Important changes to the price you pay for transactions
Q: Why is my pricing changing?
A: We are making changes in response to recent announcements from Visa and MasterCard. Both card schemes are updating the fees that they charge with effect from January next year. At the same time, we are working towards harmonising our pricing structure to create a more consistent pricing approach across our customer base. As a consequence some of the fees you pay are changing.
Q: How will this change affect me?
A: As all businesses are different the extent to which these changes will impact you will depend on the volume and value of your card transactions.
Q: What is a Minimal Monthly Service Charge (MMSC)?
A: An MMSC is applicable to all customers who use our standard pricing package. It covers the ongoing costs of maintaining and servicing your account. In the event that your monthly acquiring fees are less than the MMSC, these fees will be rounded up to this minimum monthly amount. However if your monthly acquiring fees already cover the MMSC fee, this charge will not apply. It is also not applicable for customers using our Pay As You Go (PAYG) plan. For more information about PAYG www.worldpay.com/uk/sme/pricing
Q: When will these changes take effect?
A: Your new fee structure will apply from 1st January 2017 and you will see these changes detailed in your February invoice, delivered the first week in February 2017.