Want to give your business a competitive edge? It’s time to start accepting cashless payments. A merchant account provider in the UK will allow your business to process card transactions and send your money profits straight to the bank.
Factors to consider when selecting a merchant account provider in the UK
- Type of business
Every business has different requirements. Restaurants, for example, can benefit from payment terminals that can be brought directly to the customer. In this scenario, a merchant account provider with portable card machines is the ideal choice.
Meanwhile, brick-and-mortar stores selling clothes, electronics, and similar products can work more efficiently with countertop card machines. This way, your staff won’t need to move around and risk leaving the counter unmanned.
Are you planning to open an online store? Do you want to start accepting more modes of payment? No business should remain stagnant; a reliable merchant account provider will consider your growth.
If you want to expand soon, consider a provider offering various payment channels, such as credit cards, debit cards, and mobile payment services like Apple Pay and Google Pay.
Most merchant account providers will require you to sign a contract for your partnership. You must consider two crucial aspects before finalising the deal: the contract length and the termination fees.
For example, Barclaycard’s Flex mobile card reader has a contract length of 18 months, but it also has a cancellation cost of £0. This makes it ideal for businesses without an existing card machine and for low-value transactions.
There are numerous merchant account providers in the UK, including leading companies like Barclaycard and First Data. To find the ideal provider for your requirements, consider using our comparison tools at Compare Card Process. We can provide an accurate quote of credit card processing fees according to your unique business requirements, giving you an overview of prices from up to 15 different providers.