Worldpay fees and costs
To get a Worldpay card machine, you need to sign up for an 18-month contract with monthly charges and card fees tailored for your business.
The fees are partly negotiable (get a quote here), but certain costs are the same for everyone.
The more you know about your sales volume, distribution of cards accepted and overall requirements, the easier it will be to reach a fair quote. And the higher your transaction volume, the better are your transaction fees. Otherwise, you may end up with the higher total cost than what you can get elsewhere from the likes of Takepayments and SumUp.
What draws new customers to Worldpay is the Custom plan where you can get a tailored fees for debit, credit and business card. In this was mostly restricted to businesses with an annual card turnover of at least £100k, or typically above £250k. Worldpay can now also offer these tailored rates for merchants transacting for less, making it an option to consider also for sole traders.
Debit card fees are can get as low as 0.3%, but typically 0.6% for lower volume sellers. Credit cards issued in the UK would typically be in the 0.9 – 1.5% range, with the option to negotiate even lower fees for businesses taking in above £2 million. Business and non European card rates would be above2 2%, typically around 3% for the smaller merchants.
Overall, Worldpay gets bonus points for their transaction fees, as long as you are able to hold your own when negotiating the contract.
There are monthly minimum charge (from £15/month) if transaction fees do not reach the agreed minimum that month. Debit and credit cards have different rates plus an authorisation charge, but they are only specified during your chat with Worldpay.
You also pay from £17.95 + VAT for the desktop terminal or £23 + VAT monthly for the mobile terminal in rental, with merchant account costs added on top. PCI management requires a monthly fee of £5 monthly.
Smaller businesses accepting less than £100,000 can opt for the Simplicity plan. On this, you pay one fixed monthly fee that covers terminal hire, the merchant account and PCI compliance.
It has no monthly minimum service charge, but that’s because you’re paying a higher fixed monthly fee covering everything except for transactions, which have a rate of 1.5% for all cards without an authorisation fee.
We think that you are better served by the Custom plan though, especially if you accept mostly UK debit and credit cards.