Gateway fee is applied by the transaction processor to cover the costs
of receiving and processing the transaction. [Close]
cards charge a percentage of the sale for use and this amount is referred to
as a transaction charge. [Close]
of a percentage rate, a Debit card transaction is charged at a flat rate
chargeback is a reversal of a sales transaction by the customer's credit
card issuer. For more information on chargebacks please
rolling reserve holds five percent (5%) of total
approved gross transactions, over the previous six month period. Following the
seventh month of operation (and every month thereafter) the reserves generated
from the first month of operation (and every month thereafter) will be forwarded
to the merchant of each sale for a specified period, after which time it is
paid to you.
The purpose of the reserve is to pay for any chargebacks which may occur against
your account [Close]
percentage of each sale is payable as a transaction fee [Close]
is the country that the merchant has to be incorporated in, NOT the country
they can sell too. The merchant can sell to any country they wish! [Close]
of charging a fixed transaction fee of say 50p for debit card transactions,
we charge 3.99%. This means all cards are charged identically. [Close]
base currencies (UK Pound, Euro, and US Dollar) are available for FREE. Up to
12 additional currencies are available at a charge of £20 per currency
per month. [Close]
list does not constitute any recommendation by Web Merchant Services, nor is
this list definitive. For further information please refer direct to the vendor.
When searching shopping carts integrated with the Merchant Account + Gateway you may need
to see if they support FirePay. FirePay is essentially a legacy name - former
brand names of Optimal Payments [Close]
do not set a minimum or maximum order value. You can take orders in a single
transaction from £0.01 upwards.
Please note however that items and services with a very high order value can
be deemed high-risk and therefore may be given different terms to advertised.
For this reason, when asked on the application what monthly turnover you expect,
please do not exaggerate as this can hinder the application, if not reject it.
(money paid to you) are made weekly, 28 days in arrears and a fee of £0.35
is charged [Close]
Remittance Amount is the minimum limit before a Wire transfer is made.
takes payment details over website or telephone. Completes authorisation request.
Receives authorisation code. This authorises card & reserves funds but doesn't
The merchant then checks eligibility of customer or order. If OK does settlement
transaction. Authorisation code from before is then used to take money or abandon
order. This can be done manually through the CMS, via an API or as a combination
of API/manual [Close]
listed? How about our Optimal or High-Risk Merchant Account + Gateway? [Close]
(money paid to you) are made by weekly Wire and a fee of £15 is charged
per Wire. To soften the blow, we can extend the interval between payments if
you would like to reduce costs, for instance, we could remit every 2 weeks,
so that would mean £30 rather than £60 or even once a month which
would reduce the cost to £15. [Close]
Available to UK banks (Acquirers)
only. You must have a MID already set-up.
If you already have a merchant facility set-up with your
bank and are taking credit cards through your high-street
shop (using a terminal for example), but want to start taking
payments online, our Gateway Only account simply ties into
your existing relationship.
businesses start off on the high-street or as mail order companies,
and to accept credit and debit cards they must have a merchant facility
with a bank (this is what we call being bank acquired). When the
time comes that you want to accept cards online
you must either have an online merchant account set-up, or connect
your current merchant facility with us. We then simply provide the
Accept major credit and debit cards
Shopping cart integration
Management and reporting systems
Mail and telephone order payments
Add PayPal as an extra payment method
How it works
Every time someone makes an online purchase you are charged a
standard transaction fee (from your bank where you have the merchant
account) and an online transaction fee (from us). The two are
bolted together to make the total amount charged.
For example you may have agreed an off-line fee with your bank
of 1.5% per transaction. We then charge 28p per transaction, or
a percentage charge based on volumes processed, after the first
350 transactions per month which are FREE
This is the same as your current arrangement. For our normal
merchant accounts we would have a settlement period of either
5 days with a 5% rolling reserve, or 28 days with no reserve.
However because your bank is taking all the risk, the settlement
period is the same as your current arrangement.
What else should I know
You may need to contact your bank to ask them to switch on the
ability to allow online payments. This should not cost anything
extra and should be easy enough. However knowing banks, you may
want to check with them first!
When you were set-up with your bank to accept credit and debit
cards you would have been supplied with a merchant ID number.
When you apply with us you will need to supply you merchant number
during the application.
This can be done with any bank. However your business of incorporation
and bank account must be in the same country. This is due to strict
money laundering rules.
Pricing and costs
For full pricing and costs please
click here. Remember that these are on top of what your bank
If you are not bank acquired and
require one of our full merchant accounts then please