Your card statement is more than just rates!

22% Swing!

Many businesses have in recent years turned more towards taking card payments. Since Covid-19 raised its head there has been a 22% swing from Cash to Card [1] Reports at the end of 2019 commissioned by Visa and Mastercard already put the use of card payments at over 70%. There is probably no surprise that there has been a shift, indeed many readers will know from their own experience habits have changed through peace of mind alone.

Who knows the answer?

Since mid-March, when our internal directive became work from home where possible, I have spent more time helping prospective clients gain access to their online merchant account (retailers are called merchants) so that they can download the monthly statement. This has been caused by the trend with Acquirers (the institutions that move the money) to move as much activity online as possible and dispense with paper statements being posted out at the end of the month. Larger merchants don’t have an issue with this, because there is someone in a dedicated role to look after this, but the smaller merchants it falls on the business owner, their spouse or their outsourced bookkeeper.

You need to have a look!

Whoever it is at your organisation looks after the money needs to look at your monthly merchant statement. With card use increasing, so are your business costs. Fees will be proportional to your card takings, but what about your compliance? Are you paying for telephone support and not using it? Are you paying for access to your online account AND not using it? Are you paying for paper statements and not opening the envelopes!? What is your terminal rental charge? What is you integration charge? What are you charged for over the phone payments? I really could go on…..but my message is, unless you look at your monthly statement you do not know the answers and more importantly you do not know how much is going to be taken until AFTER the Direct Debit has already left your account.

You are not alone

We can’t always save money, but it is rare, I will as a minimum look to share my knowledge and understanding so you can access the business information so that you are better informed about the decisions you are making with regards to payment services. Feel free to contact me and start to understand your data.

Source: [1] Paymentsense research and POS Provider data Jun-Jul 2020

Owner of a closed business?

Owners of a closed business because of lockdown restrictions are finding it tough right now. This goes without saying, but if this is you, then there are people out there that can help.

I was called this week by one of my clients who runs a Café in Hull but the practicalities of operating solely as a takeaway just don’t add up. The client wanted help as he has monthly outgoings that collectively are daunting but while I can only help with our part of his problem it has helped ease the burden a little, he now has the confidence to talk to his other suppliers and providers to help him through.

The key part of what I recommended was actually to identify what services from us he actually needed. At Paymentsense we have a customer App which give visibility on transactions, transfers, billing and on Dojo you can also complete the compliance in a matter of minutes.


This means the client no longer has to pay for the external reporting service, paper billing, phone support for compliance or benefits program. These were all part of his plan which were of use a couple of years ago when he first joined, but with the advent of our App and the hunkering down because of necessity we eased a bit of that pressure and reduced most of his outgoings to us.

So whats the “takeaway” then?

Whether you have a card payments provider or other service provider for that matter. You have the time to sit down and go through the finer details of what you are paying for, or being fined for in cases with non-compliance, and get help to resolve it. My field is card payments so thats where I can help. Get a hold of your bill, if it comes on paper immediately see if your being charged for paper statements it’s usually £3.50+/month. Login to your providers online account, there are details available to tell you what you need to create an account if you don’t have one. If you do have an online account check they are not charging you it can be £5.00+/month. If you can’t find out how to login in message me directly I have access to the information on the majority of the acquirers in the UK.

Compliance – If you are not compliant you are likely to be charged £20+/month, if you get assistance from your acquirer you could be paying £25/month and if you have both these fees definitely get in touch!

While you are looking at the past bills though this is the time to review your rates. Rates for many of the large acquirers have consistently been going up in recent years. They have been advising customers as they are obliged to do, but, guess what? People don’t open envelopes, they don’t read emails! Why? because they’re too busy. IF you are closed, you are more likely to have time, IF you are open then your bills are likely to have shot through the roof with the additional card turnover, so make time.

If I can be of service please drop me an email on, or complete the enquiry form. If you can do it yourself great but please just do it because its your money!