Why Switch Payment Providers?
UK businesses switch payment providers for several reasons:
- Lower costs - Average savings of £150-400 per month
- Better service - Faster support, UK-based teams
- Modern technology - Newer terminals, better integrations
- Contract flexibility - Moving from long-term to rolling monthly
- Additional features - Better reporting, mobile payments, integrations
💡 Good to Know: The average UK business saves £2,400 per year by switching to a better payment provider. The switching process typically takes 2-4 weeks from start to finish.
Complete Timeline
Full Switching Timeline: 2-4 Weeks
- Week 1: Research & quotes (2-3 days) + Decision & application (2-3 days)
- Week 2: Underwriting & approval (3-5 days) + Equipment delivery (2-3 days)
- Week 3: Installation & training (1-2 days) + Testing & parallel running (3-5 days)
- Week 4: Go-live + Cancel old provider
Step-by-Step Switching Process
1
Review Your Current Contract
Before starting, understand your current situation:
✓ Things to Check:
- Contract end date
- Notice period required (typically 30-90 days)
- Early termination fees (if any)
- Equipment ownership (rented or purchased?)
- Minimum monthly service charges
- Auto-renewal clauses
⚠️ Warning: Some providers have auto-renewal clauses that can lock you in for another 12-36 months if you don't give notice in time. Check your contract NOW.
2
Research & Get Quotes
Gather 3-5 quotes from different providers:
✓ Information to Provide:
- Monthly card turnover (£)
- Average transaction value
- Number of transactions per month
- Industry/business type
- Debit vs credit card split (%)
- Face-to-face, phone, or online payments
- Any special requirements (EPOS integration, mobile payments, etc.)
💡 Pro Tip: Use a comparison service like MerchantSwitch to get multiple quotes quickly. This saves time and ensures you're getting competitive rates.
3
Choose Your New Provider
Make your decision based on:
| Factor |
What to Look For |
| Total Cost |
Not just transaction rate - include all monthly fees |
| Contract Terms |
Prefer rolling monthly or max 12 months |
| Settlement Speed |
1-2 days is standard; same-day costs extra |
| Support |
UK-based, 24/7 availability for issues |
| Equipment |
Modern terminals with contactless & mobile wallet support |
4
Submit Application
✓ Documents You'll Need:
- Business bank account details (for settlements)
- Company registration number (if limited company)
- VAT number (if VAT registered)
- Proof of address for business premises
- Director ID (passport or driving license)
- Recent bank statements (typically 3-6 months)
- Processing statements from current provider (helpful but not always required)
Timeline: Application takes 15-30 minutes. Approval typically takes 2-5 business days.
5
Underwriting & Approval
The new provider will review your application and may:
- Request additional documentation
- Call to verify business details
- Check your credit history
- Review your processing history
Timeline: 3-7 business days for most businesses. High-risk industries may take longer.
💡 Tip: Respond quickly to any requests for information. Delays in providing documents are the #1 reason switching takes longer than expected.
6
Equipment Delivery & Setup
Once approved, your new terminals will be delivered:
✓ What You'll Receive:
- Card terminal(s)
- Power adapters
- Receipt paper rolls
- User manual
- Quick start guide
- Login credentials for online portal
Timeline: 2-3 business days for delivery after approval.
Installation Options:
- Self-installation - Easiest option. Plug in, turn on, start processing (most modern terminals)
- Engineer installation - For complex EPOS integrations or multiple locations
- Remote setup - Provider guides you through setup over phone/video call
7
Training Your Staff
Ensure your team knows how to:
✓ Essential Training Items:
- Process a standard card payment
- Process a refund
- Handle declined transactions
- Manually enter card details (if needed)
- Process tips (for hospitality)
- End-of-day procedures (if applicable)
- What to do if terminal stops working
- Who to call for support
Timeline: 30-60 minutes for basic training. Schedule before your go-live date.
💡 Tip: Record a quick video of the training session for future staff reference. Most providers also offer online training videos.
8
Testing Phase (Critical!)
This is the most important step to avoid downtime:
✓ Testing Checklist:
- Test transaction: Process a small sale (£1-5) with your own card
- Test refund: Immediately refund the test transaction
- Test contactless: Verify tap payments work
- Test mobile wallets: Apple Pay, Google Pay, Samsung Pay
- Test chip & PIN: With higher value transaction
- Test receipt printing: Ensure receipts print correctly
- Check settlement: Verify test funds hit your bank account
- Test EPOS integration: If applicable, ensure sales sync correctly
- Check reporting: Log into online portal, verify transaction appears
- Test support: Call support line to confirm they can help if needed
Timeline: Allow 2-3 days for thorough testing, including settlement verification.
