Technical

Payment Gateway Providers in the UK

Description of the image

How fast the technology is evolving these days! Just a single tap, and you are done with the transactions. With mobiles, digital wallets, and credit and debit cards, no matter which medium or method you choose, the transaction is swift and secure.

The UK is home to some of the major payment gateway providers that have gained popularity across the globe for their authenticity and customer facilities. And over recent years, the UK has seen a significant rise in the use of digital payments among its citizens.

Today, several reliable sources claim that more than 80% of the UK's population makes e-commerce purchases. This means four out of five consumers in the UK prefer digital transactions. The list of best payment gateway providers is long, but PayPal ranks the highest, with more than 20 million users across the UK, followed by Worldpay, Braintree, Stripe, Authorize.net, and many more.  

Are you concerned about which secure payment gateway is ideal for your business? Read further to know about the list of best payment gateways in the UK

What Are Payment Gateways?

An end-to-end encrypted technology widely used by merchants to accept customer payments, payment gateways offer a secure path for making digital transactions and transferring payments end-to-end. Payment gateways help users send money from their bank accounts to merchants swiftly and protect their personal data from potential cyber threats. In short, payment gateways work as middlemen between merchants and their customers to create a secure path for sending and accepting payments through websites or mobile applications. 

A majority of users have a common question: Why are payment gateways secure for transactions? And the answer to this is very simple. Payment gateways are encrypted for data protection, and they can integrate with several payment methods and track the real-time processing of transactions made. This way, a secure bridge is created between the sender and the receiver, and the transactions securely pass from one bank account to the other.

Although the process of transacting through payment gateways takes just a few seconds, a lot goes on in the background that not many users are aware of. Every transaction made involves several parties, including the payment gateway provider, the acquiring and the issuing banks, the e-commerce merchant, and the card network. All of these integral parties come together to make your every transaction secure and fast.    

Factors To Consider When Choosing Your Payment Gateway Provider

With the rise of digital buyers worldwide, a common fear of cyber attacks is rising simultaneously. Making online transactions has become the easiest task for people of all age groups, but does it also push them towards cyber threats more every day? While it is impossible to predict when or where cyberattacks can happen, the power of securing online transactions is in the hands of the buyers. 

By choosing the best payment gateway in UKbusinesses and buyers can worry less about payment authenticity and security. Here are some significant factors that must be considered when choosing a payment gateway provider. 

Security

Every financial transaction involves sharing sensitive financial information, and protecting this sensitive customer data is of utmost importance for a business. The right payment gateway provider will verify the customer's financial details but protect it from fraud by preventing unauthorized access. This end-to-end encrypted way of transferring money from the customer's bank to the merchants eliminates the involvement of third parties and boosts security. 

Pricing

An important quality of an authentic payment gateway provider is maintaining transparency in pricing. This means there are no hidden costs involved in the transaction, and the additional transactional charges (if any) that the customers have to pay during the transactions are crystal clear. In some cases, when the transactional amount is high, payment gateway providers charge a minimal transactional or convenience fee. But usually, it is in the hands of businesses to choose among the types of charges they are willing to pay. There are three options available:

  • Transactional fee
  • Set-up fee, and
  • Monthly fee

Multiple Payment Method Support

If you aim to find the best payment gateway UK, the provider must accept different modes of payment for ease of customer usage. Through multiple payment method support, the gateway providers ensure their customers have the freedom and ease to make payments through different modes of payments, such as debit and credit cards, digital and mobile wallets, and online bank transfers.

Currency

For a merchant, global outreach is the key to expanding the business; therefore, choosing a payment gateway provider that allows you to send and receive payments from different currencies and easily convert them is necessary. The multiple currency support feature helps you get international reach and allows your customers to pay easily. However, most gateway providers charge additional fees for transactions in foreign currencies that you must keep a check on. 

Reliability

The reliability of a payment gateway provider matters the most. Factors like downtime, customer support facilities, and user reviews are great sources for determining whether the chosen payment gateway is authentic and trustworthy. In case of any inquiry or technical issue, the payment gateway provider must responsibly address the issues through different communication channels like e-mails, direct messages, live chats, and calls. 

Compatibility

Choosing a payment gateway that is compatible with all devices and also offers e-commerce store integration is a wise decision for a merchant. All device compatibility ensures your customers can make payments through the devices of their choice, and the money gets transferred to your e-commerce store account without much hassles. 

Billing Options

By allowing integration with other systems, your payment gateway can help connect with your business's accounting software and invoice whenever a transaction takes place. In this way, generating bills, sending invoices, or making payments for your recurring bills becomes the easiest.  

The Top Payment Gateway Providers in the UK

The list of the best payment gateway UK providers is long, which is why, as a business, making the right choice amongst many options can seem confusing. The never-ending list of payment gateway providers in the UK clearly depicts how popular digital transactions are in this country and how the majority of the population is making the most of end-to-end encrypted technologies for making secure payments. 

Here is the list of top payment gateway providers in the UK with unique features and customer facilities that can help your business make the best choice. 

  1. PayPal
  2. Stripe
  3. WorldPay
  4. Checkout.com
  5. Ayden
  6. Revolut
  7. GoCardless
  8. Braintree
  9. Authorize.net
  10. Trust Payments 

 

Below are the best payment gateway UK providers discussed in detail with a focus on their pricing, pros, and cons. 

PayPal - All-In-One Solution

A globally recognized name and one of the most popular and widely used payment gateways, PayPal is a trusted international payment gateway provider that functions through its website and mobile app, enabling money transfers online through different modes and currencies.

PayPal follows a very easy-to-use interface; users can easily create an account through their convenient devices and link it to their bank account where they desire to receive or send payments. They can also link a credit or debit card to make online purchases. The PayPal account allows users to send and receive payments instantly with or without transaction charges depending on factors like:

  • Amount of the transaction
  • Currency in which the payment is received or sent (sending money from one country to another)

 

Because of its user-friendly interface and quick customer support services, PayPal is used by millions of small and large-scale retailers across the UK and the world. The website and the mobile application remain popular for domestic and international users as the security and authenticity of the transactions remain unquestionable. The special features like security, payment through multiple modes, and the ease of foreign currency transactions make PayPal the best payment gateway UK. 

Pricing

Users worldwide can create an account on PayPal and download the mobile app for free. However, for businesses, there are separate transaction charges. They are required to pay 3.49% of every transaction amount as merchant charges and 49¢ as a transaction amount for invoiced articles.

Pros

  • Easy-to-use interface
  • Instant, hassle-free payments 
  • High security and privacy measures
  • Swift international transactions and currency conversion
  • Easy to create business accounts for merchants that support invoicing 
  • Records the history of past transactions

Cons

  • Currency conversion rates are not updated regularly
  • Transaction charges for international payments are mostly high 

Developer Help Links

PayPal Rest API

PayPal Tech Support Community

Stripe

Another best payment gateway in UK, Stripe is ideal for businesses seeking an international payment platform with customization options and lower transaction charges. Stripe has grown in popularity in recent years among businesses of all sizes, including startups, for its several customization options and lower transaction fees. The best part about using Stripe is not having to bear monthly costs or pay any set-up fee. However, when using non-European cards for transactions, Stripe applies additional, sometimes extensive charges. 

Pricing

The charges of Stripe on international and domestic payments vary, such as:

 

  • You must pay 1.4% + 20p on transactions made through European cards
  • Pay a charge of 2.9% + 20p on transactions made through non-European cards
  • 2% charge on currency conversion
  • 0.5% charge for recurring payments

Pros

  • User-friendly interface and integration
  • Hassle-free international payments allow transactions with over 135 currencies
  • Comprehensive payment system
  • Customisation options 
  • Advanced security

Cons

  • High transaction fee
  • Customer support is unsatisfactory
  • Fear of account suspensions
  • Acceptance of limited merchant category codes leading to restricted credit card processing

Developer Help Links

Stripe Tech Support

Stripe Support 

Worldpay from FIS

A great choice for businesses wanting to accept online payments through different methods, Worldpay makes B2B and B2C transactions easy and secure. Worldpay gives users the freedom to create individual or business accounts depending on the volumes of their purchases and sales. The platform also offers several payment solutions like ‘pay by link’ and other user-friendly options to suit commercial and individual requirements. Worldpay is an ideal option for e-commerce businesses wanting to make hassle-free B2B payments. 

Pricing

Worldpay follows a monthly billing model; hence, the prices vary. 

