Payment processing

Taking card payments: the players, the fees and the rules.

What it means

Card payments involve an acquirer, a payment gateway, the card schemes and the customer's issuing bank. Providers like Stripe, SumUp and Square bundle several of these.

Why it matters

Fees are a real cost of sale and vary by card type, by whether the card is present, and by whether the customer is a consumer or a business.

What it looks like in practice

Compare on total cost including the percentage, the per-transaction fee, chargeback fees and any monthly minimum. Interchange fee caps limit part of it for consumer cards.\n\nStrong customer authentication is required for most online payments.

What to watch out for

Chargebacks. The customer's bank can reverse a payment months later and you carry the loss plus a fee, which is why keeping delivery evidence matters.\n\nAnd surcharging consumers for card payments, which is prohibited.

Where to get proper advice

Your provider's fee schedule, read in full. A payments broker for higher volumes.