Selecting the right card payment processing provider is crucial for small businesses. Below is an overview of eight leading providers, highlighting their key features, fee structures, and suitability for various business needs.
1. Worldpay
Worldpay is one of the largest payment processors in the UK, serving over 250,000 SMEs. It offers a comprehensive range of payment solutions, including in-person, online, and mobile payments. Worldpay supports various payment methods and currencies, making it suitable for businesses with international customers. Transaction fees start from 0.75% as part of its £19.95/month package.
2. Stripe
Stripe is renowned for its developer-friendly APIs and extensive support for local payment methods. It accepts payments in multiple currencies and offers instant withdrawals. Stripe’s fee structure is competitive, with rates comparable to market standards. Its robust integration capabilities make it ideal for online businesses seeking customisable payment solutions.
3. PayPal
PayPal is a globally recognised payment processor offering secure transactions for both online and in-person payments. It supports a wide range of currencies and is known for its user-friendly interface. PayPal’s fees vary depending on the transaction type and volume, making it suitable for businesses of all sizes.
4. Square
Square provides an intuitive platform with free POS software and various hardware options. It’s particularly well-suited for small businesses seeking an easy-to-use solution for in-person and online payments. Square’s fee structure is transparent, with in-person transaction fees at 1.75% and online payments at 2.5%.
5. SumUp
SumUp is a payment facilitator targeting SMEs with relatively low card volumes. It offers simple pricing with no contractual tie-ins and provides easy-to-use payment processing solutions. SumUp’s pay-as-you-go transaction fees are 1.69% for in-person payments and 2.5% for online transactions. It’s ideal for businesses in the hospitality, retail, and professional services sectors.
6. CardPayGO
CardPayGO is a UK-based payment processing provider offering a comprehensive suite of services tailored for businesses of various sizes and industries. Their offerings include an online payment gateway, card payment machines, mobile payments, and merchant cash advances. They also provide specialised solutions such as social media payments, pay-by-email links, and eCommerce shopping carts. CardPayGO serves a diverse range of sectors, including retail, hospitality, gaming, and non-profits. They list their fees as starting from 0.46% for customer present transactions and 1.45% for payments online.
6. Zettle by PayPal
Zettle offers a range of payment solutions, including card readers and POS systems. It’s known for its ease of setup and flat fee pricing, making it a popular choice for micro-businesses. Zettle charges 1.75% for UK domestic card transactions and 2.5% for payment links. It’s suitable for startups and small businesses in various sectors.
7. Adyen
Adyen is a global payment company offering a unified platform for accepting payments online, in-app, and in-store. It supports a wide range of payment methods and currencies, providing businesses with a scalable solution. Adyen’s fee structure is tailored to each business, making it suitable for companies with complex payment needs.
When choosing a payment processor, consider factors such as transaction fees, integration capabilities, supported payment methods, and the specific needs of your business to ensure a seamless payment experience for your customers.
