In today’s increasingly digital world, the role of electronic payment processing has never been more critical for businesses. With a plethora of providers to choose from, it can be challenging to identify the ideal solution that meets all your specific needs. For UK companies, two prominent options often come up for consideration: Worldpay vs Paymentsense.
This article aims to offer an in-depth comparison of these two leading payment processors, helping you make an informed decision.
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Worldpay vs Paymentsense
| Worldpay | Paymentsense | |
|---|---|---|
| Pricing Model | Pay-as-you-go, fixed monthly, and custom pricing | Custom pricing based on specific needs and transaction volume |
| Face-to-Face Transaction Fee | 2.75% + 20p per transaction | Varies, but generally starts at 0.35% for debit cards and 0.75% for credit cards |
| Online Transaction Fee | 2.9% + 30p per transaction | Varies, but generally comparable to face-to-face fees |
| Monthly Fees | Depending on the plan chosen, may apply | Capped monthly option available for a fixed number of transactions |
| Contract Length | 12 to 36 months, depending on the plan | 18 months as standard, but can vary |
| Early Termination Fee | Yes, depending on the plan and contract length | Yes, the remaining contract balance is typically due |
| Payment Methods Supported | Online, in-person, and over the phone, integrations with over 300 shopping carts | Online, in-person, over the phone, integrations with major e-commerce platforms |
| Card Machines Offered | Countertop, portable, and mobile | Countertop, portable, mobile, and Wi-Fi enabled |
| Customer Support | 24/7 phone and email support | 24/7 phone, email, and live chat support |
| EPOS Integration | Yes, with selected systems | Yes, through their Connect service |
| Reporting & Analytics | Yes, via an online dashboard | Yes, via an online portal |
Please note that as the pricing models of both Worldpay and Paymentsense can be quite complex and customised to specific business needs, the transaction fees provided above should only be used as a general guide. It’s important to contact each provider directly for a detailed and personalised quote.
A brief overview of the contenders
Worldpay
A titan in the payment processing industry, Worldpay offers a wide array of payment solutions suitable for businesses of all sizes and across various industries. Initially established in the UK, Worldpay has since expanded its operations globally. Following a merger with FIS in 2019, it now delivers comprehensive end-to-end payment services to over a million companies worldwide.
Paymentsense
Paymentsense is a UK-based payment service provider that caters primarily to small and medium-sized enterprises (SMEs). Since its launch in 2010, Paymentsense has grown significantly, boasting a customer base of over 70,000 businesses across Europe. The company’s promise to SMEs is the delivery of affordable, fast, and flexible payment solutions.
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Cost comparison – Keeping an eye on the bottom line
When comparing Worldpay and Paymentsense, cost plays a pivotal role. Let’s examine how they stack up.
Worldpay
Worldpay offers a variety of pricing plans, including pay-as-you-go, fixed monthly, and custom pricing for larger enterprises. For small businesses, the pay-as-you-go plan has a transaction fee of 2.75% + 20p for face-to-face transactions and 2.9% + 30p for online transactions.
Paymentsense
Paymentsense utilises a custom pricing model where the rates are dependent on the company’s specific needs and the volume of transactions. However, as a general guide, card transactions start at 0.35% for debit cards and 0.75% for credit cards. They also offer a capped monthly option which allows businesses to process a certain number of transactions for a fixed fee.
While both providers offer competitive rates, Paymentsense tends to edge out slightly due to its focus on delivering affordable solutions to SMEs.
Product offerings – A world of possibilities
Now let’s explore the range of solutions that Worldpay and Paymentsense provide.
Worldpay
Worldpay’s solutions encompass online, in-person, and phone payments, plus integrations with over 300 shopping carts for e-commerce businesses. They offer a variety of terminal options for in-person transactions, including countertop, portable, and mobile card machines. Additionally, their robust online dashboard provides real-time insights, aiding in business decision-making.
