By considering these factors and choosing a low-cost credit card processing provider, small businesses in the UK can reduce their costs and increase their profit margins.

Comparing Fees and Charges of Top UK Credit Card Processors

When it comes to choosing the cheapest credit card processing in the UK, understanding the fees and charges of top credit card processors is crucial. Here's a comparison of some of the leading credit card processors in the UK, highlighting their fees and charges to help you make an informed decision.

Sage Pay: Sage Pay is one of the most popular credit card processors in the UK, offering a range of pricing plans to suit businesses of all sizes. Their fees include a 1.75% + 5p per transaction for online payments, 1.99% + 5p for card present payments, and a 2.9% + 20p per transaction for card not present payments. They also charge a monthly subscription fee of £20 + VAT, and a £20 + VAT setup fee.

Worldpay: Worldpay is another leading credit card processor in the UK, offering a range of pricing plans to suit businesses of all sizes. Their fees include a 1.69% + 4p per transaction for online payments, 1.94% + 4p for card present payments, and a 2.85% + 20p per transaction for card not present payments. They also charge a monthly subscription fee of £20 + VAT, and a £20 + VAT setup fee.

PayPal: PayPal is a popular choice for businesses that want to accept credit card payments online. Their fees include a 2.9% + 30p per transaction for online payments, and a 2.2% + 30p per transaction for in-person payments. They also charge a £15 + VAT monthly fee for businesses with a turnover of up to £1 million, and a £25 + VAT monthly fee for businesses with a turnover of over £1 million.

Stripe: Stripe is a popular credit card processor for businesses that want to accept online payments. Their fees include a 1.4% + 20p per transaction for online payments, and a 1.4% + 20p per transaction for in-person payments. They also charge a £0 + VAT monthly fee, but require a 1.4% + 20p per transaction fee for payments that are processed in a foreign currency.

Barclaycard: Barclaycard is a leading credit card processor in the UK, offering a range of pricing plans to suit businesses of all sizes. Their fees include a 1.95% + 5p per transaction for online payments, 1.95% + 5p for card present payments, and a 2.95% + 20p per transaction for card not present payments. They also charge a monthly subscription fee of £20 + VAT, and a £20 + VAT setup fee.

Elavon: Elavon is a popular credit card processor for businesses that want to accept card payments in person. Their fees include a 1.49% + 4p per transaction for card present payments, and a 2.19% + 12p per transaction for card not present payments. They also charge a £20 + VAT monthly fee, and a £50 + VAT setup fee.

Payment Sense: Payment Sense is a leading credit card processor in the UK, offering a range of pricing plans to suit businesses of all sizes. Their fees include a 1.44% + 4p per transaction for online payments, 1.59% + 4p for card present payments, and a 2.59% + 12p per transaction for card not present payments. They also charge a £20 + VAT monthly fee, and a £20 + VAT setup fee.

TSYS: TSYS is a popular credit card processor for businesses that want to accept card payments in person. Their fees include a 1.49% + 4p per transaction for card present payments, and a 2.19% + 12p per transaction for card not present payments. They also charge a £20 + VAT monthly fee, and a £50 + VAT setup fee.

Payment Gateway Comparison Chart:

• Fees and Charges:
  • Sage Pay: 1.75% + 5p (online), 1.99% + 5p (card present), 2.9% + 20p (card not present)
  • Worldpay: 1.69% + 4p (online), 1.94% + 4p (card present), 2.85% + 20p (card not present)
  • PayPal: 2.9% + 30p (online), 2.2% + 30p (in-person)
  • Stripe: 1.4% + 20p (online), 1.4% + 20p (in-person)
  • Barclaycard: 1.95% + 5p (online), 1.95% + 5p (card present), 2.95% + 20p (card not present)
  • Elavon: 1.49% + 4p (card present), 2.19% + 12p (card not present)
  • Payment Sense: 1.44% + 4p (online), 1.59% + 4p (card present), 2.59% + 12p (card not present)
  • TSYS: 1.49% + 4p (card present), 2.19% + 12p (card not present)
• Monthly Fees:
  • Sage Pay: £20 + VAT
  • Worldpay: £20 + VAT
  • PayPal: £15 + VAT (up to £1m turnover), £25 + VAT (over £1m turnover)
  • Stripe: £0 + VAT
  • Barclaycard: £20 + VAT
  • Elavon: £20 + VAT
  • Payment Sense: £20 + VAT
  • TSYS: £20 + VAT
• Setup Fees:
  • Sage Pay: £20 + VAT
  • Worldpay: £20 + VAT
  • PayPal: £0 + VAT
  • Stripe: £0 + VAT
  • Barclaycard: £20 + VAT
  • Elavon: £50 + VAT
  • Payment Sense: £20 + VAT
  • TSYS: £50 + VAT

