WorldPay Account
Why do I need this?
You will need a separate WorldPay account in order to collect card payments for your TecknaShop sales. If you will
be running your TecknaShop in Brochure Mode there is no need for a WorldPay Account.
WorldPay
For millions of people around the world, WorldPay is the way to pay - trusted and secure.
An important part of The Royal Bank of Scotland Group, the 5th biggest banking group in the world,
WorldPay payment solutions are trusted by thousands of businesses, big and small.
WorldPay customers accept payments over the internet, by phone, fax and mail. They accept Visa, MasterCard,
Diners, American Express, JCB and all the major credit cards. Not forgetting debit cards and local payment
schemes like Switch, Laser, Electron and more. Bank transfers (such as the German ELV system),
instalments, standing-order and direct-debit style payments. All in their customer's currency and language -
wherever they are in the world.
WorldPay is the only way to accept such a universal range of payments through one merchant account,
one payment processing system, 24/7.
Internet Merchant Account
In order to accept any type of card payment, whether online of offline, you will need a merchant account.
If your sales will take place online on the internet you will need
an internet merchant account.
Internet merchant accounts are issued by financial institutions, typically banks,
and in the UK also by WorldPay. If you don't have an internet merchant account from a UK acquiring bank, WorldPay will
issue, if approved, your internet merchant account at no extra cost. Please note that an internet merchant account
issued by WorldPay can only be used with the WorldPay payment system.
WorldDirect and BankDirect
Your WorldPay account will be one of two types, WorldDirect or BankDirect. Different charges and
settlement periods apply depending on the type of account.
The WorldDirect account applies to customers who do not have an internet merchant account from a UK acquiring
bank.
The BankDirect account applies to customer who already have an internet merchant account from a UK acquiring
bank.
| Account Type* |
Setup Fee |
Annual Fee** |
Settlement Period |
Transaction Charge |
|
|
|
|
UK Debit |
All Other |
| WorldDirect |
£200 |
£360 |
Weekly, 4 weeks in arrears |
50p |
4.5% |
| BankDirect |
£200 |
£360 |
Weekly. |
25p |
1.6% |
Note: All costs exclude VAT @ 17.5%
* Account type required is dependent on whether merchant has online merchant status from a UK
acquiring bank, if so choose BankDirect. If not choose WorldDirect.
** £180 will be charged for the initial 6 months term at the time of application,
then £30 per month on an ongoing basis from month 7.
Read more about WorldPay and other services from Teckna on our dedicated WorldPay site,
www.tecknapay.co.uk
|