Paymentsense
Paymentsense offers a comparable range of services, including online, in-store, over the phone payments, and integration with major e-commerce platforms. They provide card machines that are portable, mobile, and Wi-Fi enabled. Notably, Paymentsense offers a Connect service that integrates card machines with the company’s existing electronic point of sale (EPOS) system, streamlining the payment process.
When it comes to the breadth of services, both providers are relatively on par, offering comprehensive and robust payment solutions.
Customer support – When you need a helping hand
Reliable customer support is paramount for any business relying on electronic transactions. Both Worldpay and Paymentsense offer 24/7 customer service, but their quality varies.
Worldpay
Worldpay provides round-the-clock phone and email support. However, some customers have reported long waiting times and subpar service levels, which could be a crucial consideration.
Paymentsense
Paymentsense also offers 24/7 phone and email support, with an additional live chat option. Their customer service is generally well-regarded, with many clients praising the company’s rapid response and resolution times.
Given the importance of reliable support, Paymentsense takes the upper hand in this area.
Conclusion – Worldpay vs Paymentsense
Choosing between Worldpay and Paymentsense is dependent on your business’s specific needs.
Worldpay, with its global presence and comprehensive offerings, could be a preferred choice for larger organisations with a wider geographical footprint.
Paymentsense, with its SME focus, competitive pricing, and reliable customer support, may be more suitable for smaller businesses with a predominantly UK or European customer base.
In any case, it is advisable to closely evaluate your business needs, customer base, and transaction volume, and consider these alongside the costs and service levels of each provider. By doing so, you can ensure that you choose a payment processing provider that best aligns with your business strategy and operational requirements.
FAQ
Both Worldpay and Paymentsense cater to a wide array of businesses, from small to large, across numerous industries. They support both physical and online stores, making them suitable for most business types.
Worldpay charges 2.75% + 20p per face-to-face transaction and 2.9% + 30p per online transaction. Paymentsense uses a custom pricing model, with fees typically starting from 0.35% for debit cards and 0.75% for credit cards.
While both provide 24/7 customer support, Paymentsense tends to be favoured due to its additional live chat option and generally quicker response times.
Worldpay contracts can range from 12 to 36 months, while Paymentsense generally offers 18-month contracts.
Yes, both providers do, but early termination often involves a fee, which usually includes the remaining balance of the contract.
Both Worldpay and Paymentsense offer robust online payment gateways, which can integrate with hundreds of shopping carts and enable secure online transactions.
Both offer flexible pricing options, but Paymentsense may edge out with its custom pricing model tailored to the specific needs and transaction volume of each business.
Yes, both Worldpay and Paymentsense offer mobile card readers, allowing businesses to take payments on the go.
Yes, both providers offer online dashboards where businesses can monitor transactions and gain insights in real time.
Both providers offer assistance to ensure a smooth set-up process, but the time frame and complexity can depend on the specific needs and systems of each business.
Yes, both providers have robust security measures in place, including fraud screening tools, to protect businesses and their customers.
Both offer strong e-commerce capabilities, including integrations with popular shopping carts. The best choice would depend on your specific needs and the pricing offered.
Yes, both providers can handle international payments, but the fees and exchange rates may vary.
Yes, both Worldpay and Paymentsense offer integrations with various point-of-sale systems to streamline your payment process.
Yes, both providers offer options for setting up recurring payments, making them suitable for subscription-based businesses.
The settlement times can vary, but typically, both providers aim to settle transactions within 1-3 business days.
It depends on the specific needs of your business. Paymentsense often works out cheaper for smaller businesses, while Worldpay’s global presence and scale might offer better value for larger corporations.
Both providers offer card machines, which can be rented. The specific hardware needed will depend on your business’s operations.
Both Worldpay and Paymentsense have a number of partnerships with various technology and software providers to enhance their service offerings.
Both providers aim to offer high reliability and uptime. It’s worth checking out recent customer reviews and feedback for any reported issues.