For any business wanting to take card payments, whether that’s face to face, over the phone or online, you’ll need to be setup with a verified merchant service account. A merchant account can help prevent fraud and ensure you’re processing safe and secure card payments. The account acts as a holding area while the customers card details are checked and that they have the funds to make the payment. Following these checks, the funds are then transferred to your business bank account.
We have over 25 years of experience supporting thousands of independent UK businesses with their payment solutions. We take a personal approach and spend time getting to know you and your business. One of our local card payment specialists will come and meet you face to face, to understand your business needs, bringing with them a wealth of local business knowledge. By working closely with you, they'll discuss the best payment solution for you and provide a bespoke pricing package. We offer a flexible 12 month contract, plus there's no set up fees when you join. We are also FCA regulated for consumer hire.
A merchant account (also known as merchant services) is a bank account where funds are deposited every time you process a card payment. For any business which wants to accept card payments, you will need to be set up with a verified merchant service account as this checks that the customers details are correct to prevent fraud, plus it will store funds taken from card payments before being redirected into your business bank account.
There are no extra costs for merchant services as this is all part of setting up card acceptance for your business. At Payzone, we don’t believe in a one-size fits all approach. That’s why one of our payment specialists will come and visit you to learn more about you and your business. They will then create a bespoke pricing package to suit your business needs.
Once we offer you an initial quote and you’re happy with it, your account is taken for approval for one of our acquiring banks. After this has been approved, you’ll be given a merchant ID. The overall setup process can usually take between a week to ten days.
The merchant service account acts separately from your normal business bank account. Every time you take a credit or debit card payment, the funds are held here before being transferred to your business bank account where you’ll be able to access them.