Worldpay pay as you go

mikemoore_2

Hey all

First time poster long time reader here.

I am just about to sign up to worldpay pay as you go but wondered if there is anything else i need to know first. Is there a contract as such? is there any penalty if in 3 months time i dont require it i can cancel the service? It says they give a card reader free then it says terms and conditions apply... but i cant find anything written about this. If anyone uses this service i would appreciate any advice.

I find it hard to believe they send out free terminals with no commitment!!!!!

Many thanks for your time

greyteam1959

I would find out an awful lot more about this BEFORE signing up.
I can tell you without looking that there will be some serious T & C's to get a free card reader !!
HTH

chalkie99

Well they do send out free terminals, presumably as a sort of loss leader to get their system established.

There is no contract with regards to period of use, the contract only relates to how you must process transactions, i.e. in accordance with the terms and conditions laid out by WorldPay. Nothing out of the ordinary.

What you need to know is that the sign up forms require your business details to check you are a bona fide trader and you will be credit checked.

Also, it is aimed at businesses taking less than £25k per annum by card with a single sales limit of £5k.

A good system for many people though.

chalkie99

mervyn11 wrote: »

I would find out an awful lot more about this BEFORE signing up.
I can tell you without looking that there will be some serious T & C's to get a free card reader !!
HTH

Really? :huh:

On what basis?

greyteam1959

What are the actual charges per transaction going to be ???
4/5/6/8 % on credit cards ????
40/50/60/80p per debit card ????
If the charges are on this sort of scale the a 'free' card reader suddenly becomes an expensive 'free'.........

bni

I read the Ts&Cs, it took me at least an hour. I didn't find anything surprising, no hidden catches or penalties. The card reader will be charged for in the future (according to how the terms are structured, e.g. clauses about warranty, right of return, etc), but is currently charged at a price of zero. I assume it's a promotional strategy to get critical mass of customers, or things might just have changed since terms were drafted (e.g. more competition in this sector).

bni

mervyn11 wrote: »

What are the actual charges per transaction going to be ???
4/5/6/8 % on credit cards ????
40/50/60/80p per debit card ????
If the charges are on this sort of scale the a 'free' card reader suddenly becomes an expensive 'free'.........

3.30% on credit cards
65p on debit cards

Transaction rates are of course higher, but as there are no fixed or monthly charges it is still cheaper when you only have a very low volume of card payments.

Anyone would easily be able to calculate the break even point for their business where upgrading to a fully fledged card processing solution is warranted.

greyteam1959

There you go then.....thats how you get a 'free' card reader.
If you are only doing a small turnover on high profit margin goods on cards it sounds a pretty good deal to me.
As you say its a promo.....
I pay 1.25% on credit cards & .17p per transaction on debit cards.
HTH

phill99

mervyn11 wrote: »

There you go then.....thats how you get a 'free' card reader.
If you are only doing a small turnover on high profit margin goods on cards it sounds a pretty good deal to me.
As you say its a promo.....
I pay 1.25% on credit cards & .17p per transaction on debit cards.
HTH

Can I ask who you are with? I'm looking at taking cards (currently don't). Have been quoted 1.85% on cc and 39p on dc. But there is a £99 set up cost, a minimum fee spend of £19.99 a month regardless of whether I use it or not and although it's 'contractless' I still have to give 3 months notice and obviously pay the £19.99 a month. So effectively it's going to cost me a minimum of £157.96 whether I take any payments by card or not. I was looking at the world pay pay ad you go, but currently you can't use it via an iPad which I was hoping to do.

greyteam1959

I use www.acceptcards.co.uk .
They set me up with Allied Irish Bank ( AIB ) as the merchant services & 123send for the terminal supply.
£22.50 + VAT per month for wireless card terminal
17p per debit card transaction
1.25% per credit card transaction
The charges are based on what you turnover on the cards so you might get a better or worse rate.
I accept payments over the phone but only maybe 10 per month.
95% of my transactions are retail sales on the shop floor.
You could look at acceptcards website then give them a ring for a quote, they were very helpful when they set me up about 4 years ago after I took the hump with BMS.
I think they have an initial 12 month contract.
Ask if you want to know anything else.
HTH

phill99

mervyn11 wrote: »

I use www.acceptcards.co.uk .
They set me up with Allied Irish Bank ( AIB ) as the merchant services & 123send for the terminal supply.
£22.50 + VAT per month for wireless card terminal
17p per debit card transaction
1.25% per credit card transaction
The charges are based on what you turnover on the cards so you might get a better or worse rate.
I accept payments over the phone but only maybe 10 per month.
95% of my transactions are retail sales on the shop floor.
You could look at acceptcards website then give them a ring for a quote, they were very helpful when they set me up about 4 years ago after I took the hump with BMS.
I think they have an initial 12 month contract.
Ask if you want to know anything else.
HTH

Thanks for the feedback.

I'm just a bit reluctant to pay a monthly fee. As this will be my first time at accepting cards I am just trying to gauge the response. I am a tradesman and work in people homes so need a virtual / mobile type terminal. This is why the worldpay pay a you go is of interest as if I don't get any customers wanting to use cards, then I won't be locked into a contract and won't have wasted money on set up fees.