Pros

  • Secure payments
  • Variety of payment options
  • Supports multiple payment modes and currencies

Cons

  • Lack of transparency in pricing

Developer Help Links

Card Payments API 

Developers API

Checkout.com

A British multinational payment gateway provider and among the best payment gateway UK companies, Checkout.com offers a single API and a united processing solution and payment platform. Checkout.com allows transactions in more than 150 currencies covering more than 45 countries. The platform offers several benefits to merchants, including anti-fraud tools, data analysis, flexible payment methods, and hassle-free high-volume transactions. This is one of the reasons why Checkout.com is mostly preferred by merchants with higher monthly income and high volumes of transactions. 

Pricing

Prices are revealed upon registration. 

Pros

  • Secure and fast payments
  • Transactions can be made with more than 150 currencies
  • Fraud tools and filters provide advanced security
  • Easily copes with high-volume transactions

Cons

  • Suitable for merchants with higher monthly revenue
  • Lack of transparency in pricing 

Developer Help Links

Checkout.com API 

Ayden

One of the best payment gateway in UK, Ayden offers unified payment solutions to its customers. From payment transfers to organization tools, Ayden provides its users with several customisation and payment options. By accepting different payment modes and currencies, Ayden helps businesses gain global reach and enjoy secure payment facilities. 

Through its unified payment solutions, Ayden allows users to make payments through different modes, including mobile payments and in-store and online payments. Ayden is trusted by globally recognized companies, such as Spotify, Netflix, and Uber, for its wide range of payment methods, subscription billing models, data insights, and risk management tools. 

Pricing

For each transaction, Ayden is determined by payment method. 

Pros

  • Easy to use
  • Swift payments
  • Global outreach and multiple currency transactions
  • Multiple payment methods

Cons

  • Not ideal for low-volume merchants
  • Complex pricing structure

Developer Help Links

Ayden Developer

Revolut

A secure and fast payment gateway, Revolut is an ideal choice for businesses that want to receive payments directly from their websites. Revolut allows you to send and receive payments in up to 22 currencies and quickly access your fund with a next-day settlement facility. Revolut is renowned among low-value and large-scale merchants for its quick access to payments, which means your earnings are accessible within 24 hours. 

Some other reasons why Revolut has the heart of merchants are that it offers great flexibility in payment methods, allows you to accept payments like a local, and enables businesses to collect payments directly from their customers. These payments get transferred directly to Revolut's business account. Revolut also allows you to customise your checkout experience. 

Pricing

Revolut has different pricing plans for its users. The charges begin from £3.99/month.

Pros

  • Fee-free card spending
  • Low-cost solutions
  • Access to a standard account with no subscription fee
  • Customisable checkout experience
  • Overseas bank transfers with low charges
  • Quick customer service

Cons

  • Limited foreign currency transactions
  • The interface lacks intuitive designs 

Developer Help Links

Revolut Business API

Revolut Merchant API

GoCardless

Among the names of the best payment gateway UK providers, GoCardless offers easy and quick payment solutions. It allows customers to pay merchants instantly directly from their bank accounts. GoCardless is for businesses of all sizes and follows a user-friendly interface that makes sending and receiving payments easier than a manual bank transfer.

GoCardless allows you to send and receive payments in more than 30 currencies. It has different price plans for users, and the standard plan requires minimum commitment and zero monthly fees. GoCardless boasts more than 350 integration partners, such as Quickbooks, Xero, and Salesforce. Businesses must be aware of some per-transaction limits imposed by GoCardless. 

Pricing

  • For domestic transactions, GoCardless charges 1% + $0.25 up to a maximum fee of $2.50. 
  • For international transactions, the charges are 2% +$0.25. 
  • GoCardless also charges an additional fee of 0.3% if the transaction amount exceeds $1,000. 

Pros

  • Simplest interface
  • Instant direct debit payments
  • Ideal for businesses of all sizes
  • Cheaper transaction charges

Cons

  • Poor mobile app display
  • Limited foreign currency transactions

Developer Help Links

GoCardless Developers 

GoCardless API Reference 

Braintree

One of the most widely used payment gateways in the UK, Braintree is counted among the top list of best payment getway in UK that offer quick and easy payment solutions. Braintree allows businesses to accept payments directly from their customers on their websites and applications. It makes e-commerce payments hassle-free and offers numerous payment options to its users through any device of their choice. 

Braintree allows you to make transactions through 130+ currencies and has merchants operating from more than 45 countries. The leading payment gateway provider, PayPal, acquired Braintree in 2013. Since then, users have also been able to make payments or accept funds through PayPal and PayPal credit, along with other modes like debit and credit cards, digital wallets, and many more. 

