UK Merchant Account

May 17, 2023

A UK merchant account is a necessity for anyone operating an online business in the United Kingdom. With international world commerce thriving, many companies look for unique solutions across the globe.

As a business in the UK, operating businesses overseas may be difficult. However, if you want to extend your brand to new countries, it’s worth it to find payment processing solutions that fit your needs.

Some of the most common types of credit cards used in the United Kingdom are:

• Tesco Bank ClubCard MasterCard
• Barclaycard Freedom Rewards Visa
• Halifax FlexiCard MasterCard
• HSBC Advance Credit Card
• Co-operative Bank 3 Year Fixed Rate Visa

Regardless of the type of credit card a customer uses, you want a merchant account and payment gateway that can accept a variety of online payments.

As you see from the short list above, the different types of cards offer incentives and perks based on the customer’s preference. Nonetheless, the major card brands are internationally recognized.

In the UK, Visa and Mastercard are most often used. Second to them, American Express and Diners Club cards are used less often but are still accepted by most businesses.

Processing In The Various Countries Of The UK

The United Kingdom comprises four major countries – England, Northern Ireland, Scotland, and Wales. Each country has its own laws and regulations for online banking transactions. Similarly though, each country has the same need for online payment processing.

All of these countries use the pound sterling as a means of currency. Nonetheless, if you want to allow customers to make international transactions, you may find yourself looking for an ISO with global partners. Outside of the Eurozone, most other countries have their own type of currency.

For example, if you own a vape shop in Ireland and want to sell online items to Germany, you’ll have to have a specialized merchant account to exchange currencies. In some cases, you can find companies abroad that will transfer their currency to yours in order to make the transaction. This, however, comes with costs and additional time.

UK Merchant Acquirers

Merchant acquirers in the UK are not as abundant as you may think. There are many types of banks that provide different services, but finding one to help you process Visa and MasterCard payments can be difficult. Additionally, you’ll want to find a banking partner that charges low premiums.

UK Merchant Account Fees

Fees can range from around 1% – 7% on international merchant accounts. This number is based on your type of business, sales volume, and the number of years you’ve been in business. It’s imperative to discuss all of the specifics with a UK payment processing provider. At PayKings we work toward getting your rates down as low as possible so you can focus on running your business.

PayKings and UK Merchant Accounts

PayKings has the resources to help your UK business thrive. You set up processing fast with our expansive network of global banking partners. Your UK business should not be limited to different forms of payment. Be sure companies are getting the most from your online sales by getting credit card processing for your site.

Whether your country of operation is Wales, Scotland, England, or Northern Ireland, our team can work with you to develop the best merchant accounts and sustainable tools to keep your business growing worldwide.

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