To accept card payments you need an acquiring account and a terminal certified to it. One account covers debit, credit and contactless, and every terminal in this index takes all three. The choice is not between debit and credit acceptance but between an app based provider that opens in days and a traditional acquirer that underwrites you first.
The two routes, and how long each takes
App based providers open an account after identity checks, post a reader and have you trading within days, on a published rate and no minimum term. Traditional acquirers underwrite your business, issue a merchant ID, install or post a terminal and quote a bespoke rate against a term. The second is slower and usually cheaper once your volume is large enough to be worth quoting for.
Debit and credit are one decision
There is no separate account or machine for debit cards. What differs is the underlying cost: UK interchange is capped lower on consumer debit than on consumer credit, and most providers blend the two. If your customers pay overwhelmingly by debit card, a provider that prices the categories separately can be materially cheaper than a blended rate.
What to have ready before you apply
Identity documents, business details, a settlement account, your annual card turnover and your average transaction value. Traditional acquirers will also want your merchant category. Having those to hand turns a two week back and forth into a single conversation, and lets you ask each provider the same question in the same terms.
Questions people ask about accept card payments
What do I need to accept card payments?
An acquiring account, a certified terminal or a phone that supports tap to pay, and somewhere for the money to settle. Identity checks apply in all cases and underwriting applies with traditional acquirers.
Can I accept credit card payments without a merchant account?
Yes, through an aggregated provider that puts you under its own acquiring. That is how most of the app based providers in this index work, and it is why they can open an account in days.
Does accepting American Express cost extra?
Usually. Most providers here price American Express above their headline rate, with Lopay adding a stated percentage point and myPOS printing a separate row. Zettle is the exception on this shelf, printing one flat rate for major cards including American Express.