Transaction fees are not the same for everyone – you have to contact Worldpay for a quote, because they base rates on your type of business, sales volume and types of cards accepted.
Businesses selling for less than £2,000 monthly will not get the most competitive fees, particularly with the monthly cost factored in. But anything above this threshold is likely to be cheaper than, say, Square’s payment links that come with no monthly fees.
The lowest rates are for domestic consumer cards by Visa and Mastercard (e.g. 0.95%), whereas foreign, premium and corporate credit and debit cards have the highest fees (e.g. 2.75%). There’s also a fixed fee added to the percentage rate, such as 10p or 20p. American Express has separate costs and may require an additional agreement.
In contrast with virtual terminals where you pay for PCI-DSS compliance (payments security standard), you do not have to implement and pay for PCI-DSS compliance with Pay by Link. That’s because the customer enters their own card details, so you never have to handle those yourself.
You can expect fees for chargebacks and refunds, which are specified in the contract.