A guide to On-line Payment Services

To take online Electronic payments you need to open an account with a Payment Service Provider to collect the card details over the Internet.

A Payment Service Provider (PSP): is a “virtual” PDQ swipe card machine that collects the card details over the Internet and passes them to the acquiring bank. To take Electronic payments over the web , you will need a PSP at a small cost. Some acquiring banks offer PSP services as part of their product and there are other less expensive options available.

Your choice of PSP will depend on its cost and compatibility with your chosen e-commerce software solution. A fixed monthly fee starts around £10, but there are some cheaper option available starting as low as £0.05 per transaction. Usually, the higher your transaction volume the cheaper the rate you will be charged.

PayPal

NoChex

NOCHEX is an online payment system that enables businesses and individuals who are trading online to accept instant, guaranteed, low cost payments, from any one with a UK credit or debit card.

Fees are very competitive for low to medium transaction volume, also money can be withdrawn after only 3-4 working days.

Worldpay

WorldDirect is a quick and easy way to obtain an Internet Trading Account. With an acceptance rate of over 90 percent, you could be trading in just 48 hours.

A rolls royce service, but comes at a price..

ePDQ

ePDQ from Barclaycard Merchant Services. Take card payments online, with peace of mind from knowing that you are dealing with a leading financial organisation.

A premier service from BarclayCard..