How to reduce payment processing fees?
Three things cut payment costs for most UK businesses: find out what you actually pay per transaction rather than what you were quoted, remove terminal rental and contracts you no longer need, and move some of your takings off percentage-based pricing. A percentage grows with every sale, so £5,000 of monthly takings at 1.75% costs £87.50 a month whether or not anything about your business has changed.
Start with a real statement, not the headline rate. Premium cards, business cards, keyed-in payments and non-UK cards are often charged well above the advertised figure, and terminal rental and minimum monthly fees sit outside the rate entirely.
Then look at what does not need to be a card payment. Invoices, deposits, bookings and repeat customers can be paid by bank transfer over Open Banking, where the cost is a flat monthly fee rather than a share of each sale.
You do not have to move everything. Taking even part of your volume off percentage pricing caps the part of your costs that grows with your success.
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Try it on your own takings
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