In 2015, the world’s 3rd largest eCommerce market belonged to the UK. According to the latest UK governmental figures, the value of UK eCommerce sales was at 533 billion British pounds in the same year. The online retail sales in the UK were at 60 billion euros in 2016.
As for the B2B eCommerce sales via a website, they accounted for approximately 96.5 billion British pounds in 2015. eCommerce represented a 19% share of the total business turnover in the UK in 2015. As of 2015, nearly 80% of the UK Internet users did online shopping: this was the highest online shopping penetration rate in Europe.
Establishing an eCommerce Merchant Account
If you’re operating in the eCommerce industry, you need to set up a merchant account to accept debit/credit card payments. For this, you can turn to a reputable payment expert in the UK so to be able to get the most affordable merchant services UK. A true payment expert will provide free consultation, review contracts, as well as rates and fees so to help you find the right option for you.
Integration requirements are as important as fees and customer service, so the right payment expert will check each provider’s integration process to guarantee a smooth transition and onboarding process. A reputable payment expert will provide you with the most honest snapshot of the company at the time of writing so to ensure you’re getting the best deal.
Applying for an eCommerce Merchant Account
An eCommerce merchant account isn’t the only important thing: you should also apply for a payment gateway depending on the services you need. Choose a merchant account provider that’s compatible with your shopping cart software.
Merchant account providers may require a significant amount of business information before setting up your account. However, there are reputable payment processors that require the minimum of paperwork, and offer an application process that is simple and hassle free.
Different merchant account providers have different fee structures. You should calculate which structure is best for your needs. Some providers charge setup fees or monthly fees (usually 20 – 40 pounds per month), while others don’t charge them at all.
Author Bio: Electronic payments expert Taylor Cole is a passionate entrepreneur who enjoys to write, produce music, and travel. Best payment providers is the UK’s best affordable merchant services UK company, serving both traditional and high-risk merchants.