| Business Payments |
takepayments does not publish a standard headline rate or monthly fee; quotes are tailored. Contracts run for 12 months, with settlement on the next working day. Hardware costs are not published. The firm is FCA authorised. Exit fees are not published.
takepayments offers tailored card machine pricing with a 12-month contract and next-working-day settlement, but does not publish standard fees.
KEY FACTS
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LAST REVIEWED 2026-09-06
Fees
takepayments does not publish a standard headline rate or monthly fee. Instead, pricing is tailored to each business based on factors such as transaction volume, average ticket size, and card type mix. The company states that it offers competitive rates, but specific figures are only provided after a quote. This approach is common among merchant acquirers, but it means that businesses cannot compare published rates upfront.
For context, the Interchange Fee Regulation (IFR) caps consumer debit card interchange at 0.2% and consumer credit at 0.3%. These caps apply to the interchange element, which is a component of the overall merchant service charge. takepayments' rates will include interchange plus scheme fees and acquirer margins, but the exact breakdown is not published.
Businesses should request a detailed quote that includes all fees, such as transaction fees, monthly fees, and any additional charges for services like chargebacks or PCI compliance. takepayments does not disclose whether it charges a separate monthly fee or if it is bundled into the transaction rate. As of the data fetch date of 5 September 2026, no standard fee schedule is available on the company's website.
Hardware
takepayments offers a range of card machines, including countertop, portable, and mobile devices. The cost of hardware is not published on the website; instead, it is typically included in a package or available on a rental basis. The company may offer free hardware with a long-term contract, but this is not confirmed in the available information.
Under the Payment Systems Regulator's (PSR) Specific Direction, which came into force in July 2023, the maximum initial term for POS terminal lease or rental contracts is 18 months. This means that any rental agreement for a card machine from takepayments cannot lock a business in for longer than 18 months initially. After that, the contract may roll over or be renegotiated.
Businesses should clarify whether hardware is provided on a sale, rental, or lease basis, and what the total cost of ownership is over the contract period. takepayments does not publish hardware prices, so it is essential to obtain a written quote that itemises hardware costs separately from processing fees. This transparency helps businesses compare offers from different providers.
Settlement
takepayments offers settlement on the next working day. This means that funds from card transactions are typically transferred to the merchant's business bank account within one business day after the transaction is processed. This is a standard settlement timeframe in the UK card acquiring market, though some providers offer faster settlement for a fee.
Next-working-day settlement is beneficial for cash flow, as it reduces the time between a sale and the funds being available. However, settlement times can be affected by weekends, bank holidays, and the time of day the transaction is processed. Transactions processed after a certain cutoff may be settled on the following business day.
It is important to note that settlement is not the same as the date the funds are available; some banks may take additional time to clear the funds into the merchant's account. takepayments does not publish any details on settlement cutoffs or potential delays. Merchants should confirm the exact settlement schedule in their contract and test the process with a small transaction before committing.
Contract terms
takepayments typically requires a 12-month contract for its card machine services. This is a common contract length in the industry, but it is shorter than the maximum 18-month term allowed for terminal rental contracts under the PSR's Specific Direction. The 12-month term provides a balance between commitment and flexibility for businesses.
During the initial term, early termination may incur exit fees, but takepayments does not publish the amount of these fees. After the initial 12 months, the contract may roll over on a monthly basis or be renewed for another fixed term. Businesses should review the auto-renewal terms carefully to avoid unexpected commitments.
The PSR's remedies, which came into force in July 2023, require providers to offer summary boxes, trigger messages, and online quotation tools to help businesses compare offers. takepayments must comply with these requirements, meaning that businesses should receive clear information about contract terms before signing. However, the specific exit fee structure is not publicly disclosed, so it is advisable to ask for a full schedule of charges before entering into an agreement.
Regulatory status
takepayments is authorised by the Financial Conduct Authority (FCA) under the Payment Services Regulations. Its FCA register number can be verified on the FCA website. As an authorised payment institution, takepayments must adhere to safeguarding requirements for client funds and comply with conduct standards.
The company is also subject to the oversight of the Payment Systems Regulator (PSR), which regulates the card acquiring market. The PSR's remedies, effective from July 2023, aim to increase transparency and competition. These include requirements for providers to publish summary boxes and offer online quotation tools, which help businesses compare fees and terms.
Consumers and businesses can complain to the Financial Ombudsman Service (FOS) if they are dissatisfied with takepayments' service. The FOS can award compensation up to a limit that is periodically reviewed; as of the data fetch date, the limit is not published in this brief. takepayments must be a member of the FOS, and its FCA authorisation ensures that it meets minimum standards of conduct and financial resilience.
Who it suits
takepayments is suited to small and medium-sized businesses that require a straightforward card payment solution with a 12-month contract. The next-working-day settlement is attractive for businesses that need quick access to funds. However, because pricing is not published, it may be less suitable for businesses that prefer transparent, upfront pricing.
Businesses that process a high volume of transactions may benefit from tailored rates, as takepayments can offer competitive pricing based on volume. Conversely, very small businesses or those with low transaction volumes might find that fixed monthly fees, if any, are not cost-effective. The lack of published hardware costs means that businesses must request a quote to understand the total cost.
Given the PSR's 18-month cap on terminal rental terms, takepayments' 12-month contract is within regulatory limits. This makes it a viable option for businesses that do not want to be tied in for too long. However, businesses should compare offers from multiple providers and use the PSR's online quotation tools to ensure they are getting a fair deal. takepayments may be a good fit for those who value a dedicated account manager and are willing to negotiate terms.
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Disclaimer. This guide is editorial information drawn from primary sources. It is not financial, legal or tax advice and does not recommend any provider. Figures are those published by the named sources on the review date and may change. Kael Tripton Ltd receives no commission, referral fee or lead payment from any provider named on this page. |
Frequently asked questions
Does takepayments publish fees?
No, takepayments does not publish a standard fee schedule. The company provides tailored quotes based on individual business needs. This means that headline rates, monthly fees, and hardware costs are not publicly available. Businesses must contact takepayments for a personalised quote to see the specific charges that would apply to their account. This approach is common in the industry but can make comparison difficult.
Contract length?
takepayments typically requires a 12-month contract for its card machine services. This is shorter than the maximum 18-month term allowed for terminal rental contracts under the Payment Systems Regulator's Specific Direction, which came into force in July 2023. After the initial 12 months, the contract may roll over on a monthly basis or be renewed. Businesses should check the auto-renewal terms and any exit fees before signing.
Settlement time?
takepayments offers settlement on the next working day. This means that funds from card transactions are typically transferred to the merchant's bank account within one business day. Settlement times can be affected by weekends and bank holidays. Transactions processed after a certain cutoff may be settled on the following business day. This is a standard settlement timeframe in the UK card acquiring market.
FCA status?
takepayments is authorised by the Financial Conduct Authority (FCA) under the Payment Services Regulations. Its FCA register number can be verified on the FCA website. As an authorised payment institution, it must comply with safeguarding requirements and conduct standards. It is also subject to the Payment Systems Regulator's oversight, and customers have access to the Financial Ombudsman Service for complaints.
Exit fees?
takepayments does not publish the amount of exit fees that may apply if a contract is terminated early. The existence and amount of such fees would be detailed in the contract terms. Under the PSR's remedies, providers must offer clear information, but specific exit fees are not publicly disclosed. Businesses should request a full schedule of charges before entering into an agreement to understand any potential costs.
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