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Find the right card payment provider

Save up to £5,400* a year on your small business card payments

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*The National Federation of Retail Newsagents estimated that when its members switched acquirers, they saved between £100 and £450 per month on the cost of card acceptance services. This means a NFRA member (largely single sites) could potentially save up to £5,400 a year. Larger businesses could save more. Savings are indicative and will vary based on the information provided by the merchant to Statement.

How it works

It's quick and easy to find a card payment provider

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Answer a few simple questions about your business
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Compare deals from relevant payment providers
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Switch to your chosen provider and save

Why Statement?

We're making payments simple for small business

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They offer all the card types you want
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Choose a terminal that suits your needs
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Get fair rates

Why should I compare providers?

Just like your insurance, payments are priced on risk. As a result, pricing and products regularly change. Searching for a new contract will help ensure you’re on the most competitive pricing and using the latest technology.

What are payment providers?

Payment providers help your business to accept payments from customers online and in-person. The majority do this through credit and debit cards, but some will also offer alternative payment methods such as open banking and buy now pay later.

Examples of payment providers on Statement include Barclaycard, Worldpay, Tyl by Natwest and Teya.

What payment methods can I accept?

Payment providers offer a variety of methods to accept payments from your customers. The three main types are:

Card-based payments

This category includes credit cards, debit cards, and prepaid cards. These types of payments are often processed via networks such as Visa, MasterCard, American Express, Discover, and others. They are widely used for both online and in-person transactions.

Bank payments

This method includes payments made directly from one bank account to another. This method is often used for recurring payments like bills or subscriptions.

Digital payments

This is a broad category that includes all payments made using digital or mobile technology. This can include app-based services like PayPal, Google Pay, and Apple Pay. It can also include mobile payments made using contactless technology or QR codes.

What information does Statement need about your business?

To generate you an accurate quote Statement will need to gather some information about your business, this normally takes three minutes. 

  • Your business: annual card turnover, your average transaction value, what your business does.

  • Your payments: where you accept payments (whether that’s online, in-person or both), how you accept payments (the products you’ve chosen), who you accept payments from (where your customers are based) and the card type they are using (whether that’s a debit, credit or business card).

Key things to remember when searching for a payment provider

Fees

One of the most important considerations is the cost. Providers usually charge per-transaction fees, which can include a fixed cost and a percentage of the transaction value. Some may also charge setup or monthly fees. You'll want to choose a provider with a fee structure that makes sense for your business size and transaction volume.

Acceptance of different cards

Check which types of credit and debit cards the payment provider can process. It's important to choose a provider that can handle a wide range of cards, including Visa, MasterCard, American Express, and potentially others.

Speed of processing

Find out how quickly the payment provider can process transactions and deposit funds into your bank account. While some providers offer same-day or next-day deposits, others might take longer.

Security

The payment provider should comply with all relevant security standards, including the Payment Card Industry Data Security Standard (PCI DSS). This helps ensure the security of your customers' card information.

Integration

How well does the provider's system integrate with your existing infrastructure, such as your POS system, online store, or accounting software? Smooth integration can help reduce administrative burdens and ensure a better experience for your customers.

Customer support

Reliable and responsive customer service is crucial. Check if the provider offers support 24/7, and consider looking at reviews to see how well they handle customer issues.

Fraud protection

Some payment providers offer tools and services to help you detect and prevent fraudulent transactions. This can help protect your business and your customers.

Flexibility and Scalability

Ideally, the payment provider should be able to support your business as it grows and evolves. This could include the ability to handle increased transaction volumes, support for multi-currency transactions if you expand internationally, or additional services like invoicing or recurring billing.

Contract terms

Finally, carefully review the terms of the contract. Some providers may require a long-term commitment or impose penalties for early termination.

Key things to remember when searching for a payment provider

Fees

One of the most important considerations is the cost. Providers usually charge per-transaction fees, which can include a fixed cost and a percentage of the transaction value. Some may also charge setup or monthly fees. You'll want to choose a provider with a fee structure that makes sense for your business size and transaction volume.

Acceptance of different cards

Check which types of credit and debit cards the payment provider can process. It's important to choose a provider that can handle a wide range of cards, including Visa, MasterCard, American Express, and potentially others.

Speed of processing

Find out how quickly the payment provider can process transactions and deposit funds into your bank account. While some providers offer same-day or next-day deposits, others might take longer.

Security

The payment provider should comply with all relevant security standards, including the Payment Card Industry Data Security Standard (PCI DSS). This helps ensure the security of your customers' card information.

Integration

How well does the provider's system integrate with your existing infrastructure, such as your POS system, online store, or accounting software? Smooth integration can help reduce administrative burdens and ensure a better experience for your customers.

Customer support

Reliable and responsive customer service is crucial. Check if the provider offers support 24/7, and consider looking at reviews to see how well they handle customer issues.

Fraud protection

Some payment providers offer tools and services to help you detect and prevent fraudulent transactions. This can help protect your business and your customers.

Flexibility and Scalability

Ideally, the payment provider should be able to support your business as it grows and evolves. This could include the ability to handle increased transaction volumes, support for multi-currency transactions if you expand internationally, or additional services like invoicing or recurring billing.

Contract terms

Finally, carefully review the terms of the contract. Some providers may require a long-term commitment or impose penalties for early termination.

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Helping small businesses like yours to find and switch to the right payments provider.

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