Pricing

  • Users have to pay 2.59% + $.49 per transaction when making payments through digital wallets and cards. 
  • Charges of 0.75% per transaction are applicable if payments are made through ACH Direct Debit. 

Pros

  • Easy payment methods
  • 24/7 customer support 
  • Secure payments
  • Transparent pricing

Cons

  • Higher transaction fees

Developer Help Links

Braintree Developer

Authorize.net

Did you know Authorize.net is among the oldest names in the list of payment gateway providers? Even to this date, this platform remains a reliable source of making secure payments. If you are seeking the best payment gateway UK provider for small businesses, Authorize.net is your one-stop solution. 

Authorize.net offers a payment gateway that makes accepting online payments, e-cheques, and other forms of payments from mobiles and websites easier for smaller businesses. The platform provides fraud protection, which makes every transaction secure and authorized. From smaller transactions to high-volume overseas payments, the platform offers advanced fraud detection services to make your experience remarkable. 

Pricing

  • Monthly gateway charges are $25
  • Processing rates per transaction begin from 2.9% + 30¢
  • Zero monthly setup fee
  • Quick customer support

Pros

  • Payment solutions for businesses of all sizes
  • Extremely secure transactions
  • Transparent pricing

Cons

  • The mobile interface needs to improve

Developer Help Links

Authorize.net Support Centre

Authorize.net API Reference 

Trust Payments 

As the name suggests, Trust Payments is your key to making trusted payments internationally. With multiple support tools and payment solutions for e-commerce, Trust Payments offers you the simplest payment options that work on all types of devices. Trust Payments partners with several world-renowned companies; therefore, the transactions are super secure, convenient, and simple to make.

Pricing

Details on pricing are available after registration. 

Pros

  • Easiest and quickest payments
  • Transactions with 180 currencies
  • Extremely secure
  • Multiple payment modes

Cons

  • Less customer reviews
  • No information on pricing is available

Developer Help Links

Trust Payments API

Conclusion

As a business, your utmost priority must be selecting a payment gateway provider that offers you all the facilities needed to facilitate day-to-day online transactions without hassles. The right payment gateway will provide advanced security and help boost your customers' satisfaction and their trust in your business. In this way, you can be assured of creating a long-term impact through your business globally and never come across fraudulent activities when sending or receiving payments from global clients. 

Sources:

https://razorpay.com/blog/payment-gateway-101/ 

https://www.checkout.com/blog/choosing-an-end-to-end-payments-solution 

https://meetanshi.com/blog/best-payment-gateways-in-uk/ 

https://www.investopedia.com/terms/p/payment-gateway.asp 

https://www.merchantsavvy.co.uk/payment-gateways/ 

https://websitebuilder.org/blog/how-many-people-use-paypal 

https://www.statista.com/topics/8946/payments-in-the-uk/#topicOverview 

https://razorpay.com/blog/how-to-choose-a-payment-gateway/ 

https://www.zoho.com/books/articles/how-to-choose-the-right-payment-gateway.html 

https://www.linkedin.com/pulse/5-factors-consider-when-choosing-right-payment-gateway-your/ 

https://payu.in/blog/9-key-considerations-before-choosing-a-payment-gateway/ 

https://stripe.com/in/resources/more/five-key-benefits-of-payment-gateways-for-businesses 

https://www.nerdwallet.com/reviews/small-business/worldpay 

https://www.braintreepayments.com/braintree-pricing 

https://www.linkedin.com/pulse/empowering-global-commerce-unveiling-benefits-features-adyens-cy9me/?trk=public_post 

https://wise.com/us/blog/adyen-payment-processing 

https://tipalti.com/alternatives-hub/braintree-vs-paypal/ 

https://www.braintreepayments.com/about-braintree#:~:text=We%20provide%20the%20global%20commerce,through%20almost%20any 

https://www.authorize.net/sign-up/pricing.html 

https://thepaymentsassociation.org/directory/trust-payments 

Read More

https://scribblersden.com/article/payment-gateway-providers-in-the-usa

Follow us on

https://www.linkedin.com/company/scribblers-den

https://www.facebook.com/scribblersden.blogs

Table of Contents

    Leave a reply

    Subscribe to Us

    Always Get Notified