Frequently Asked Questions
Will my business benefit from accepting debit & credit cards?
Yes, in today’s economic environment most consumers and an increasing percentage of businesses expect to be able to use debit & credit cards to pay for their goods and services. Taking card payments means you can benefit from the total payment market opportunity, rather than just restricting your business to the amount of cash that your customer’s have in their pocket.
How do debit & credit card payments compare to cash?
In today’s market, accepting debit and credit cards is the preferred method of payment. Since 2006 more payments have been made by card than cash.
Spending on cards is also increasing at a much faster rate than both cash and cheques, which confirms the need to start taking card payments to maximise your potential business success.
What are the benefits of taking credit and debit cards?
- Offering your customers a choice – people expect to be able to pay by card so if a customer leaves to get cash, they may not come back
- Impulse Buying / Trading Up – if you only take cash, then your customer can only spend what they have in their pocket. If they can use their debit or credit card then they are not as restricted and will often spend more money or make an impulse purchase
- Improved Security for you and your Customer – if you accept cards you can have less cash on the premises, also people don’t feel as safe carrying cash around with them anymore
- Gain a wider customer base – card payments open up the option of taking payment by phone, mail and online
What do I need to start taking debit and credit cards?
The main things you need to start accepting debit and credit card payments are -:
1. A merchant account
2. A current business bank account
3. A credit card terminal to process payments
Handepay can provide all of these for you
What will it cost me to process debit and credit card transactions?
Handepay’s fees are some of the most competitive in the market place and will be agreed with you once we understand your business requirements.
Card transaction value and volumes will determine the processing fees whilst your terminal requirements and length of contract will influence the cost of the credit card terminal
How do I apply for a merchant facility?
Please call us on 0871 871 3888 and we will make an appointment for one of our team to come and meet with you to understand your business requirements and to demonstrate what solutions Handepay may be able to provide you with.
If you like what you hear then we will complete an application form with you, explain what the next steps are then assist you with every aspect of the set up process
Do I have to complete loads of paperwork?
No – one of our team will complete all the paperwork for you
How long will it take to process my application?
In most cases, your Handepay facility will be up and running 2–3 weeks after we received your signed application and supporting documentation. This is subject to satisfactory completion of Streamline’s risk assessment procedures
For any additional questions you may have then please call Handepay on 0871 871 3888
