Written by Lucas Pistilli Reviewed by Ruairi Shirlow Updated on 14 December 2022 On this page What is takepayments? How much does takepayments cost? takepayments' pros and cons takeypayments’ key features explained What kind of business is takepayments best for? How does takepayments compare to its competitors? What are takepayments' features and benefits? Our methodology In a nutshell... takepayments review FAQs Expand All providers have been reviewed and tested by our Research team. By requesting a quote, we can match you with a potential supplier, and we may earn a small commission for this referral takepayments may start with a lowercase but its offerings can capitalise your business. It’s the best contract merchant account we came across in our research, topping our best card machines ranking with a stellar 4.8/5 score.This result reflects its various reporting tools, including real time card processing and inventory tracking, as well as its solid customer score. These features are key to help your business grow and therefore expand revenue – important goals for those fighting the rising costs of doing business in 2023.If you’re still unconvinced, just give our free quote tool a try. It allows you to get bespoke quotes from our trusted providers for you to compare. However, if takepayments still appeals to you, read our rundown below to know more about what it can do. Swipe right to see more 0 out of 0 backward forward Score 4.8 Best For Features Monthly Fee From £20 + VAT Transaction fee Bespoke Key Features Lots of hardware choicesEnhanced securityEight reporting toolsSupport 170 currencies Fund transfer time Next day What is takepayments?You can probably guess by its name that this UK-based merchant account provider allows you to take payments. As with all merchant accounts, its main purpose is to serve as a buffer account for the money you charge, while it’s being transferred from the bank accounts of your customers to yours. It also provides other services, such as card machine (also called PDQ machines) leases, POS systems, and online payment gateways. Face-to-Face Online Telephone Orders Unsure How much does takepayments cost?takepayments’ pricing is bespoke, so you’ll need to request a quote to know your exact PDQ machine costs and software charges.takepayments’ contract length is 18 months. This is longer than Dojo’s six months and the same Worldpay’s 18 months. Unlike Barclaycard, it doesn’t offer a pay-as-you-go scheme.If you're wondering how to end a card machine contract in case things don't go as planned, it's worth noting that takepayments charge an early termination administration charge of £40 plus a non-usage fee of £30 for every month left in your agreement, should you wish to exit it early.That said, takepayments boasts a 4.1/5 score for price in our research, making it the runner-up in this category. Your actual fee will be stated in your quote, but it usually isn't higher than 2.29%.takepayments also beats Retail Merchant Services for online transaction fees, with the former charging 10p per online transaction, while the latter charges 0.79% plus 10p. The provider even waives that charge for your first 400 online transactions. Conveniently, unlike Barclaycard, takepayments doesn’t charge setup fees.The thorn in takepayment’s side is its account fee. Like the transaction fee, it varies, but its starting price of £20 + VAT per month is one of the highest we’ve seen in our research. While it’s cheaper than Dojo’s £24.95 + VAT per month, it’s pricier than Worldpay’s (£9.95 + VAT per month) and that of Retail Merchant Services (£10 + VAT per month).takepayments offers good value for money due to its wide reporting and multi-currency support, especially if you own a medium-sized business that can benefit from these features. Startup owners who are just looking to begin taking payments will be better served by mobile merchant accounts such as Zettle and Square, this is because they don’t incur fixed costs.If you’d like to know for sure which company is the right match for you, the best way is to compare quotes. To do that, fill in our free quote tool and you’ll be comparing quotes from several providers in no time! takepayments' pros and cons Pros Lots of hardware choices Enhanced security Cons No invoicing tool Transfer funds could be faster ✔️ Pro: Lots of hardware choicestakepayments offers four types of card readers: countertop, portable, mobile, and the exclusive takepaymentsplus. This variety means it’s got a high chance of fitting your businesses’ needs in terms of mobility and connectivity. Both of takepayments’ mobile options, which includes Ingenico’s IWL251 and the M3500 3G models, and the takepaymentplus reader come with their own data. This makes the provider worth considering if you’re a mobile business owner.✔️ Pro: Enhanced securitytakepayments is Payment Card Industry (PCI) compliant, which means it takes rigorous steps to secure card data. Its compliance process involves a self-assessment that includes up to 300 questions – but the provider offers guidance throughout. Also, like Retail Merchant Services, takepayments supports 3D secure authentication to prevent fraud and it runs credit checks on new merchants.