The UK is home to a highly developed eCommerce market, making efficient and secure payment gateways essential for businesses across various industries. As the demand for online shopping and digital payments continues to soar, selecting the right payment gateway can be a game-changer. In this guide, we’ll explore the top payment gateways in the UK for 2024, focusing on their features, pricing, security, and customer service, helping businesses make informed decisions.
Stripe is one of the most popular payment gateways globally, and its presence in the UK market is strong. Known for its developer-friendly tools and transparent pricing, Stripe offers businesses the flexibility to build custom payment solutions.
- Features:
- Supports credit/debit cards, Apple Pay, Google Pay, and various local payment methods like Klarna and iDEAL.
- Offers extensive API integration and supports subscription services.
- Fraud protection tools through its machine-learning platform, Radar.
- Pricing:
- Stripe charges 1.4% + 20p for European cards and 2.9% + 20p for non-European cards per transaction.
- No setup fees or monthly costs.
- Why Stripe?
- Perfect for businesses with technical teams seeking customizable payment solutions.
- Its global reach makes it ideal for UK-based businesses aiming for international expansion.
PayPal is one of the most recognized and trusted names in online payments. It allows businesses to accept payments from over 200 countries, with an established reputation for security and reliability.
- Features:
- Supports multiple payment methods, including cards, PayPal balance, and PayPal Credit.
- Simple integration with popular eCommerce platforms like Shopify, WooCommerce, and Magento.
- Offers buyer and seller protection, reducing chargeback risks.
- Pricing:
- For UK transactions: 2.9% + £0.30 per transaction.
- International transactions: 4.4% + fixed fee based on the currency.
- Why PayPal?
- It’s a trusted option for businesses wanting to provide a frictionless, familiar payment experience.
- Its “PayPal Here” feature also enables in-person payments, which is ideal for omnichannel businesses.
Worldpay, owned by FIS, is one of the largest and most experienced payment processors in the UK. It caters to both online and offline businesses, offering a wide range of payment services.
- Features:
- Supports all major credit and debit cards, digital wallets (e.g., Apple Pay), and international payment methods.
- Recurring billing and subscription management tools.
- Multi-currency support, making it suitable for international transactions.
- Pricing:
- Worldpay offers custom pricing based on the business type and volume.
- Typically, fees range from 2.75% + £0.20 for online payments.
- Why Worldpay?
- Best for businesses that require a robust, scalable payment gateway with omnichannel capabilities.
- It offers strong fraud detection tools and in-depth analytics for tracking transactions.
Square, initially popular for its mobile point-of-sale (POS) systems, has expanded into online payments, offering UK businesses a simple yet effective payment gateway solution.
- Features:
- Supports payments via debit/credit cards, Apple Pay, Google Pay, and more.
- Easy integration with websites built on platforms like Wix and WooCommerce.
- Offers tools like invoicing, virtual terminal, and a dashboard to manage sales.
- Pricing:
- 1.75% per transaction for chip & PIN, contactless, and mobile payments.
- 2.5% for online and manual card entries.
- Why Square?
- Ideal for small businesses looking for an affordable, user-friendly payment gateway.
- Its combined offline and online payment solutions are perfect for retailers.
- Sage Pay (Opayo)
Sage Pay, now rebranded as Opayo, is another top player in the UK payment gateway market, known for providing highly secure and customizable payment solutions.
- Features:
- Accepts a variety of payment methods including credit/debit cards, PayPal, and phone payments.
- Offers Level 1 PCI DSS compliance and 3D secure protection.
- Advanced fraud prevention tools and reporting.
- Pricing:
- £25 per month for businesses processing up to 350 transactions.
- Custom pricing for larger businesses.
- Why Opayo?
- Best for businesses prioritizing security and fraud prevention.
- Offers seamless integration with accounting software like Sage 50, making it a great choice for businesses already using Sage products.
- Amazon Pay
Amazon Pay allows businesses to leverage the trust and simplicity of Amazon’s payment system. It’s especially effective for eCommerce businesses targeting Amazon’s vast user base.
- Features:
- Fast checkout process using customers’ existing Amazon accounts.
- Accepts all major debit/credit cards.
- Offers fraud protection backed by Amazon’s security infrastructure.
- Pricing:
- UK-based transactions: 2.7% + £0.30 per transaction.
- Cross-border transactions: 3.9% + £0.30 per transaction.
- Why Amazon Pay?
- Ideal for eCommerce businesses looking to boost conversion rates by offering a familiar payment method to millions of Amazon users.
- Barclaycard
Barclaycard is one of the oldest and most trusted payment solutions in the UK. It offers a wide range of payment services suitable for businesses of all sizes.
- Features:
- Accepts a variety of payment methods including cards, PayPal, and mobile wallets.
- Provides payment solutions for both online and offline channels.
- Strong fraud prevention tools and chargeback protection.
- Pricing:
- Custom pricing based on the business size and payment volume.
- Why Barclaycard?
- Best for businesses seeking a reliable and established payment gateway.
- Its integration with accounting and ERP software makes it ideal for large enterprises.
Adyen is a global payment company known for its versatility, catering to a wide range of industries from retail to hospitality. Adyen is popular among large enterprises due to its advanced technology and global reach.
- Features:
- Supports over 250 payment methods including local methods like Sofort, iDEAL, and Bancontact.
- Offers a single platform for online, in-app, and in-store payments.
- Real-time reporting and data analytics.
- Pricing:
- Adyen offers transparent pricing: 1.5% + £0.10 per transaction for Visa and Mastercard.
- Fees vary based on payment method and region.
- Why Adyen?
- Best suited for large enterprises looking for an all-in-one solution for omnichannel payments and international expansion.
Checkout.com is a fast-growing UK-based payment processor that is making waves with its modern, developer-friendly platform.
- Features:
- Supports over 150 currencies and a wide range of payment methods.
- Advanced API for customized payment experiences.
- Strong security features including 3D Secure and PCI DSS compliance.
- Pricing:
- Custom pricing depending on the business size and volume.
- Why Checkout.com?
- Ideal for growing businesses that need a scalable, developer-friendly solution.
- Strong focus on international payments and cross-border transactions.
- GoCardless
GoCardless is a UK-based company specializing in recurring payments via Direct Debit. It’s an excellent choice for businesses with subscription models.
- Features:
- Specializes in Direct Debit payments, offering seamless recurring billing.
- Integration with popular accounting software like Xero and QuickBooks.
- Offers low fees and transparent pricing.
- Pricing:
- 1% per transaction with a cap of £4.
- No setup or monthly fees.
- Why GoCardless?
- Perfect for subscription-based businesses or those requiring recurring billing.
- Its low fees and ease of use make it an attractive option for SMEs.
Conclusion: Choosing the Right Payment Gateway for Your UK Business
The best payment gateway for your business depends on several factors such as transaction volume, payment methods, security needs, and global reach. While Stripe and PayPal are excellent for eCommerce platforms, GoCardless and Sage Pay (Opayo) stand out for recurring payments and security features. Worldpay and Barclaycard are ideal for enterprises with high transaction volumes and offline needs. Consider your business model, growth plans, and the types of payments you’ll be processing to choose the right payment gateway in 2024.