1. Transaction Fees & Costs
Card Transaction Rate - What percentage do they charge per transaction?
- Debit cards: _____%
- Credit cards: _____%
- Business/corporate cards: _____%
- International cards: _____%
Fixed Transaction Fee - Is there a per-transaction charge on top of the percentage?
- Amount: £_____ per transaction
Minimum Monthly Service Charge (MMSC) - What's the minimum you'll pay each month?
- Amount: £_____ per month
- Does low transaction volume trigger higher fees?
PCI Compliance Fee - Annual or monthly charge for security compliance
- Amount: £_____ per year/month
- Can this be waived?
Terminal Rental vs Purchase
- Rental: £_____ per month
- Purchase: £_____ one-time
- Which option makes financial sense for your volume?
💡 Tip: UK average transaction rates are 0.75-1.75% for debit cards and 1.5-2.75% for credit cards. If you're being quoted higher, negotiate!
2. Contract Terms
Contract Length - How long are you locked in?
- Duration: _____ months
- Is there a rolling monthly option?
Early Termination Fee - What if you need to leave early?
- Fee: £_____ or _____ months remaining
Notice Period - How much notice to cancel?
- Notice required: _____ days
Auto-Renewal Terms - Does the contract auto-renew?
- Auto-renew: Yes / No
- New term length if renewed: _____ months
⚠️ Warning: Avoid contracts longer than 18 months. Many providers offer rolling monthly contracts - always ask for this option first.
3. Hardware & Equipment
Terminal Type - Which terminal are they offering?
- Model: _____________
- Countertop / Portable / Mobile?
- 4G/WiFi/Bluetooth connectivity?
Receipt Printer - Included or extra cost?
- Cost: £_____ (or included)
Battery Life - For portable/mobile terminals
- Full day operation possible?
- Battery: _____ hours
Warranty & Replacement
- Warranty period: _____ years
- Replacement if faulty: Same day / Next day / _____ days
- Replacement cost: £_____ (or free)
4. Payment Features
Contactless Payments - Maximum limit?
- Contactless limit: £_____ (current UK limit is £100)
Mobile Wallet Support - Apple Pay, Google Pay, Samsung Pay?
Chip & PIN - Standard for UK
- Supported: Yes (should always be yes)
Manual Entry - For phone/mail orders
- Manual entry fee: £_____ per transaction (or same rate)
Tipping Feature - Essential for hospitality
- Pre-set tip amounts available?
- Custom tip entry possible?
5. Integration & Compatibility
EPOS Integration - Does it work with your till system?
- Compatible with: _____________
- Integration cost: £_____ one-time or £_____ monthly
Accounting Software Integration
- Xero integration: Yes / No
- QuickBooks integration: Yes / No
- Sage integration: Yes / No
Online Gateway - For e-commerce
- Virtual terminal included?
- Payment gateway fee: £_____ per month
6. Settlement & Cash Flow
Settlement Time - How quickly do you get paid?
- Standard: _____ business days
- Faster settlement available? Cost: £_____
Weekend Processing - Are weekends counted?
- Weekend transactions settle: Same speed / Delayed
Reserve Requirements - Do they hold any funds?
- Rolling reserve: _____% of transactions
- Duration: _____ days
7. Support & Service
Customer Support Hours
- Phone support: _____ hours, _____ days per week
- 24/7 support available?
UK-Based Support
- Support team location: _____________
- Onshore vs offshore?
Account Manager
- Dedicated account manager: Yes / No
- Proactive support or reactive only?
Training Provided
- Initial setup training: Yes / No
- Ongoing staff training: Yes / No
- Training materials: Videos / Manuals / In-person
8. Reporting & Analytics
Online Portal Access
- Real-time transaction viewing?
- Mobile app available?
Reporting Features
- Transaction history: _____ months
- Custom reports available?
- Export to CSV/Excel?
Settlement Statements
- Frequency: Daily / Weekly / Monthly
- Easy to understand?
9. Additional Questions to Ask
Are there any hidden fees not mentioned? (Ask specifically about: PCI non-compliance fees, chargeback fees, statement fees, gateway fees)
What happens if transaction volume increases significantly? Do rates improve?
Are there volume discounts available? What threshold triggers them?
What's the chargeback process and fees? (Typical: £15-25 per chargeback)
Is there a refund processing fee? (Some providers charge for refunds)
What security certifications does the provider hold? (FCA authorized? PCI DSS Level 1?)
Can you keep your merchant ID if you switch away? (Maintains transaction history)
What's the installation process? Timeline? Any setup fees?
💡 Pro Tip: Get at least 3 quotes to compare. Use this checklist with each provider to ensure you're making an apples-to-apples comparison.
Decision Matrix
| Criteria |
Provider 1 |
Provider 2 |
Provider 3 |
| Monthly Cost |
£_____ |
£_____ |
£_____ |
| Transaction Rate |
_____% |
_____% |
_____% |
| Contract Length |
_____ months |
_____ months |
_____ months |
| Settlement Time |
_____ days |
_____ days |
_____ days |
| Support Quality |
___/10 |
___/10 |
___/10 |
| Overall Score |
___/10 |
___/10 |
___/10 |