Worldpay, Elavon, Square, iZettle, Barclaycard - what's the difference between payment processors?
ฝัง
- เผยแพร่เมื่อ 20 ม.ค. 2020
- In this video, we describe the difference between payment facilitators like Square, Sum Up, and PayPal Here - and traditional processors, such as Worldpay, Barclaycard, First Data, & Elavon.
(Elsewhere, traditional payment processors are sometimes called acquirers or merchant accounts - we've standardised this as "traditional processors" here to keep jargon to a minimum.)
We also about the different kinds of rates that these offer - blended, interchange + +, and flat percentage style rate rates, and the way that factors which relate to your shop or restaurant can affect which works out the cheapest from your perspective. We also cover a little bit around how payment facilitators ("payfacs") came about in the first place.
Our bread and butter is acting as a marketplace for the full POS stack, including payments. If you need to integrate your payments and your POS, that's where we recommend you start - and come to payments second. Get the right hardware with your POS and payment providers (commandear.com/)
Increase your sales and cut your costs with storekit! (www.storekit.com/form/demo)
Creative Credits
Stock video - sourced from Pexels.com, artist is Ruvim Miksanskiy
Music - Flavour by Wataboi, sourced from the Audio Library music channel
Design & Production by Adam Stead - วิทยาศาสตร์และเทคโนโลยี
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Thank you so much for putting this together!
This is so helpful thank you
Helpful!
Thanks for the information
listen my main question is if i was to buy an in game currency using world pay is it safe, i ask this because i saw there was a commission fee which i am assuming is for businesses but i could be wrong. please answer if you can. cause i would be using my mastercard and i dont want to lose all my money on my master card.
I have no phone line or internet at my business, and my phone is limited to data per month from my supplier. Will I be able to use this device, or do I need to change my phone contract? I've seen people use ipads with izettle, & I don't understand how that connects unless there are on their pre-paid wifi?
Hi Justin!
Yes - you can use the data on your phone to run payment facilitator card readers :)
Payment processing can be done by a data connection or a WiFi connection.
Here's some of the options:
1) You can run the POS app out of your phone, and use the data from the SIM on your phone.
2) You can run the POS app out of your iPad. Some iPads support a SIM card, such as this one: storekit.com/tablets/apple-ipad-9-7-4g/. You could insert a SIM and take out contract with a network company like you would for a phone.
3) The Sum Up 3G reader comes with an installed 3G connection. This doesn't have a POS app in a phone or iPad like the others, it's only really for typing in amounts and taking payments. But this works totally standalone and you don't have to sort out any SIM or WiFi: storekit.com/credit-card-machines/sumup-3g-card-reader/
4) You can connect the controlling device to any local WiFi network and run the processing over that.
If you want to chat further, we're available on 020 3874 1470 :)
- Adam
in how many days is the payment available for withdrawal on worldpay?
How long does a transaction?
How do I go about getting a payment method on my website and having it coincide with my business account?
Hi Jermaine! If you're in the UK, you can chat to a payments expert with this form: storekit.com/payments/quote/
You're looking for a merchant account and a payment gateway (which may or may not be bundled with the merchant account), but what's available depends on things like your ecommerce software provider. Talk to us above and we can get you sorted!
This guide might help: storekit.com/payments/guide/ecommerce