At Wireless Terminal Solutions, we specialise in providing merchant accounts for large businesses. Our credit and debit card payment solutions are tailored to your business needs and we make the process of setting up a merchant bank account service as easy as possible. WTS support you through the whole process, and we will have you up and running with card payments in days not weeks. In fact, in 2016 our turnaround on card processing merchant accounts was three working days – much quicker than a lot of merchant providers in the UK.
Start Accepting Cards by Using A Card Processing Specialist
About Merchant Account Card Services
A merchant bank account is created under a contract between an acceptor and a merchant acquiring bank for the settlement of credit or debit card transactions. The acquirers make sure the funds are available on the payment card being used, and look after the whole process through to settlement into your account. If your business is just getting off the ground, and you have concerns over the long term stability, it’s a good idea to keep things simple and avoid signing up for lengthy contracts.
Getting started with Merchant Accounts
We will ask you to complete the paperwork and sign it via E-Signature, so there is no hanging around. Once the merchant bank account is approved, we can generally dispatch the card machine on the same working day. When the PDQ terminal arrives with you, all you need to do is switch it on, and you’re ready to start processing card payments – and the credit card machine is automatically linked to your merchant acquirer. We supply a wide range of payment card machines including countertop card terminals, portable, Wi-Fi and mobile options. We ensure every credit card machine comes with ongoing technical support in and out of hours, to give you peace of mind.
At the end of each calendar month you will receive a merchant bank account statement. This will detail all of your transactions, card sales, refunds and any other costs. The funds from purchases made by customers will automatically be transferred into your business account in full from one to three working days of the transaction taking place.
To get more familiar with merchant accounts (and all of the terminology surrounding merchant card processing), use our handy glossary terms guide on our website which you can access via our homepage.
What types of credit cards do you want to accept?
Mastercard and Visa are standard with any merchant card processing account, but is it important for your business to also accept other card brands, such as American Express? Factor in a list of credit card brands that you want to accept.
What other card processing fees do I need to consider?
There can be many other fees associated with a new merchant account beyond the traditional MSC (merchant service charges). Just a few other fees to ask about include the following:
Monthly minimum fees – Most merchant account providers charge a minimum monthly fee if the total transaction processing fees for the month do not add up to a minimum amount. The minimum monthly fee varies by providers but usually costs £20-£30
Setup fees – Ask what the set up costs are for the merchant account. Some companies have been known to charge up to £250!
Cancellation fees – In the event your business model changes, or you cease trading what charges will you incur if you cancel the merchant account.
Other charges you need to monitor are -chargeback fees, statement fees, annual fees relating to the account and customer service fees.
Offer Contactless for Small payments
Contactless card payments have revolutionised the payment industry, and have become extremely popular in the UK now. For merchants, contactless payments have two major benefits. They are quicker so it enables you to serve more customers in less time, and they can be slightly cheaper to process. If you are thinking of replacing an old card machine that doesn’t offer the contactless facility, this is an extra reason to do it now.
Wireless Terminal Solutions can also provide a dedicated online payment portal, allowing all payments to be monitored/accessed 24/7. Most merchant providers only supply hard copy statements, but we provide this facility free of charge, and it can be accessed remotely. The payments are tracked by your TID (Terminal Identification Number). Contact us now and let us guide you through the process from start to finish. Alternatively please head over to our Merchant Services page for more info.