How to Compare Card Payment Providers

How to Compare Card Payment Providers

Choosing a card payments provider means comparing more than one number. This article lists what to compare and what to ask each provider, so that you can set them side by side using your own statement.

The rate, and what it includes

Ask whether the rate is blended or unblended. A blended rate is one rate for a type of card. Unblended pricing shows costs such as interchange and scheme fees as separate lines. Then ask which additional fees can apply, for example American Express, card not present payments, international cards, PCI compliance, a minimum monthly charge, and refunds. Our guide to additional fees on your statement explains each one.

Terminals and software

Ask what a terminal costs to pay once and to rent, what happens if it breaks, and whether it works with the till or ePOS system you already use. Check the list of supported systems with the provider, using the name of your own system.

Support

Ask how you reach support, at what hours, and whether the first answer comes from a person or from an automated assistant. A provider should tell you plainly which it is.

At Klipy, each business that joins through us has a named account manager, Jamal. He takes you through onboarding, and he is the person to contact if something goes wrong. To reach him, write to support@klipy.uk.

Settlement

Ask how soon money reaches your account on each settlement option, what each option costs, and whether it needs a business account.

The contract

Ask about the length of the contract, the notice period and any early termination fee.

Who provides the payment service

Ask which firm provides the payment service, and whether it is authorised by the FCA. Klipy UK Limited introduces businesses to Teya, and Teya provides the payment services.

If you switch

Ask what happens to your existing terminals and contract. Check your current contract for a notice period or an early termination fee before you apply.

Compare with your own statement

Upload your current statement. Our AI reads the charges on it, works out your blended rate and prepares an estimate for you. No obligation.