The advent of digital payments has transformed the dynamics of doing business. For companies of all sizes, accepting digital payments is more than a convenience—it’s an essential aspect of service delivery. Two significant players in this digital payment ecosystem are Worldpay vs Authorize.net. This article will draw a comparison between these two payment processing giants, helping UK businesses to make an informed choice.
Worldpay vs Authorize.net
| Features/ Fees | Worldpay | Authorize.net |
|---|---|---|
| Setup Fee | £0 | £0 |
| Monthly Fee | Custom | £19 |
| Transaction Fee | Custom | 10p |
| International Fee | Varies by currency | 1.5% |
| PCI Compliance Fee | £0 | £0 |
| Chargeback Fee | £15 | £18 |
| Gateway Fee | Included in monthly cost | £19 |
| Contract Term | Monthly, Yearly, Multi-year | Monthly |
| Card Types Accepted | Most major cards | Most major cards |
| Mobile Payments | Yes | Yes |
| POS Payments | Yes | No |
| Online Payments | Yes | Yes |
| Invoice Payments | Yes | Yes |
| Virtual Terminal | Yes | Yes |
| Recurring Payments | Yes | Yes |
| Multi-currency Support | Yes | Limited |
| Customer Support | 24/7 | 24/7 |
| Live Chat Support | Yes | Limited (business hours) |
| Security | Level 1 PCI DSS Compliant | Level 1 PCI DSS Compliant |
| Fraud Prevention | RiskGuardian | Advanced Fraud Detection Suite |
| API Integration | Yes | Yes |
Note: The fees and features are subject to change, and the specific rates can vary depending on the nature and volume of your business. Always verify the current rates and features with the providers.
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Understanding the companies – Worldpay vs Authorize.net
Worldpay, headquartered in Cincinnati, Ohio, is one of the most extensive payment processors globally. Established in 1989, the company has since grown to process payments in more than 120 different currencies across 146 countries. Worldpay offers a comprehensive suite of services, including point-of-sale (POS) solutions, mobile payments, online payments, and integrated payments.
Authorize.net, on the other hand, has been providing payment gateway services since 1996. Based in American Fork, Utah, the company enables merchants to accept credit cards and electronic checks directly on their website from their customers. The company’s services are used by over 430,000 merchants worldwide.
Comparing the features
Pricing structures
Worldpay offers a custom pricing model based on your business’s nature and needs. You must contact their sales team to get a precise quote, which may be a barrier for some.
On the other hand, Authorize.net operates on a straightforward pricing model, charging a monthly gateway fee of £19 and a transaction fee of 10p. However, for businesses processing a high volume of transactions, this could add up.
Integration and compatibility
When it comes to compatibility with other systems, both platforms are well-supported.
Worldpay can integrate with over 300 business software and point-of-sale systems.
Similarly, Authorize.net has an extensive range of compatible software integrations and supports most leading shopping carts.
Customer support
Both Worldpay and Authorize.net offer 24/7 phone support to their customers. In addition, Worldpay provides live chat, and Authorize.net offers live chat during business hours.
However, Authorize.net has a slight edge with its extensive online knowledge base and community forum, which allows users to troubleshoot and find solutions independently.
Fraud prevention
Authorize.net uses Advanced Fraud Detection Suite (AFDS) to identify, manage, and prevent suspicious and fraudulent transactions. It provides customisable, rule-based filters and other value-adding tools for comprehensive fraud protection.
Worldpay, on the other hand, uses RiskGuardian, a robust fraud management tool that helps protect businesses from card fraud, chargebacks, and unnecessary refunds.
Security features
Worldpay is a Level 1 PCI DSS compliant service provider, the highest level of compliance. This ensures that the company adheres to strict security standards to keep customer payment data safe. Similarly, Authorize.net is also a Level 1 PCI DSS compliant service provider. It offers additional security features like IP filters and transaction key changes, adding an extra layer of protection.
Evaluating the suitability for UK businesses
While both Worldpay and Authorize.net offer robust payment processing solutions, your choice between them will depend on your business needs.
Worldpay might be a better fit for businesses looking for a comprehensive, custom-tailored solution. If you conduct a considerable amount of business overseas, Worldpay’s wide global reach and currency support could be beneficial.
However, Authorize.net could be a better fit for businesses that value transparent, simple pricing. It’s also a strong contender for businesses that require an advanced fraud detection system or if you require extensive self-help resources.
Conclusion – Worldpay vs Authorize.net
Choosing between Worldpay and Authorize.net involves careful evaluation of your business’s needs, budget, and long-term growth strategy.
Each provides secure and reliable payment processing services, but your specific needs and preferences will determine the best fit for your business.
By understanding the features, costs, and customer service levels of both providers, you can make an informed choice that supports your business’s continued growth and success.
FAQ
Both Worldpay and Authorize.net cater to a wide variety of businesses, including e-commerce, retail, mobile, and professional services businesses.
Yes, both Worldpay and Authorize.net support mobile payments.
Both Worldpay and Authorize.net are Level 1 PCI DSS compliant, offering high levels of transaction security.
Worldpay offers custom pricing based on business needs, whereas Authorize.net charges a monthly fee of £19 and a transaction fee of 10p.
Both Worldpay and Authorize.net offer 24/7 phone support, with Worldpay providing live chat support and Authorize.net offering live chat during business hours.
Worldpay uses RiskGuardian for fraud prevention, while Authorize.net employs the Advanced Fraud Detection Suite.
Both Worldpay and Authorize.net can process credit cards, debit cards, and electronic checks.
Yes, but Worldpay supports more international currencies than Authorize.net, making it potentially a better fit for businesses with a strong international presence.
Yes, both Worldpay and Authorize.net support invoice payments.
Both Worldpay and Authorize.net offer easy integrations with a wide range of business software systems.
Yes, both Worldpay and Authorize.net support recurring payments.
No, both Worldpay and Authorize.net do not charge a setup fee.
Worldpay charges £15 for chargebacks, while Authorize.net charges £18.
Worldpay offers POS solutions, while Authorize.net does not.
Yes, both Worldpay and Authorize.net can process payments in multiple currencies, although Worldpay supports a broader range of currencies.
Yes, both Worldpay and Authorize.net offer virtual terminals.
Worldpay offers monthly, yearly, and multi-year contract terms, while Authorize.net offers a monthly contract.
For Worldpay, the gateway fee is included in the monthly cost, while Authorize.net charges a separate gateway fee of £19.
Yes, both Worldpay and Authorize.net offer integrations with most leading shopping cart software.
Yes, both Worldpay and Authorize.net provide APIs for businesses that need custom integration.