⚠️ Critical: Never go live without testing first. A 30-minute testing session can prevent hours of downtime and lost sales.
9
Parallel Running (Optional but Recommended)
For 3-7 days, run both old and new systems simultaneously:
- Keep old terminal plugged in and ready as backup
- Use new terminal for most transactions
- Have old terminal available if new system has any issues
- Build confidence with new system before fully committing
Benefits: Zero risk of downtime. If anything goes wrong with the new provider, you can immediately fall back to the old system.
💡 Best Practice: For busy businesses (restaurants, retail stores), start parallel running on a quiet day (Monday/Tuesday) rather than Friday/Saturday.
10
Go Live!
When you're confident everything works:
- Remove old terminal from counter
- Brief staff: "We're now using the new terminal for all payments"
- Keep old terminal available for 24-48 hours just in case
- Monitor first day closely
✓ First Day Checklist:
- Ensure all staff know how to use new terminal
- Have support number visible/accessible
- Check transaction reporting throughout the day
- Verify settlements are processing correctly
- Collect any staff feedback on issues
11
Cancel Old Provider
Important timing: Only cancel your old provider AFTER successfully processing with the new provider for at least 3-5 days.
✓ Cancellation Steps:
- Submit cancellation in writing (email or letter - check your contract)
- Reference your account number and business name
- State your cancellation date (must meet notice period requirements)
- Request confirmation of cancellation in writing
- Arrange return of rented equipment (if applicable)
- Request final statement showing zero balance
- Cancel any direct debits (after final statement)
Sample Cancellation Letter:
[Your Business Name]
[Your Address]
[Date]
[Provider Name]
[Provider Address]
Dear [Provider],
I am writing to give notice to terminate our card processing agreement for the following account:
Account Number: [Your Account Number]
Business Name: [Your Business Name]
Notice Period: [X] days as per contract
Please confirm this cancellation in writing and provide details for returning any rented equipment. I also request a final statement showing the account has been closed with zero balance.
Yours sincerely,
[Your Name]
[Your Position]
⚠️ Important: Keep a copy of your cancellation notice and any responses. Some providers may continue charging if they claim they never received your cancellation.
12
Final Wrap-Up
✓ Final Checklist:
- Receive and verify final statement from old provider
- Ensure no unexpected charges
- Cancel direct debit to old provider (after final payment)
- Return any rented equipment (get proof of return)
- Keep records for at least 6 months
- Update website/marketing materials with new payment methods (if applicable)
- Add new provider details to accounting system
Common Pitfalls to Avoid
| Pitfall |
How to Avoid |
| Missing contract notice deadline |
Set a calendar reminder 90 days before contract end date |
| Not testing thoroughly |
Allow 2-3 days for full testing including settlement |
| Switching during peak season |
Plan switches for quieter trading periods |
| Not training all staff |
Ensure every employee knows how to use new terminal |
| Cancelling old provider too early |
Wait 5-7 days of successful processing before cancelling |
| Not keeping records |
Save all correspondence, contracts, and statements |
Frequently Asked Questions
Q: How long does switching take?
A: Typically 2-4 weeks from application to go-live. Can be faster (1 week) for simple setups or longer (4-6 weeks) for complex integrations.
Q: Will I have downtime?
A: No, if you follow the parallel running approach. You'll have both systems available during the transition.
Q: What if my old contract isn't up yet?
A: Check your early termination fees. Sometimes the savings from switching still make it worthwhile. Calculate: (Monthly savings × Months remaining) vs Early termination fee.
Q: Can I keep my merchant ID?
A: Sometimes yes, sometimes no. Ask your new provider. Keeping it maintains transaction history but isn't always possible.
Q: What happens to pending settlements?
A: The old provider will still settle any transactions processed on their system, even after you switch. This can take 3-7 days.
Q: Do I need to tell customers?
A: No. The switching process is invisible to customers - they just tap/insert their card as normal.
💡 Ready to Switch? MerchantSwitch can help you compare providers and manage the entire switching process. We'll ensure zero downtime and handle the heavy lifting for you. Get your free quotes today!