Choosing the Right Card Payment Providers for Your UK Business
Finding a reliable and trustworthy card payment provider for your business in the UK can be difficult. We share how you can choose the right payment card provider for your UK business. The United Kingdom has significantly transformed the rapidly evolving payments landscape, with E-commerce paving the way for 24/7 transactions. That has helped businesses eliminate the need for constant physical presence. Innovations like Contactless and Chip & PIN have revolutionized the High Street, while the likes of Apple Pay and Google Pay have streamlined contactless payments via smart phones for customers of UK business.
This rapid and extensive transformation resulted in card payments exceeding cash transactions in the final quarter of 2022, surpassing industry forecasts by a full year. According to research conducted by UK Finance, cash is projected to constitute merely 16% of all transactions by 2026.
Before considering the best card payment providers in the UK methods to accept card payments, you must choose between the primary methods to accept card payments for your UK business. These include the likes of:
1. Card Machines:
Card machines are available in three main variants: countertop, portable, and mobile, each tailored to your specific business requirements.
● Countertop machines: These are well-suited for businesses with fixed points of sale.
● Portable card machines: These utilize Wi-Fi or Bluetooth to facilitate on-the-go payments, making them ideal for cafes, restaurants, and bars.
● Mobile card machines: These connect to mobile networks, enabling payments while moving, which is especially beneficial for market traders and event vendors.
All card machines offered by We Tranxact Ltd boast cutting-edge software, integrated receipt printers, and support for contactless payments, Apple Pay, Google Pay, and Samsung Pay. Additionally, we provide a 24-hour replacement service should your machine encounter any issues.
2. Payment Gateway:
A payment gateway is the digital equivalent of a physical card machine, enabling you to accept payments through your website, phone, or email. This flexibility empowers businesses to engage in e-commerce, expand their global reach, and accept orders anytime.
3. Mobile Payments:
Mobile payments are on the rise, with 672 million smartphone-based payments recorded in 2022, a number expected to grow to 988 million annually over the next decade. Mobile payments offer a significant advantage, as they are not constrained by the transaction limit associated with contactless payments.
Furthermore, they often require additional customer validation, such as a passcode or fingerprint ID, making them suitable for high-value transactions. This is why they are often used by artisans and jewellers, who sell high-priced items that are susceptible to theft.
4. Integrated Payments:
A staggering 40% of businesses suffer weekly losses due to human errors. Integrated payments streamline administrative processes and mitigate revenue losses. The advent of cloud-based technology has made integrated payments accessible even to smaller businesses, eliminating the need to input transaction data twice and reducing costly mistakes.
5. Merchant Services:
We Tranxact Ltd, offer Merchant Services at no additional cost. These include fund availability checks, industry-standard security measures, transaction processing, and fee deductions. Although this typically takes 4-6 days, we provide these services free of charge, driven by the belief that small businesses in the UK deserve all the assistance they can get.
Selecting the right payment system for your UK business hinges on your specific needs, and we are here to assist you in choosing the ideal card machine for your operations. We can provide additional services such as automatic receipt roll replacement and guidance on PCI-DSS compliance.
Why We Tranxact Ltd?
We Tranxact Ltd has rapidly emerged as one of Europe’s fastest-growing payment processing companies across the UK and Ireland. As an independent entity, we leverage the collective purchasing power of our customers to negotiate more favourable fees. Our UK-based technical support team operates 24/7, ensuring the swift resolution of any issues with your card machine.
When considering the best card payment providers in the UK, We Tranxact Ltd offers a comprehensive suite of services tailored to the diverse needs of businesses nationwide. Whether you require a card machine, payment gateway, mobile payments, integrated payments, or merchant services, we ensure all your needs are covered.
So, make the informed choice for your business, visit our website for more information, and join thousands of satisfied customers who rely on us for seamless payment processing for their business in the UK today.
