Worldpay Review 2023: Pricing, Features, Alternatives
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What is Worldpay?
Worldpay is a merchant services provider that provides merchant accounts to small businesses in the grocery, personal services, professional services, retail, restaurant and food services industries. Worldpay is owned by FIS and is one of the largest payment processors in the United States.
A merchant account is a special type of bank account that’s required to accept credit and debit card payments from customers. It holds the funds from cleared card transactions before they are transferred to your business bank account.
Worldpay pricing and features
Worldpay does not provide upfront pricing — you have to contact the company by phone, email or online quote generator to get a quote based on your business’s information. Although this practice may not be uncommon for large payment processors, the lack of transparent pricing can make it difficult to compare the cost of Worldpay with other providers.
Similarly, Worldpay is not clear about the cost of additional services like its security solution OmniShield Assure and its analytics iQ platform — and whether these are included as part of a standard credit card processing solution or whether they require extra fees.
Payment processing cost
Custom quoted for each customer, depending on transaction volume.
Businesses in the grocery, personal services, professional services, retail, and restaurant and food services industries.
Custom quoted for each customer.
Three-year initial contract, with an annual renewal thereafter. Fees may apply for early termination of the contract.
Worldpay provides its main customer service through phone and email, offering support through the Contact Center phone line. Worldpay also has a developer portal with documentation for merchants and partners, as well as a blog with informational articles, research and reports.
How does Worldpay credit card processing work?
Worldpay credit card processing services allow small businesses to accept a variety of types of payments, including:
Digital and mobile wallets, such as Apple Pay or Google Pay.
Electronic checks (i.e., ACH transfers).
With Worldpay, you can process payments using stand-alone terminals, mobile terminals, smart terminals, point-of-sale systems, e-commerce software and payment gateways. Worldpay offers a range of third-party hardware that it says is compatible with its systems. Worldpay also offers its OmniFlex product, which is another way merchants can accept card-present, card-not-present, real-time and recurring transactions — whether in store or online.
In addition to credit card processing, these Worldpay merchant services and products are available.
OmniShield Assure is Worldpay’s security platform that helps protect your business from data breaches and fraudulent transactions. The platform provides point-to-point encryption of customers’ credit card data and has tools to assist with PCI compliance. It includes Breach Assist — a feature that reduces your financial liability by providing compensation of up to $100,000 for costs associated with a data breach.
Worldpay iQ is an analytics and reporting tool that tracks payment processing data, giving you insight into your business performance. You can view sales data reports and payment processing history, including statements and reconciliation data. You can also manage transaction disputes within the iQ Now app on iOS and Android devices.
StoreCard gift card program
Worldpay offers its own gift card implementation program, called StoreCard. With StoreCard, you can build a gift card, rewards and loyalty program. Worldpay can provide custom or pre-designed cards with variable or preset values. It also has the option to create digital promotions, automatic rewards and virtual gift cards. The program can be integrated with your POS system and includes analytics and online reporting.
Integrations and plug-ins
Worldpay integrates with hundreds of POS systems, payment gateways, e-commerce platforms and enterprise resource planning solutions. Although the Worldpay website doesn’t offer a comprehensive list of integrations and technology partners, here are some of the available providers:
Adobe Commerce (formerly Magento).
International. Has a global reach, serving over 100 countries.
Compatibility. Integrates with leading business software solutions, such as BigCommerce and Authorize.net.
Customizable. Lets you customize the look and feel of your online payments pages.
Support. Provides 24/7 customer support.
Lack of upfront pricing. Requires a talk with a salesperson to find out what payment processing will cost you.
No transparency on product details. Involves a conversation with a salesperson to get sufficient product information.
Alternatives to Worldpay
To choose the best payment processor for your business, you’ll want to consider factors such as cost, industry, how you want to get paid and how you operate (online, in person, etc.). If you’re not sure Worldpay is right for you, consider these alternatives.
Payment processing fees:
Interchange plus 0.3% and 8 cents per in-person transaction (if less than $25,000 in monthly card transactions).
Interchange plus 0.5% and 25 cents per online transaction (if less than $25,000 in monthly card transactions).
Interchange plus 0.5% and 25 cents per manually keyed transaction (if less than $25,000 in monthly card transactions).
0.5% plus 25 cents for ACH payments.
Why we like it: Helcim is a more transparent merchant account provider that offers in-person and online payment options. Helcim uses interchange-plus pricing, which can vary based on many factors, but it's still more upfront than Worldpay about its payment processing fees. It’s also easier to get a read on hardware costs. In addition to payment processing, Helcim offers unlimited invoicing, a self-service customer portal and the option to set up an online store.
Payment processing fees:
2.6% plus 10 cents for in-person transactions.
2.9% plus 30 cents for online transactions.
3.5% plus 15 cents for manually keyed transactions.
3.3% plus 30 cents for invoices.
Why we like it: Square offers payment services based on a flat-rate processing model without a monthly subscription fee. Custom pricing is available for businesses that process more than $250,000 annually. Also, the point-of-sale software is free, which isn’t the case for Worldpay, and you can also set up a free online store. Dispute management, fraud prevention and an offline operating mode are additional features.
» Want even more alternatives? Check out our list of top payment processing companies
Billie Anne Grigg contributed to this article.
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