Learning • 7 min read

How To Compare Merchant Service Providers

A structured framework for comparing UK card payment providers on more than just the headline rate.

The six dimensions to compare on

Effective rate

Total card fees ÷ total card turnover. The only honest pricing comparison.

Contract terms

Length, notice period, auto-renewal.

Terminal hire

Separate or bundled? Length? Hardware quality?

Settlement

How long until funds land? Any premium for faster settlement?

Support

Phone hours, escalation paths, replacement terminal SLAs.

Total cost of ownership

All recurring fees over the full contract term, not month one.

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Why headline rates lie

A 0.65% headline can sit alongside a £25 monthly minimum, a £35 PCI fee, a £30 terminal hire and a £10 authorisation bundle - making the real effective rate substantially higher.

Key takeaways

  • ●Compare effective rates, not headline rates.
  • ●Account for contract length, terminal hire and recurring fees.
  • ●Total cost of ownership matters more than month-one savings.

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Understanding Your Merchant Statement

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How Card Payment Pricing Works in the UK

Blended, Interchange Plus, IC++ and pay-as-you-go pricing explained, with the trade-offs each model brings.

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Questions To Ask Before Switching Provider

Ten questions every UK business should ask any new merchant services provider before signing.

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