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Payment Gateway Comparison

Payment Gateway

With the diminishing use of cheques and the convenience of using credit or debit cards compared to cash, the increased preference for easier payments goes from strength to strength.

According to the latest stats from BT, half a million credit/debit card transactions take place every hour in the UK. In 2010, over £58 billion was spent in e-commerce transactions. For businesses then, a payment gateway is rapidly becoming an essential rather than a luxury.

Payment gateways are provided in a variety of ways from a number of different providers. In order to work out the best solution for your business, you’ll need first to decide what type of payment gateway you need.

If you want to find out more about the range of payment gateway options available, simply continue reading the content on this page. If you want to start comparing quotes today though, you just need to fill in the form at the top of the page.

Comparing quotes with Approved Index is free, quick and easy, and it could save you as much as 40% on your payment gateway requirements.

Compare Payment Gateway Providers


Compare Top Payment Gateway Providers

There are a range of UK payment gateway providers to compare; some provide detailed information on what they offer and their charges, others are less transparent. However, if a specific provider is reluctant to publicise its detailed cost structure it shouldn’t be taken as an indication it is trying to hide something or it is less competitive.

The table below contains a side by side comparison of some of the UK’s most trusted companies - take a look now to see which suits your business best.

SupplierSet-Up FeeMonthly FeeMonthly Transaction AllowanceContract Term
Total Web SolutionsFree£1030012 Months
RealexFree£1935012 Months
eWayFree£19350No Minimum
SagePay Free£251000 per quarterNo Minimum
Paysafe£150£5025012 Months
PayPointVariable£4050012 Months
OgoneFree£2030012 Months

The table above contains some basic information about a number of payment gateway providers - for more details, you should complete the form at the top of this page today.

Types of Payment Gateway

Which type of payment gateway is most appropriate for a business obviously depends on what’s being sold, how it’s being sold and to whom. Payment gateways take two distinct forms:

  • Virtual Terminals - For businesses who sell by phone or mail-order. A web based payment portal is provided for entry of the customers card details. The transaction is verified within seconds and comprehensive reporting tools are provided to monitor transactions and calculate revenues.
  • Online Payments - These terminals ‘plug-in’ to your ecommerce website allowing automated online card payments where the details are entered by the customers themselves. Again, payment confirmation occurs almost instantly and reporting tools are provided.

Payment Gateway Considerations

When choosing between payment gateway providers there are a number of factors you’ll wish to consider.

  • Standing charges - monthly charges for provision of the service.
  • PCI DSS Compliance- does the payment gateway provider comply with industry standard data protection and anti-fraud measures?
  • Turnaround time - how long will you have to wait between the transaction verification and the money being released to your account?
  • Automation - are approved transaction details sent to your merchant account provider in batches. Is this done automatically or will you need to batch receipts manually?

Free Payment Gateway Providers

As mentioned, a payment gateway allows merchants with ecommerce websites to accept credit card payments from their clients or customers.

When your customer submits their credit or debit card payment, they are encrypted and sent to a payment gateway, which routes the transaction through the correct accounts so that the money can reach yours.

Using a payment gateway incurs fees, often a monthly charge plus a cost that is levied on each transaction. Some those fees are then distributed to other parties including the credit card companies. For this reason, ‘free payment gateways’ are not really available - however, it may be possible to find provider with low upfront costs.

Finding a Free Payment Gateway

Every business wants to save money, and avoiding payment gateway costs would be an excellent way of doing so and gaining a competitive advantage over your competitors, however it simply isn’t possible.

If you are running a charity, then it is possible to get excellent payment gateway deals, but even then it isn’t free. There are payment gateways that don’t levy set-up or monthly fees, but they often charge more for transactions.

Compare UK Payment Gateway Providers

The information on this page has been designed to provide insight into the payment gateway options available to UK businesses - to get an even better idea though, you should speak directly to top providers - Approved Index can help here.

By filling in the form at the top of this page, you can help us to pair you up with up to 4 top suppliers that can provide bespoke payment gateway quotes based on your needs and specifications.

Comparing quotes with Approved Index is free, quick and easy, and it can save you as much as 40% on set-up and ongoing fees.

Compare Payment Gateway Providers