Merchant Account provider

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Can anybody recommend a merchant account provider?

A family member owns a takeaway and uses Just eat at the moment but is thinking of setting up his own website and taking payments via card at the shop as well.

Thanks in advance.

[wheelerc]

For online, Stripe are excellent. Not sure if they do terminals but it might be best to speak to the bank for those.

PayPal rates are a bit higher but lots of people already have PayPal accounts so trust them and it's easier for them. PayPal do terminals too I think. Look at accepting contactless and apple/android pay on the terminal too.

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Cheers

Worldpay looks quite popular...anybody have any experience of that?

[Junior Bianno]

Avoid Worldpay - the application process is unpleasant as will be the rates that sort of business will be offered. There are also lots of hidden costs.

Stripe is good for online transactions through your website, and has an online terminal for occasional offline payments. They don't have their own terminal offering. Pretty good rates though - 1.4% for all cards types plus a 20p transaction charge. Payment takes 5 working days which isn't ideal though. Takes about 5 minutes to set up/

If you need a terminal, Square is a good option. More expensive transaction costs but simple service. iZettle worth checking out as well.

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Cheers

Am I right in thinking that iZettle doesnt have an online offering?

He needs one that combines both online and inshop (and possibly one that allows his drivers to take payments when out and about).

[maffski]

Stripe don't have their own card readers but there are some companies that can supply a card reader to work with them - https://stripe.com/works-with/categories/card-read...

[Junior Bianno]

Last time I checked adding an external terminal offering to Stripe added about 1% to the transaction cost. There may be cheaper offerings now.

Using Square for online transactions is 2.5%, so similar to Stripe with an external terminal. It's probably cheaper to use Square if you use do more terminal transactions, and vice versa if it's more online.

[essayer]

They're all terrible.

Best thing is to get an estimate of turnover and get quotes from all of them.