The number of providers offering payment services to UK small businesses has exploded.
Many of these are app-based solutions, which offer businesses a simple and cost-effective way to start accepting customer purchases, whether they’re contactless card payments or even bank-to-bank transfers.
These payment apps are essential for small businesses and customers alike, making it easy for both parties to complete quick but secure transactions. With more consumers choosing to pay via contactless and suppliers invoicing online, businesses no matter how small need to be ready to process transactions.
>See also: Best mobile phone payment for self-employed
Payment apps for small businesses
You can use payment apps to make bank transfers, mobile payments, online card payments and point of sale payments.
This list includes payment gateway apps and point of sale (POS) payment apps. If you work in brick-and-mortar retail or are taking more than £10,000 per month, a more substantial payment solution, such as a card reader, might be a better option.
Here’s our pick of the best payment apps for small businesses.
WorldFirst
GoCardless
Wallestar
Worldpay
Square
Takepayments
Online payment gateway apps
Price
No monthly fee
Transaction fee
30p to £4 (+0.50 currency conversion)
Set-up fee
None
Terminal
None
WorldFirst is bringing down the cost of global ambition for small businesses in the UK. With its multi-currency account, you can receive funds in more than 20 local currencies and make payments to 200 countries in 100 currencies, all while avoiding intermediary bank and transfer fees. You also set a target FX rate and receive a live alert when it’s reached so you can take action. The account does not charge a monthly fee – instead, you just pay per payment you make.
And with WorldFirst’s virtual card, you can pay in 150+ currencies (with zero fees in 15 major currencies) across 210+ countries and territories.
Get started with WorldFirst
Price
No monthly fee
Transaction fee
From 1% + 20p per transaction (or custom for £1m+ businesses)
Set-up fee
None
Terminal
None
GoCardless’s big selling point is how it simplifies payments for both you and your customers, whether by allowing them to pay you directly from their bank accounts (avoiding high card fees) or making it easy for you to collect from them through automated recurring payments.
It also offers international payment solutions – you can collect payments from over 30 countries at the real market rate – and offers 350+ integrations with accounting, ecommerce, CRM solutions and more.
Get started with GoCardless
Price
Free to £865
Transaction fee
From 1% + 20p per transaction (or custom for £1m+ businesses)
Set-up fee
None
Terminal
None
With Wallestar, you can open multi-currency IBAN accounts to send and receive payments, exchange currencies, and issue unlimited physical and digital expense cards to your team. Make funds instantly available with single-click bulk payouts to employee cards, access competitive exchange fees on international transactions, and manage everything from one central dashboard.
Get started with Wallester
Price
Vaires
Transaction fee
1.50% or custom
Set-up fee
None
Terminal
DX8000
Worldpay offers a full range of payment solutions, including ecommerce payment processing, card readers for in-store transactions, embedded payments and finance, and much more.
Whether you need a mobile card payment device or a PCI-compliant online payment system, Worldpay has you covered, with competitive pricing and features to optimise your setup.
Get started with Worldpay
Square
Price
Free
Transaction fee
1.75% in-person, 1.4% + 25p online
Set-up fee
No
Terminal
Square
With the Square app, you can turn your phone into a mobile card reader with Tap to Pay and accept online payments.
There are no setup or monthly fees – you only pay when you take a payment – and Square pays out within one to two days. Fees start from a flat rate of 1.75% for in-person transactions or 1.4% + 25p for online processing. Square also sells a range of hardware, including mobile card readers and full POS setups.
Get started with Square
Takepayments
Price
Request quote
Transaction fee
0.3% to 2.5%
Set-up fee
Request quote
Terminal
Takepayments (various models)
Takepayments can act as a payment gateway or POS system.
The payment gateway is a customisable checkout page on your website, so it acts and feels like your brand, but is hosted by Takepayments. Contactless and easy to set up, payments take 24 hours to be paid into your account.
Takepayments also has two apps, beepaidGO and Order and beepaid.
BeepaidGO doesn’t require a terminal but allows you to send payment requests via email or text message. You can then manage these payments through the app dashboard.
Get started with Takepayments
Next steps
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