Important changes to the price you pay for transactions

Frequently Asked Questions

Q: Why is my Visa Debit rate changing?
A:
The change has been triggered by a change to the way Visa charges for Debit transactions. It is moving from a pence-per-transaction fee, to one that is mainly percentage based.
To cover any costs associated with this change, and to support our continued investment in our products and services, we will be increasing charges for Visa Debit transactions for the majority of our customers.

Q: How will this change affect me?
A:
The extent to which this will impact you will depend on the volume and value of debit card payments you take. We expect the majority of customers will see an increase in their cost for processing a Visa Debit transaction as a result of moving to a percentage rate.

The table below shows how costs will increase as transaction values rise. 

Please note these % rates are examples only and do not reflect your new rate. 

As you can see from the examples in the table, those customers with higher average transaction sizes, are likely to see higher increases in costs as a result of these price changes.
Transaction value Original Pence Rate Example % Rate New Cost (for comparison)
£50 £0.30 0.93% £0.46
£75 £0.30 0.75% £0.56
£100 £0.30 0.65% £0.65
£150 £0.30 0.55% £0.83

 

Q: I’m aware that my new rate is higher than other companies are being charged why is that?
A: The new % rate for a Visa Debit transaction will vary from company to company based on its turnover, volume and average transaction value.  For companies where average transaction sizes are low, the % rate we charge may be higher to reflect fixed cost elements.

Q: My Visa Debit rate has moved to a higher pence rate instead of a percentage, why is that?
A: We’re moving the majority of our customers to a new percentage-based rate for Visa Debit transactions, in response to Visa’s change. However, where you have a very high average transaction size, we’re moving you to a new higher pence rate. This is because a new % rate would have resulted in a very significant increase to your costs.  We’re therefore moving you to a new higher pence per transaction rate, to reflect increased costs to us, while limiting the impact of the change on you.

Q: Is MasterCard going to change its rates too? 
A: MasterCard has announced it will be making some reductions in its credit card rates from April 2015 and into 2016. We’ll write to you to tell you more about this change and the savings it will bring early next year. We’re not aware that MasterCard is going to make any Debit rate changes.  However, MasterCard debit accounts for a very small percentage of the debit card market.

Q: I’ve only recently joined Worldpay, why are you changing my prices already?
A: Visa is making a fundamental change to the way it charges for its debit card transactions. Therefore we need to adjust our pricing in response to reflect the changes.  Unfortunately, we still need to do this despite the fact that you’ve only recently joined us.

Q: Will there be more changes to come?
A: As your letter/email states MasterCard is going to reduce its rates for some domestic credit card transactions starting from April 2015.  We’re also expecting some EU regulation changes next year which are likely to reduce the cost of taking card payments.  As soon as we know of any confirmed changes, and what they might mean for you, we’ll of course be in touch.

Investing in products and service

Q: What are you investing in?
A: We’re already investing significantly in our UK customer helpdesk ensuring it is always open to support our customers, 24 hours a day, 365 days a year. In addition we’ve launched next day terminal replacement* as standard for all Worldpay customers.

In addition we’re making a significant investment into a number of tools to help you manage your payments more easily and other benefits for your business. We’ll be in touch early next year to share more about these.

*Conditions apply. Certain postcodes are excluded from the next day terminal replacement service.

Q: Why are Contactless transactions no longer discounted?
A: Visa will cease to separately discount Contactless transactions on debit cards from 1 March, so we’ll no longer be able to pass this discount on to you.  However, given Contactless transactions are under £20 in value, moving from a pence to a percentage rate will mean that costs for these transactions stay low.

Q: Why are you making changes to additional fees for premium transactions?
A:  These increases are partly in response to increases Visa has made to its charges for processing non-secure transactions.

Q: Why is my Cardholder Not Present charge going up?
A: We’ve increased this partly in response to a change in the way Visa classifies these transactions. From March, all Mail or Telephone Order Transactions will be classed as ‘non secure’ and will attract a higher interchange cost.

Q: Does my invoice show me which cards or transactions have additional charges?
A: Yes. The total charge amounts will be shown on your Worldpay invoice. We have improved your invoice to display additional charges applied against each card type. If you need more detail, then please contact our helpdesk.

Q: What if my terminal malfunctions and I have to process a transaction as either a pan key or magnetic stripe transaction? Why should I pay extra when it's not my fault?
A: Unfortunately the cost to Worldpay for processing a high risk/premium transaction stands, regardless of how the transaction is made.

Understandably from time to time, a customer may experience a problem with their terminal. We aim to fix or replace 95 per cent of our terminals within eight hours of the fault being reported.

We make a significant investment into our terminals to ensure they run quickly and efficiently and update our product suite regularly. See our terminal troubleshooting guidance if you ever need help resolving terminal issues.

Q: Why is there an additional charge for inter-regional transactions?
A: There is an additional charge for these transactions to reflect the higher fees charged by MasterCard and Visa, for payments on cards issued outside of Europe.

Q: Why is my inter-regional transaction fee going up?
A: We’ve increased this partly in response to increases Visa has made to its charges for processing inter-regional transactions.

Q: Card processing seems expensive. What am I getting for my money?
A:  We appreciate payments and the various charges for them can seem complicated at times.

Our charges are set based on our own operational and costs and the fees we pay to the card schemes, MasterCard and Visa.

We offer a competitively-priced service with lots of added value. As a customer of ours, you can expect:

  • A stable, reliable payments system you can trust.
  • Fast, flexible card payment processing – whether face to face, online, or by mail or telephone order.
  • Freedom to use your own terminals and equipment if you wish.
  • Next day terminal replacement as standard*
  • Easy PCI DSS certification through SaferPayments: to meet the mandatory industry standard for secure customer data.
  • Round the clock help and guidance from our dedicated UK-based helpdesk call centre, 24 hours a day, 365 days per year.
  • Support in understanding and defending chargebacks
  • Innovative products designed to help you grow your business and manage your payments more easily.

*Conditions apply. Certain postcodes are excluded from the next day terminal replacement service.