Why are my Merchant Service Charge fees changing?

Visa & Mastercard are both increasing the cost of processing certain card payments which will affect all acquirers including Worldpay.  Your fees will be increased to reflect this change.

Why is my authorisation fee changing?

In line with increased costs from Visa relating to the authorisation of transactions a small increase will apply to your authorisation fee.  It’s important to remember that authorisation doesn’t guarantee payment, but does check that the card has not been registered lost or stolen and that there are sufficient funds available in the cardholder’s account at the time of the transaction.

Why are there changes to certain premium transactions?

To create more consistency across our customer base, we have harmonised Inter-Regional and Intra-Regional Premium Transaction fees.  Premium Transaction fees are payable in addition to your base transaction charges.  Premium Transactions attract a higher processing fee due to the higher risk associated with these types of transactions.

What is an Intra-Regional and Inter-Regional transaction

An Intra-Regional transaction is a card payment taken in the UK on a European card issued in countries outside of the UK.  An Inter-Regional transaction is a card payment taken in the UK on a non-European issued card.   Both types of transactions attract higher processing fees, due to the increased risk.  

When will these changes take effect?

Your new fee structure will apply from 1st March 2018 and you will see these changes detailed in your March invoice, delivered the first week in April 2018.

How will this change affect me?

The extent of the change will depend on your individual transaction profile – i.e. the volume and average transaction value of the cards you process – together with where the card has been issued, country of issuei.e. UK Domestic, Inter-Regional (International) or Intra-Regional (Europe).

I pay additional charges for premium transactions, will these still apply?

Yes, where charges for premium transactions are in place these will still remain to reflect the fact that premium transactions are typically less secure and may attract additional ‘scheme fees’

What will other card acquirers / processors do as a result of these changes?

Changes to Card Scheme Fees and to Legislation are industry wide – we expect all card acquirers will be passing on these changing card scheme fees and amending their standard T&C’s.

Why have you made a change to my Terms & Conditions?

These changes are as a result of changing legislation including the new Payment Services Directive 2 (PSD2) and the General Data Protection Regulation (GDPR).  The GDPR is a European Union law that strengthens and unifies data protection for individuals within the European Union and replaces the current Data Protection Act 1995 in the United Kingdom – thus enhancing your rights.

Where can I find a copy of the full Terms & Conditions?