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Worldpay has improved over recent years and should be on the shortlist of most UK businesses looking to start taking card payments or switching providers.
Unfortunately, they haven’t improved the Worldpay / FIS website and it is not intuitive to navigate. We’re going to do our best to provide some clarity on what Worldpay offer businesses in the UK and how they compare to alternatives.
One of the biggest advantages of working with Worldpay is that they are a merchant acquirer which typically means lower transaction fees as there is no middleman (i.e. ISO). Most payment service companies work in partnership with merchant account providers to authorise and/or process payment, but this isn’t the case with Worldpay.
In theory, this should make your contract situation simple (more on this later), as you’re only dealing with one company.
It also simplifies the technical side of your business accepting payments, as the company you deal with actually handles everything for you – especially important if you run into any technical problems. Another benefit of this is that you only need to have a single merchant ID for all of your card transactions.
Normally, to accept card payments for different types of transactions (face-to-face, by mail, cheque or phone and online) you will need a different merchant ID for each. With a WorldPay merchant account, you will only need one merchant ID for all types of transaction payments.
The main difference between them is how portable they are and this decision mostly comes down to where you need to accept card payments.
Worldpay charges a fixed fee each month for their card machines.
Both monthly plans will have variable transaction fees (see table below) based on the businesses and card type.
Each card payment rental contract has a minimum term of 18 months.
If you wish to accept payments over the phone, there’s an added cost of £9.99 per month.
A minimum monthly service charge of £15 is also applied
From £19.95 Per Month
From £45 per Month
|350 transactions included||850 transactions included||Lowest transaction fee based on volumes|
|No set-up fee||No set-up fee||Bespoke set-up available|
|Visa Checkout and PayPal||Visa Checkout and PayPal||Visa Checkout and PayPal|
|Digital payment links||Digital Payment links||Digital payment links|
|Phone payments||Phone payments||Phone payments|
|Standard fraud management tools||Standard fraud management tools||Advanced fraud management tools|
|Support service||Support service||24/7 support line|
|Minimum contract applies||International payment methods||International payment methods|
|Additional alternative payment methods (eg Apple Pay)||Additional alternative payment methods (eg Apple Pay)|
|Minimum contract applies||Fully customisable|
|Minimum contract applies|
Worldpay offers extensive online payment services for businesses of all sizes and you’re well-covered regardless of whether you’re an online-only venture or need to add online payments to your existing business.
Worldpay’s online payment services should cover all bases for most business types and the company is particularly strong when it comes to supporting payment types (international payments, alternative payments, etc.) and the security side of things.
With a WorldPay online merchant account, you will only need one merchant ID for all types of transaction payments (in person, online or over the phone).
Sometimes you need to accept payments over the phone or by mail and this is where Worldpay’s virtual terminal proves its worth. Essentially, it turns your computer into a secure payment point, allowing you to enter the card details your customer provides and process their payment in a matter of moments.
Keep in mind that you can also do this using a regular card machine and Worldpay’s virtual terminal will cost you an extra £9.95 per month. The advantage of having the terminal is that you can keep your card machine free for in-store customers to use and accept payments in other locations (you just need internet access).
You have to decide whether this adds value to your business or not.
Worldpay now offers a point-of-sale system, which it’s calling Worldpay Hub. This gives you a simple tablet-based checkout system designed for small businesses that only need a single or few points of sale. This is generally suited to pubs, restaurants, cafes and other small businesses such as small retailers and hairdressers.
Worldpay has been forced to become more transparent with its fees due to Direction 14 from the Payment Systems Regulator (PSR) introduced in October 2022.
Fees will vary depending on the turnover value of your monthly card transactions, but higher card turnover businesses will typically be offered lower fees.
The fees below aren based on Worldpay’s own data for a Retail business with an Average transaction value of £25. They are to be used as a guide.
A bespoke quote will be needed to get the exact rates for your specific business.
Table: Mastercard / Visa transactions fees charged by Worldpay for a retail business with an average transaction value of £25
|In Person Card Fees||Online / MOTO Fees|
Worldpay’s indicative pricing correct as of 20th Oct 2023.
Other fees include:
Worldpay has had to reduce its minimum contracts from three years with an auto-renewal clause to an 18-month contract due to 2022 PSR regulations.
To end your contract, you need to give 30 days written notice. If you fail to do so you’ll be signed up for an extension and obliged to pay an early termination fee if you want to cancel it.
This is standard practice among most payment service providers and a constant source of complaints from customers.
Takeaway: Read the small print and know your contract obligations.
Thanks to Direction 14 which was implemented as a result of the the market review into the supply of card-acquiring services carried out by the Payment Systems Regulator, Worldpay has been forced to become more transparent about their transaction fees.
They still make it hard to find pricing information on their website which is either intentional or because whoever they used to design their website cares far more about aesthetics than user experience. However, you can get a pricing quote from this page but be aware these are indicative prices only and each business will need a bespoke quote (which we can get for you).
As with many companies in this industry, Worldpay uses sales reps to get new businesses on board and some can be overly keen to get their commission.
Worldpay is one of the few payment service providers to offer 24/7, UK-based customer support – both over the phone and via email. We don’t get to say this very often and it’s nice to know there’s always a support team available if you run into any technical issues preventing you from accepting payments.
There’s also an online support section on the Worldpay website that offers documentation for account management and common problems you might run into. This is the only part of the Worldpay site that offers any real value but at least we can say there’s a well-rounded customer service and technical support system in place.
In terms of the quality of this customer service, it’s fair to say experiences are mixed.
Worldpay currently has a score of 4.6/5 with nearly 6,000 reviews on Trustpilot which is very good for a company of this size.
Their ratings have been increasing since we starting tracking them (they averaged just 2/5 when they had 1,116 reviews) so improvements are being made. For reference, 30% of reviewers say their experience with Worldpay has either been great (4%) or excellent (62%).
As expected, most of the complaints come down to contract issues, problems with leasing card machines, hidden costs and merchant funds being withheld. There are also a lot of complaints from customers saying they were mis-sold services by sales reps.
When things are going right for Wordplay customers, they seem to enjoy the best of its customer service. But when there are issues with contracts, disputes over fees and complaints about sales reps, the quality of its customer service appears to drop significantly.
Worldpay is a true industry leader and there isn’t much it can’t offer businesses of all sizes. Its transaction fees are competitive, particularly for larger businesses. When things go right with Worldpay, its customers appear to be very happy.
Like many of its competitors, it needs to continue to improve transparency, contractual terms and customer service.
If you’d like to compare Worldpay with other merchant account providers fill in our online quotation request form and we’ll have a quick call to understand your business and then email you a breakdown of the lowest fees we can secure.
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