❌ Con: No invoicing tooltakepayments’ main weakness is its lack of an invoicing tool. Therefore, it doesn’t provide you with a system for you to create and send personalised invoices to your customers. While it’s not a staple of the traditional merchant account market, this feature is consistently mentioned as important in our audience research. Of takepayments’ direct competitors, only Barclaycard offers this, albeit through a third-party integration. However, this is commonly offered in mobile merchant accounts, such as SumUp and Stripe. Compare Quotes From Leading Merchant Account Providers and Save Do you already accept card payments at your business? Yes No It takes just 30 seconds... takeypayments’ key features explainedReporting toolstakepayments offers the most reporting tools among all the contract payment taking systems we looked into. This sees it score a perfect 5/5 for features, topping this category in our research. It packs eight reporting tools, which include accounting detailing, SMS/email receipt logging and product customisation. It also allows for inventory tracking, as well as employee sales and cash received reporting. In comparison, this is way more than Barclaycard and Dojo, which only offer three and two, respectively. Unsurprisingly, in our analysis, the former scores 3.9/5 and the latter, a low 2.2/5.Payment methods and currenciesBecause of its various payment methods, takepayments also tops our market analysis when it comes to taking payments. Our researchers gave it a glowing score of 5/5 for this category. Beyond the good old card machine, takepayments can process transactions via checkout links and via telephone order through its virtual terminal. This puts it on par with Worldpay and Retail Merchant Services (both of which also receive 5/5 scores in our analysis), but takepayments beats them in multi currency support. It accepts a staggering 170 currencies – more than any other merchant account we looked into (traditional or mobile). This means it accepts 50 more currencies than Worldpay and 70 more than Retail Merchant Services.EPOS extensionUnlike Worldpay and Dojo, takepayments offers hardware that transforms it into a EPOS system. The pros of an EPOS systems, especially for restaurateurs, include the ability to allow for bookings and time keeping, though there’s also a version for retailers.Monthly costs for the tablet-sized tPOS counter are £45 + VAT for retailers and £55 + VAT for hospitality businesses, while the ones for the dual-screen tPOS complete are £55 + VAT for retailers and £65 + VAT for hospitality businesses. Both options also entail a £250 + VAT setup fee. In comparison, Barclaycard’s POS hardware (Smartpay Touch) costs way less: £29 + VAT per month and no setup fee. Even cheaper are mobile merchant accounts like Square and Zettle, which offer their EPOS systems at no extra cost.For online business owners, takepayment packs a virtual terminal, which allows you to sell online. This convenient feature helped it land a spot in our best payment gateway providers ranking. What kind of business is takepayments best for?takepayments is best for medium-sized businesses that can fully use (and make the most out of) its accounting detailing and product customisation. Its employee sales tracking tool is also a helpful feature for such companies, which are likely to have various employees.If you own a business this size and deal with substantial sales volume, all the better. This means that takepayments’ high account fee – which starts at £20 + VAT – is unlikely to break your bank, but you’ll still be able to benefit from its low transaction fees, effectively offsetting the fixed costs over time.However, if you own a startup or a small business, you’re better off with cheaper options. If you accept account fees in order to get cheaper transaction fees, then Retail Merchant Services is worth considering. Its account fee starts at £10 + VAT and its transaction fees vary between 0.4% and 0.8%. Otherwise, mobile merchant accounts such as Revolut and Stripe are good fits. They forego account fees but bite more off transactions: the former charges 0.8% + 2p for in-person payments and the latter charges 1.4% + 20p for those. Compare Quotes From Leading Merchant Account Providers and Save Do you already accept card payments at your business? Yes No It takes just 30 seconds... How does takepayments compare to its competitors? Swipe right to see more 0 out of 0 backward forward Score 4.8 Score 4.7 Score 4.7 Score 4.3 Score 3.0 Best For Features Best For Low transaction fees on card payments Best For Integrations Best For Scalability Best For Flexible contracts Monthly Fee From £20 + VAT Monthly Fee From £10 + VAT Monthly Fee From £9.95 + VAT Monthly Fee From £24.95 + VAT Monthly Fee Face to face: From £15 – £29Online: £20 – £75 Transaction fee Bespoke Transaction fee 0.4% debit cards0.8% credit cards0.79% + 10p online Transaction fee Between 0.75% and 2.75% (based on quote) Transaction fee 1.4% credit & debit cards Transaction fee 1.60% or bespoke Key Features Lots of hardware choicesEnhanced securityEight reporting toolsSupport 170 currencies Key Features Real-time data insights100 currenciesNegotiable fees and custom rates Key Features 24/7 phone supportFastest payout time in our research100 third-party integrationsSupport 120 currencies Key Features Simple compliance procedureSupport available via phone and live chatTwo reporting tools Key Features Available in a pay-as-you-go basisReporting appSupports 96 currencies Pricetakepayments has bespoke transaction fees and scores 4.1/5 in price in our research.On the other hand, takepayments has one of highest base account fees we came across in our merchant account comparison. At £20 + VAT, it’s pricier than Worldpay’s (£9.95 + VAT per month) and Retail Merchant Services’ (£10 + VAT per month), but cheaper than Dojo’s (£24.95 + VAT per month).Bear in mind that all of takepayments’ prices are bespoke, so what you’d pay for its service will be stated in your quote.FeaturesScoring a 5/5 for features in our in-depth research, takepayments also comes out on top in this category – and that’s no mean feat. It offers eight helpful reporting tools, which is two more than Retail Merchant Services and four more than Worldpay.takepayments packs 16 third-party integrations, which is more than Dojo, Retail Merchant Services, and Barclaycard (all of which only offer one), but way less than Worldpay, which offers 100. More integrations means you can run several aspects of your business in sync.takepayments is also the champion of