Cheapest is a moving target
The cheapest option depends on monthly volume, average transaction value, card mix and whether you take payments in person, online or both.
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Under £2k/month
SumUp, Zettle - pay-as-you-go, no monthly fees, cheap hardware.
£2k to £20k/month in-person
Teya, Dojo or a small merchant account. Blended monthly plans usually beat pay-as-you-go here.
£20k to £100k/month
Interchange Plus with Worldpay, Barclaycard, Elavon or Adyen.
Above £100k/month
Negotiated Interchange Plus with a tier-one acquirer or Adyen.
Online-first
Stripe or Shopify Payments at small/mid volume; negotiated IC+ above £100k/month.
Hidden costs to check
Terminal rental, monthly minimums, PCI, authorisation fees, cross-border fees and gateway fees. Any one of these can flip the ranking.
Key takeaways
- ●Cheapest depends on volume band and channel.
- ●The cheapest headline rate rarely wins on total cost.
- ●Always compare on the full monthly statement, not headline alone.