Worldpay for Credit Card Payment Processing
Worldpay offers credit card processing services in 40 different countries across the globe. Since Worldpay’s merger with Vantiv in 2017, their global presence has grown to include businesses of all sizes with the Vantiv side catering better to small business and Worldpay working better for larger corporations.
Considering their broad reach across the world, we’ll be reviewing Worldpay as it pertains to US merchants. This includes merchants operating from within the US, selling to a US customer base, and US business owners selling to a global market as well.
It should also be noted that for small to medium-sized businesses, the Worldpay website redirects these customers to Vantiv.
Verisave customers achieve an average savings of 25%-35% in overall credit card processing fees with an audit from Verisave. If you are interested in working with Worldpay, restructuring with Worldpay, or just looking to save on merchant costs, then speak with a Verisave merchant service expert.
Merchant Credit Card Processing Products & Services
While companies of this size have leaned toward developing a large set of business management tools to help with data reporting, inventory management, and much more, Worldpay primarily focuses on payment processing. They offer the following merchant tools:
WORLDPAY PAYMENT PROCESSING SERVICES: When establishing your account with Worldpay for payment processing, you’ll be set up with a POS system, necessary software, data security, reporting tools, and a payment gateway.
WORLDPAY POS TERMINALS: Worldpay offers proprietary POS systems as well as options for using a variety of third-party POS systems that integrate with their software. With Worldpay, you have the option of using virtual terminals (eliminating the need for a POS station), mobile terminals (phones and tablets), or standard POS systems. The Worldpay website advertises:
Integrated POS – processing technology built into the POS system
Terminals – another way to enjoy Vantiv service and support
Virtual terminal – when you are away from your store
Ecommerce – easy, online transactions to extend your reach
Mobile payments – accept mobile payments and capture more sales
Choose from the following POS terminals:
- Verifone Vx520
- Ingenico iCT220
Ingenico iCT250
WORLDPAY MERCHANT ACCOUNTS: Combine your merchant account provider with your payment processor with Worldpay. Benefits to this include the ability to make one phone call for payment disputes instead of multiple phone calls.
WORLDPAY ENTERPRISE SPECIFIC PROCESSING PLANS: Worldpay has developed specific processing solutions for niche-specific enterprises. These plans involve combinations of multiple business tools paired with credit card payment processing and more. POS systems, gift cards, loyalty programs, payment processing, analytics and more come in these customized plans and will vary based on the specific needs of your industry.
Airlines
Grocery and Drug Stores
Restaurant Chains
Education
Nonprofit
Retail
Fuel and Convenience Stores
Public Sector
Travel
Online Subscriptions
eCommerce Marketplaces
Social and Dating Websites
Software Sales and Services
Video Game Development and Sales
WORLDPAY OMNI-CHANNEL PAYMENT ACCEPTANCE: Merchants using Worldpay services can accept payments using any of these available methods:
In-store
Online
Offsite
EMV
Apple Pay
Samsung Pay
Android Pay
Credit and Debit cards
Gift cards
eChecks
eCommerce shopping carts
Traditional POS systems
Virtual terminals
Mobile POS
WORLDPAY ONLINE DATA REPORTING SOLUTION: Compile reports to better understand clear data sets for credit card processing information (reconciliation, interchange management, fees, fraud, exception handling, etc).
WORLDPAY eCOMMERCE SOLUTION: On your eCommerce site, you can accept any form of payment. Track customer purchasing habits to improve your sales. The eCommerce solution from Worldpay also caters to fraud protection with proprietary encryption and tokenization.
WORLDPAY DATA SECURITY: By providing POS systems that accept EMV (chip card) card readers, you’re adding an extra measure of security to your customers’ purchases as well as your sales. Allowing customers to use an EMV card in your store helps to protect you from counterfeit cards. Worldpay’s in-flight data encryption and tokenization make their data more secure as it moves from entity to entity, deterring hackers with unreadable information.
Other Business Management Solutions Offered by Worldpay:
- Loyalty programs and gift cards
- Optimization
ATM services
We can apply our proven savings strategies to your Worldpay merchant account to lower your overall fees. Working with Verisave is all the customization you will need for managing your merchant accounts with Worldpay. If Worldpay is not the best option for your business, we will tell you who is. Give us a call before making long-term commitments to any credit card payment processor.
Worldpay POS System Integration
Worldpay offers a basic array of payment processing tools for merchants. These systems are easy to integrate into a current system, or if you’re starting from the ground up, they’re even easier to get started with. They offer traditional POS systems that most business owners and customers are already familiar with so the learning curve is low with Worldpay’s hardware and software.
If you currently have your own POS system that you would like to continue using, check to see if Worldpay’s software is compatible with your system.
How Much Will You Be Paying For Worldpay Credit Card Processing?
Worldpay contracts include long terms (3 years), high cancelation fees, an auto-renewing clause, and monthly compliance fees. These are significant factors to consider when comparing Worldpay to other processing companies. An early termination fee for Worldpay can range from $95 to $495 depending on your circumstances. Their PCI compliance fees are also higher than the industry average ranging from $15 to $25 each month. Other miscellaneous fees reported by disgruntled customers include an annual $69 fee for tax reporting and unexpected monthly account service fees.
Regardless of what you read online, each merchant will have a slightly different experience. Speaking directly with a sales rep is the first step to take when considering Worldpay services. They will ask you a series of questions to create a quote. Variables considered include:
Average monthly processing volumes
Business industry
Primary mode of payment acceptance
Customizable plan options
While Worldpay offers little information on their website concerning pricing, they do advertise the following rates as a starting point:
