hardware, a receipt printer, a scanner, and a card reader with built-in EPOS software. Prices range from £45 to £65 per month, depending on the package and sector.

The table below summarises the advertised models and their main features:

Takepayments terminals are typically offered on a 12-month contract, which is shorter than the standard 18-36 month terms offered by some other acquirers.

Takepayments Online Payment Solutions

For online payments, Takepayments offers several options for businesses looking to accept payments remotely, ranging from simple app-based solutions to a complete e-commerce gateway. It does not publish standard gateway pricing, as merchants are quoted on a bespoke basis.

Payment app (beepaidGO): Integrated into Takepayments’ platform, this mobile app allows merchants to raise invoices and send secure payment links via text or email. Customers can pay online using cards or mobile wallets, while merchants track transactions within the app. Funds are typically settled the next working day.

Pay by Link: This feature utilises a browser-based tool that enables businesses to create one-time payment links. Customers can click through to a secure hosted page and pay using Visa, Mastercard, Maestro, or American Express.

Phone (MOTO) payments: Takepayments offers a virtual terminal, accessible on any IT-connected device, for merchants to key in card details collected over the phone. This is useful for service-led businesses that accept bookings or remote orders.

Payment gateway: Their e-commerce gateway connects with leading shopping carts and supports all major card types. Payments are routed through a secure, hosted checkout page managed by Takepayments, which helps simplify PCI compliance. Transactions are encrypted end-to-end and protected by 3-D Secure authentication, providing SMEs with a straightforward and trusted way to process online payments.

These tools enable SMEs to select between quick, no-code solutions, such as pay-by-link and virtual terminal, or more comprehensive e-commerce integrations with their preferred website platform.

Security & Compliance

A range of security features protects merchants for both in-person and online transactions. All card machines are PCI PTS certified and support chip & PIN, as well as contactless payments.

For online and remote payments, the gateway supports 3-D Secure (3DS) authentication, which shifts liability for fraudulent transactions away from the merchant when enabled. It also offers AVS (Address Verification Service) and CV2 checks, which are particularly important for MOTO payments where 3DS is not available.

Merchants must also comply with the PCI DSS standard. Takepayments provides dedicated PCI support, guiding businesses through the self-assessment process to help them meet compliance requirements.

International Payment Processing Capabilities

Takepayments positions itself firmly as a UK-focused provider, specialising in helping independent UK businesses accept card payments. However, they can now facilitate international payments for their UK merchants through the Global Payments network.

Alternatives to Takepayments

Competitors that focus primarily on UK-based SMEs include:

Dojo (Paymentsense): UK-based, specialising in SME card acceptance with an emphasis on fast settlement and service-led onboarding.

Lloyds Bank Cardnet: Primarily serving UK businesses through its partnership with Fiserv, with a strong base in retail and hospitality.

In contrast, most other major acquirers operate globally as well as in the UK, including Worldpay, Barclaycard, Global Payments, and Elavon. They all support multi-currency processing and cross-border settlement, whereas Takepayments keeps its clients locally based.

Business Health & Future Prospects Health

On 19th April 2024, Global Payments Inc. acquired Takepayments Limited. To align with the new Group, Takepayments Limited has extended its accounting period to 31 December 2024. Therefore, the latest filed financial statements represent a fifteen-month reporting period.

The company reported substantial revenue and profit growth in its latest filings. Turnover and employee numbers have increased, indicating strong performance in the UK SME sector both before and after its acquisition.

Takepayments focused on expanding its merchant base, resulting in revenue of £88.2m, up from £58.2m in the prior year. Card acceptance revenues increased significantly in this period from £51.1m in the previous year to £77.4m.

Operating profit decreased by £5.8m to £3.2m for the period to December 2024. This was due to an impairment relating to a software development project. The acquisition of intellectual property for £4.5m also led to higher amortisation during the period.

The Company’s strategy is to focus on developing its portfolio of payment technology solutions. It is anticipated that the Company’s enhanced customer propositions will increase its customer base in card acceptance and payment technology, as well as grow revenues from these services.

The Company’s strategy focuses on developing its portfolio of payment technology solutions. It is anticipated that the Company’s enhanced customer propositions will increase its customer base in card acceptance and payment technology, as well as grow revenues from these services.

Customer Service and Tech Support

You can access their support hub here or contact them on 01606 566 600.

They also have a WhatsApp support number: 07888 863 182.

Latest News

The most significant recent news is the 2024 acquisition of Takepayments by the US payment giant Global Payments. The deal is expected to enable Global Payments to cross-sell its broader commerce enablement solutions and diversify its distribution in the UK.