Pros
- Supports an extensive range of payment methods and currencies
- Integrates with hundreds of POS systems
- Offers 24/7 phone support
Cons
- Lacks transparent pricing and plan details
Overview
Worldpay ranks among the largest payment processors worldwide and is the second-largest non-bank merchant acquirer in the U.S. Like any payment provider, Worldpay has its advantages and drawbacks. Whether you’re exploring Worldpay as an option or already using its services, this review offers in-depth insights you won’t easily find elsewhere.
Features and Services
OmniShield Assure
A security solution designed to safeguard businesses from data breaches and fraudulent transactions. It features point-to-point encryption for customer payment data and includes tools to help maintain PCI compliance.
Worldpay iQ
An analytics and reporting platform that provides insights into payment processing data, sales trends, and transaction history. The iQ Now mobile app, available for iOS and Android, also enables merchants to manage transaction disputes.
StoreCard
A gift card program that integrates with POS systems, offering online reporting and analytics. It allows businesses to set up digital promotions, automatic rewards, and virtual gift cards to enhance customer engagement.
Integrations
Worldpay supports integration with a wide range of POS systems, payment gateways, ERP solutions, and e-commerce platforms. While the company does not provide a full list of compatible technology partners on its website, some of the notable integrations include:
- Adobe Commerce (formerly Magento)
- Authorize.net
- BigCommerce
- Ingenico
- Oracle
- PayPal
- SwipeSimple
- National Cash Register Co. (NCR)
Plans and Pricing
Interchange Plus Pricing
We appreciate merchant service providers that offer interchange-plus pricing, as it provides businesses with the opportunity to secure lower processing rates. This pricing model is the most transparent and cost-effective, but negotiation with Worldpay is necessary to obtain the best terms.
Worldpay does not list its pricing online, as rates vary based on the individual merchant. Additionally, the company offers multiple pricing structures, including a tiered pricing model with “qualified” rates. However, this option is not recommended, as businesses rarely receive the lowest “qualified” rate and often end up paying higher fees in the “mid-qualified” and “non-qualified” tiers. For better transparency and cost-effectiveness, interchange-plus pricing is the preferred choice.
Other Fees
Like many credit card processors, Worldpay includes various additional fees that may not always be transparent to merchants. Many businesses are unaware of the specific charges they’re responsible for and which fees may be unnecessary or open to negotiation.
The SaferPayments Basic Fee is essentially Worldpay’s PCI compliance fee, rebranded with a more sophisticated name. However, if your business is already PCI compliant, this charge is unnecessary and can be removed entirely. can often be reduced or, in some cases, removed through negotiation.
The Processor Transaction Risk Fee is commonly associated with high-risk merchant accounts. However, even if your business falls into this category, you can still negotiate this fee. Merchants with a low chargeback risk should not be paying it at all.
The Processor Per Item Fee is a flat-rate charge applied per transaction, serving as a markup for Worldpay beyond the interchange rate. Fortunately, this fee is 100% negotiable and can often be reduced or removed.
The Network & Access Processor Fee is a misleading charge that Worldpay adds to merchant statements. While card networks do impose non-negotiable access fees as assessments (paid directly to Visa, Mastercard, Amex, or Discover), this specific fee is not from the card network—it’s an additional charge from Worldpay itself. Merchants can negotiate to reduce or eliminate this fee.
Terms and Limitations
Worldpay does not publicly disclose its contract terms for North American merchants. However, its UK website lists a pay-as-you-go plan, which may indicate a similar option for U.S. businesses.
Standard merchant contracts typically last three years, with automatic renewals and an early termination fee of up to $295. Additionally, merchants may face extra charges, including a $69 annual IRS/1099 reporting fee and a monthly PCI compliance fee between $15 and $25. Rates may also be subject to change if sales volumes fall outside predetermined thresholds.
Customer services
Unlike many competitors that restrict phone support to business hours or weekdays, Worldpay provides 24/7 phone support year-round. The company offers multiple dedicated support lines based on specific needs, including:
- E-commerce support
- Merchant activation assistance
- Technical support
- General customer service
This ensures that businesses can access the right team whenever assistance is needed.
Bottom Line
Worldpay provides payment processing solutions for both in-person and online transactions across various industries. It supports over 300 payment methods and 126 currencies, along with 24/7 phone support. However, the lack of transparency regarding pricing and plan details makes it challenging for businesses to compare Worldpay with other providers.
