Worldpay has captured a considerable percentage of market share, attaining the status of top acquirer with acceptance in 146 countries, spanning 135 currencies in more than 220 markets. Worldpay processes more than 130 million transactions on a daily basis, supporting in excess of one million merchants across the globe. There is a Worldpay alternative worthy of your consideration and your business. Here’s a quick look at Worldpay’s limitations, how to select a Worldpay alternative and guidance for the transition to a new payment processing solutions specialist.
Understanding the Limitations of Worldpay
Worldpay is worthy of reverence yet it is fallible. Take a deep dive into Worldpay and you’ll agree this payment processor for businesses is significantly flawed. Moreover, those who perform their due diligence and analyze Worldpay competitors quickly understand other payment processors are just as good or even better than Worldpay.
From higher fees for payment processing that impact the bottom line to pricing structures that are unnecessarily convoluted and beyond, Worldpay has more than its fair share of problems. Worldpay critics are also justified in criticizing the payment processor for its rigidity.
Reach out to Worldpay customer service to get a sense as to whether the company is willing to tailor its payment processing service to your unique business and you’ll find there is little wiggle room: what Worldpay advertises for payment processing is what businesses are provided and no more. The status quo won’t suffice as no two businesses are the same. Your retail store or other enterprise deserves better.
Your business needs and deserves flexibility, suitable customization and service that meets your unique requirements. Invest some time researching alternatives to Worldpay and you’ll find there is at least one competing service on the market that provides the tailored service your business needs.
Key Considerations for Choosing an Alternative
Take your time when considering Worldpay alternatives. Click through search engine page results (SERPs) and you’ll find there are competing payment processing services that are better for your unique business’s needs. Whether you have nuanced requirements for payment processing, specific aims for payments, a high transaction volume or other idiosyncratic standards, a Worldpay alternative is available.
Even your business’s unique needs in terms of payment processing security can be better addressed by a Worldpay alternative. Moreover, if you conduct international business, recognize the fact that international payment service is central to your company’s success and choose a Worldpay alternative appropriately.
Evaluating Pricing Models
When in doubt, favor the Worldpay alternative that offers comparable or superior service and options at a lower price. The bottom line is Worldpay’s market share has made its pricing inflexible and unjustifiably high. Instead of letting Worldpay rest on its laurels and simply assuming it is the best in the industry, take a close look at competitors’ pricing structures.
Do your due diligence and you’ll be surprised at what you find. Alternative payment processors have the potential to be cheaper yet even those with similar pricing to Worldpay might be superior in other capacities.
Favor a payment processing service that offers transparent pricing. Delve into the details of the payment structures and you just might find some have costly hidden fees while others have no hidden fees. What matters most is that you keep an open mind and consider Worldpay alternatives.
Examining Integration Options
The integration of your payment processing service into your operations largely dictates its ease of use and efficacy. Keep in mind, your team’s time is worth money. A service that doesn’t seamlessly integrate into your system will inevitably cost you money in the form of time spent troubleshooting.
Center your attention on the quality of the user experience design. Read through online reviews to get a sense of whether the payment processing service is compatible with your current system. Look closely at Worldpay alternatives and it won’t take long to find one with easy integration and superior availability of developer resources.
Security and Compliance Considerations
There is nothing more important than security. A compromised system will jeopardize your retail store as breaches or data exposure breach the customer rapport you’ve worked so hard to build. Even if a Worldpay alternative is slightly more expensive, it is worth considering if its security is more formidable.
Zero in on Worldpay alternatives that provide the industry’s best security features including PCI compliance and advanced fraud protection. PCI compliance means adherence to the data security standard (DSS) of the Payment Card Industry. Such requirements were set to guarantee businesses that process, hold or send payment-related information provide a fully secure environment. The PCI DSS has been in effect for nearly two decades.
PCI compliance guarantees all credit card and debit card payments are safeguarded against fraud and data theft. Data theft prevention is possible through encryption. Prioritize data encryption when selecting a payment processing service and you’ll establish the all-important customer trust in the processing of payments.
Customer Experience and Support
Think back to the last time your retail store had a problem with your current or previous payment processor. Such problems are rectified by customer support specialists. Moreover, the actual processing of payments is characterized by the user experience design with the checkout process being particularly important.
Do your homework to get a sense of whether the Worldpay alternative you are considering offers sufficient channels for support. Read through the online review directories and even social media pages to find out if the payment processor you have in mind is responsive.
If you are still on the fence as to whether a specific Worldpay alternative is superior, let the additional features be the tiebreaker. Be proactive, ask Worldpay alternatives about their respective extra features and take notes for comparison purposes.
Examples of the most important additional features include:
- Optimization for mobile devices of all types
- Subscription management options
- Your choice of billing structure
As an example, plenty of businesses favor recurring billing for maximum efficiency.
Making the Switch
Cutting the cord on Worldpay is easier than most assume. Contact Worldpay customer service, communicate your decision to switch to a competitor and ask what you can do to facilitate and expedite the transition.
Though migrating to a new payment processor has the potential to present stumbling blocks such as difficulties in changing over the customer payment user experience without interruption, your new payment processing provider will ameliorate the transition.
Choose Rain Payments as Your Worldpay Alternative
The time has come to explore options aside from Worldpay. Evaluate potential alternatives and select the one that best suits your retail store’s specific needs. Focus on the following when making a decision:
- Flexibility
- Customization for your enterprise
- Customer service
- Rate and pricing structure
Rain Payments has emerged as the top Worldpay alternative. Pivot away from Worldpay or another payment processor, choose Rain Payments and you’ll quickly agree our service makes it easier for your retail store to smoothly process payments while preserving your bottom line.Contact us today to find out more about why retail stores are choosing Rain Payments as a Worldpay alternative. You can reach our payment processing professionals at 385-462-0922 or by email at sales@rainpos.com.