In the digital era where cash transactions are becoming increasingly infrequent, it’s vital for businesses, small or large, to select the right payment processor. This not only ensures seamless transactions but can also affect the business’s growth trajectory. Today, we’ll delve into a comparison of two such services: Handepay vs Worldpay, both prominent in the UK market.
Our objective is to provide businesses with an in-depth understanding of these providers, aiding in their selection process.
Handepay vs Worldpay
|Features / Fees
|From £19.99 per month
|From £19.95 per month, can vary based on the plan
|From 0.3%, varies based on volume
|From 0.75% for credit cards, 0.2% for debit cards, can vary based on the plan
|PCI Compliance Fees
|Minimum 12 months
|18 months to 36 months
|Early Termination Fees
|Yes, can vary
|Yes, can vary
|Card Machine Rental
|Included in the monthly fee
|Starts from £15.99 per month
|24/7, not always UK-based
|Global Payment Acceptance
Remember, these are estimated figures and the actual costs may vary. Always speak to the payment processor directly for a custom quote tailored to your business. It’s also worth noting that while cost is a significant factor, also consider factors like customer service, technological capabilities, and security measures in your decision.
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Understanding payment processing
Before we proceed, it’s crucial to grasp what a payment processor does. They act as a bridge between merchants, banks, and card networks, facilitating the acceptance of card payments by transferring information and funds between these parties. The chosen payment processor plays a crucial role in the speed, security, and reliability of your transactions.
Handepay – An overview
Handepay, established in 2006, has been a rising star in the UK’s payment processing industry. It offers a range of services tailored to small to medium-sized businesses, from in-store card machines to online payment gateways, mobile payment solutions, and integrated payments for seamless transactions between your point-of-sale (POS) system and the card machine.
Worldpay – An overview
Worldpay, on the other hand, is an international giant in the payment processing industry, having been around since 1989. It caters to businesses of all sizes, from SMEs to multinational corporations. Worldpay offers a similar range of services as Handepay but extends further with multi-currency processing and a broad spectrum of card brand acceptance, including but not limited to Visa, Mastercard, American Express, and China Union Pay.
Cost comparison – Upfront and hidden charges
One of the major considerations when choosing a payment processing service is the cost involved. In this area, Handepay promotes a price promise, pledging to save businesses money on card processing fees, or it will give £1,000 to the customer. Handepay also assures transparent pricing with no hidden fees. However, the exact cost can vary based on your business’s individual needs and transaction volumes.
Worldpay’s pricing model can be more complex due to its wider range of services. There are different pricing plans available, such as ‘pay as you go’, ‘fixed monthly’, and ‘standard’. While Worldpay’s size and scale can often mean lower processing fees, its structure may include various other charges like setup fees, PCI compliance fees, and more.
Service and support
Excellent customer service and support are essential attributes of any service provider. Handepay excels in this area, with its UK-based customer service and support team available 24/7. They also provide a dedicated switching team to make the transition from another provider as seamless as possible.
Worldpay also offers 24/7 customer support, but given its international operations, you may not always be dealing with a UK-based team. Nevertheless, its global presence allows it to provide comprehensive support in a broad range of issues.
Technological capabilities and integration
In the realm of technological capabilities and integration, Worldpay has an edge due to its larger scale and global presence. They offer integrations with a wide variety of POS systems, shopping carts, and business software. Their online payment gateway also supports a range of languages and currencies, an essential factor for businesses serving international customers.
Handepay also offers impressive technological capabilities, such as the Handepay Spire system, which integrates card payments with your EPOS system. However, its services might be more limited when it comes to multi-currency support and global payment acceptance.
Both Handepay and Worldpay comply with the Payment Card Industry Data Security Standard (PCI DSS), offering secure card payment processing. Worldpay has additional security features, like fraud screening tools, due to its global operation scale.
Conclusion – Handepay vs Worldpay
Choosing between Handepay vs Worldpay depends on your business’s specific needs.
Handepay may be a more cost-effective and personalised service for SMEs operating primarily in the UK. In contrast, Worldpay offers extensive global operations, multi-currency support, and may provide more comprehensive solutions for larger businesses or those serving international customers.
It’s advisable to clearly understand your business needs, carefully review the cost structure of each provider, and consider their customer support, integration capabilities, and security measures before making a choice. As the world of digital transactions evolves, so too should your choice of payment processor.
Handepay offers a range of services, including in-store card machines, online payment gateways, mobile payment solutions, and integrated payments. Worldpay provides similar services, extending to multi-currency processing and a wide spectrum of card brand acceptance.
The cost-effectiveness depends on the specific needs of your business. Handepay promises to save businesses money on card processing fees or give £1,000 to the customer. Worldpay offers different pricing plans that can be tailored to the volume and nature of your transactions.
Handepay typically does not charge setup fees. However, setup fees may apply with Worldpay depending on the chosen pricing plan.
PCI Compliance is included in the cost with Handepay, while with Worldpay, additional fees may apply.
Both Handepay and Worldpay include early termination fees, so it’s best to confirm the terms before signing the contract.
Handepay offers UK-based customer support 24/7, while Worldpay, having international operations, provides round-the-clock support, but you may not always be dealing with a UK-based team.
Both offer integration capabilities. Worldpay, due to its global presence, supports integration with a wider variety of POS systems, shopping carts, and business software. Handepay offers integrated payment solutions like the Handepay Spire system.
Worldpay does offer extensive multi-currency support due to its international presence. Handepay’s services might be more limited when it comes to multi-currency support.
Worldpay does allow global payment acceptance due to its large scale of operations. Handepay’s global payment acceptance capabilities might be more limited.
Handepay promises no hidden fees, while Worldpay’s fee structure may include various charges. It’s important to ask about all potential fees when signing up with either service.
Yes, both Handepay and Worldpay offer mobile payment solutions.
Both can cater to small businesses, but Handepay may be a more cost-effective and personalised service for SMEs operating primarily in the UK.
Yes, both Handepay and Worldpay comply with the Payment Card Industry Data Security Standard (PCI DSS), ensuring secure card payment processing.
Handepay typically offers a minimum contract length of 12 months, while Worldpay’s contracts range from 18 to 36 months.
Handepay and Worldpay both accept a wide range of credit and debit cards. Worldpay, due to its global presence, supports a broader range of card brands, including Visa, Mastercard, American Express, and China Union Pay.
Yes, both Handepay and Worldpay offer online payment gateways for accepting online payments.
Handepay’s transaction fees start from around 0.3% and can vary based on the volume of transactions. Worldpay’s fees start from 0.75% for credit cards and 0.2% for debit cards, with variations based on the selected pricing plan.
Worldpay, with its comprehensive range of services and ability to handle large transaction volumes, could potentially be more suitable for businesses with a large volume of transactions.
While both offer advanced payment solutions, Worldpay, due to its global operations and larger scale, might have an edge in terms of technologically advanced and varied solutions.
Handepay provides a dedicated switching team to make the transition from another provider as seamless as possible. Worldpay also aims to make the process of switching smooth for businesses.