The Best Value Credit Card Machines for UK Merchants

When it comes to cheapest credit card processing UK, merchants are looking for reliable and cost-effective solutions. Choosing the right credit card machine can make a significant difference in your business, especially if you're processing a high volume of transactions. Here are some of the top value credit card machines for UK merchants:

• Worldpay - Worldpay offers a range of credit card machines, including contactless and chip and PIN options. Their machines are known for their reliability and ease of use, making them an excellent choice for businesses of all sizes.
• PayPoint - PayPoint offers a variety of credit card machines, including countertop and mobile options. Their machines are designed to be easy to use and offer features such as contactless and chip and PIN payments.
• Elavon - Elavon offers a range of credit card machines, including countertop and mobile options. Their machines are known for their reliability and offer features such as contactless and chip and PIN payments.
• PayPal Here - PayPal Here is a popular choice for small businesses and sole traders. Their credit card machine is designed to be easy to use and offers features such as contactless and chip and PIN payments.
• Sage Pay - Sage Pay offers a range of credit card machines, including countertop and mobile options. Their machines are known for their reliability and offer features such as contactless and chip and PIN payments.

When choosing a credit card machine, it's essential to consider the following factors:

• Transaction fees - Look for machines with low transaction fees to save money on your payments.
• Monthly fees - Consider machines with low or no monthly fees to save money on your overall costs.
• Reliability - Choose machines that are known for their reliability and ease of use to minimize downtime and lost sales.
• Features - Consider machines that offer features such as contactless and chip and PIN payments to meet the changing needs of your customers.

By considering these factors and choosing the right credit card machine for your business, you can save money on your credit card processing costs and improve your overall profitability.

UK Credit Card Processing Fees Explained

When it comes to finding the cheapest credit card processing in the UK, one of the key factors to consider is the associated fees. These fees can vary greatly depending on the payment processor, payment terminal, and even the type of credit card being used. In this section, we will break down the different types of fees you may incur and what you need to know to minimize your costs.

Here are some of the common credit card processing fees you may encounter in the UK:

• Merchant Service Charge (MSC): This is the main fee charged by payment processors for each transaction. It can range from 0.20% to 0.50% of the transaction value, with an additional flat fee per transaction (typically £0.10-£0.25).
• Interchange Fee: This fee is charged by the card issuer (e.g. Visa, Mastercard) for each transaction. It can range from 0.10% to 1.50% of the transaction value.
• Acquiring Bank Fee: This fee is charged by the bank that issued your merchant account. It can range from 0.10% to 0.50% of the transaction value, with an additional flat fee per transaction (typically £0.10-£0.25).
• Chargeback Fee: This fee is charged when a customer disputes a transaction and the merchant loses the dispute. It can range from £15-£50 per chargeback.
• Monthly Statement Fee: This fee is charged for maintaining your merchant account and can range from £5-£20 per month.
• Transaction Setup Fee: This fee is charged for setting up each transaction and can range from £0.05-£0.20 per transaction.

It's worth noting that some payment processors may offer discounts or promotions to reduce these fees. Additionally, some payment terminals or online payment gateways may have lower fees than others. To minimize your costs, it's essential to shop around and compare the fees offered by different payment processors and payment terminals.