multi-currency support, accepting payments in 170 currencies (!), beating Worldpay’s 120 and Retail Merchant Services’ 100. This particularly suits international businesses, like online retailers. Does takepayments have good customer reviews?takepayments has a stellar review track record and it’s no wonder it topped the customer score category in our research with a 4.4/5.takepayments’ customer support was particularly showered with praise, with many reviews naming and complimenting its support agents. Customer review I spoke with Heather Wilson regarding setting up the new takepayments terminal and she couldn’t have been more helpful. She had excellent communication skills and made the whole process very smooth easy. She is a credit to the company and I can’t praise her enough for her patience and help and knowledge. (sic) Manjit Dhaliwal, takepayments user - Source: Trustpilot However, takepayments’ hardware woes and contract terms were harshly criticised. Customer review I have been with takepayments for 3 years, there (their?) mobile card readers never have a good enough mobile signal, and you are left having to turn the machine off and on to try and get it to connect to a network. Whenever you complain they will tell you that they have a new and improved device that will work. Rubbish it won't, you are just stuck with another 12-month contract you can't leave!! (sic) Matthew Richards, takepayments user - Source: Trustpilot To the above review, a customer service representative replied asking for more information in order to help sort the situation. Our methodologyTo give a rundown on takepayments, we looked at five key areas during our in-depth research: price, taking payments, features, customer support, and customer score. We also looked at four of its direct competitors to see how takepayments compares with the wider market. We then consolidated the data into the scores we discuss throughout the article.takepayments is the best contract payment taking system in our research, with an amazing 4.8/5 score. Driving the point home, it tops three of the five categories we analysed: taking payments, features, and customer score.In the first, we looked at the different ways the providers accept payments and scored them based on how many they packed. In the second, we analysed their reporting tools, third-party integrations and multi-currency support – the more they had, the higher the score. And in the latter, we amalgamated the scores the providers received in several online review aggregators to produce an average. takepayments’ performance in them allows us to reassure you of the quality of its service. In a nutshell... takepayments is a reliable choice that can do a lot for you, especially if you own a medium-sized business. takepayments also generates numerous reports, such as inventory and employee sales tracking, and supports 170 currencies. These are valuable features that can help you better manage your business and guide your scaling plans.These features, combined with solid customer support and low base transaction fee, makes takepayments the best contract payment taking system. Unsurprisingly, it scores a whopping 4.8/5 in our independent research.However, if you’re after an invoicing tool, then mobile payment taking systems, such as Square and Zettle, would be better suited to your business. Also, if you need a really fast fund transfer, Worldpay is better equipped to serve you.If you’re still unsure about the right merchant account for your business, use our quick and free comparison tool. We’ll match you with the providers that are best suited to meet your needs, and they’ll be in touch with tailored, obligation-free quotes! takepayments review FAQs Is takepayments secure? Yes, takepayments is secure. The provider is PCI compliant, which means they take rigorous steps to secure card data. It also supports 3D secure authentication to prevent fraud. That said, takepayments is not PCI certified – a higher standard which means that the provider has their security protocols audited. If that’s what you’re looking for, Stripe will serve you better. How does takepayments work? takepayments works as a buffer account for the money you charge while it’s being transferred from your customers’ banks to yours. It also offers its card readers for rent so you’re able to take in-person payments. How do I cancel my contract with takepayments? To cancel your contract with takepayments, you must communicate this intention in writing and, if need be, pay any early termination fees. These are: a) a £40 administration charge and b) a non-use charge, which amount to £30 + VAT per remaining month in the contract. Our site is reader-supported. Some featured providers are our partners, so we may earn a commission if you make a purchase through our site. This is at no extra cost to our readers, and this doesn’t affect the independence of our reviews. Whether or not we have a partnership with a company does not affect our rating and review of the service. Written by: Lucas Pistilli Business Services Expert Lucas is a Brazilian-born journalist and Expert Market’s go-to writer for all things EPOS systems, merchant accounts, and franking machines. Having covered business, politics and technology for many years, he’s driven by his passion for the written word and his goal to help people make well-informed decisions. Reviewed by: Ruairi Shirlow Business Services Researcher Ruairi uses his 3+ years of research experience to uncover insights which can help Expert Market provide the best business solutions for their users. He has done this by meeting with business owners to find out what is important to them and what challenges they face on a daily basis. Ruairi specialises in tools that can be used to grow your business and has done research for a wide range of categories on Expert Market, such as EPOS, Website Builders, and Merchant Accounts.