When evaluating the cheapest credit card processing options in the UK, be sure to factor in all the associated fees and not just the main merchant service charge. By understanding these fees and choosing the right payment processor and payment terminal for your business, you can save money and reduce the costs of credit card processing.

Cheapest Credit Card Processing Options for E-commerce Businesses in the UK

For e-commerce businesses in the UK, finding the cheapest credit card processing options can be a challenging task. With numerous providers offering varying rates and fees, it's essential to compare different options to find the best fit for your business. Here are some of the cheapest credit card processing options available in the UK:

• Stripe: Stripe is a popular choice among e-commerce businesses in the UK, offering a flat rate of 1.4% + 20p per transaction. This rate includes all major credit and debit card types, making it an attractive option for businesses with high transaction volumes.
• PayPal: PayPal is another well-known payment gateway that offers competitive rates, starting at 2.9% + 30p per transaction. However, PayPal's fees can add up quickly, especially for businesses with low transaction volumes.
• WorldPay: WorldPay is a UK-based payment processor that offers a range of pricing plans, including a flat rate of 1.4% + 20p per transaction. WorldPay also offers a free trial and a 24/7 customer support service.
• Barclaycard ePDQ: Barclaycard ePDQ is a payment processing service that offers a flat rate of 1.25% + 20p per transaction. This service also includes a free trial and a 24/7 customer support service.
• Sage Pay: Sage Pay is a UK-based payment processor that offers a range of pricing plans, including a flat rate of 1.4% + 20p per transaction. Sage Pay also offers a free trial and a 24/7 customer support service.

When choosing the cheapest credit card processing option for your e-commerce business, consider the following factors:

• Transaction fees: Look for providers that offer low transaction fees, which can be a significant cost for businesses with high transaction volumes.
• Interchange fees: Interchange fees are charged by banks and card schemes for processing transactions. Look for providers that pass on these fees to you, rather than adding them to your overall rate.
• Setup fees: Some providers charge setup fees, which can be a one-off cost. Look for providers that don't charge setup fees or offer a free trial.
• Customer support: Good customer support is essential for resolving issues quickly and efficiently. Look for providers that offer 24/7 customer support and a free trial.

By considering these factors and comparing different options, you can find the cheapest credit card processing option for your e-commerce business in the UK.

Avoiding Hidden Charges in UK Credit Card Processing

When searching for the cheapest credit card processing in the UK, it's essential to be aware of hidden charges that can quickly add up and increase your overall costs. These charges can be sneaky and may not be immediately apparent, but they can significantly impact your business's profitability. Some common hidden charges to watch out for include:

• Interchange fees: These are the fees charged by the bank to process a credit card transaction. They can vary depending on the type of card, the merchant category, and the location of the transaction.
• Authorization fees: Some credit card processors may charge a fee for authorizing transactions, even if the transaction is not ultimately completed.
• Statement fees: These fees are charged for generating and sending statements to your customers.
• PCI compliance fees: These fees are charged for maintaining your business's Payment Card Industry Data Security Standard (PCI-DSS) compliance.
• Chargeback fees: These fees are charged when a customer disputes a transaction and the credit card issuer reverses the charge.

Additionally, some credit card processors may charge for additional services such as tokenization, which replaces sensitive card details with a unique token, or recurring payment processing, which allows customers to set up regular payments. These services can be useful, but they may also come with additional costs.

To avoid hidden charges, it's essential to carefully review your credit card processing agreement and understand all the fees associated with your account. You should also shop around and compare prices from different credit card processors to ensure you're getting the best deal. Some popular credit card processing options in the UK include:

• WorldPay
• Barclaycard
• Sage Pay
• PayPal

When choosing a credit card processor, make sure to ask about any hidden charges and ensure you understand the fees associated with your account. You should also look for a processor that offers transparent pricing and no hidden fees. By being aware of hidden charges and choosing a reputable credit card processor, you can avoid unnecessary costs and keep more of your hard-earned profits.