Worldpay

What is Worldpay

Worldpay is a global payment processing company that provides technology and services for merchants to accept payments. Its main purpose is to enable businesses of all sizes, from small local shops to large international corporations, to take payments from customers through various methods. This includes credit and debit cards, online payments, and point-of-sale (POS) systems. Worldpay handles the complex process of authorizing and settling transactions between the customer's bank and the merchant's bank. The company has a long history and was previously part of Fidelity National Information Services (FIS). It now operates as an independent entity, focusing on providing secure and reliable payment solutions across many countries and industries.

Worldpay Features

Worldpay offers a complete set of features for payment processing. These features help businesses manage their sales and revenue effectively.

• Online Payments: Allows businesses to accept payments on their websites and mobile apps. This includes a secure payment gateway that integrates with e-commerce platforms, providing a safe checkout experience for customers.
• In-Person Payments: Provides physical card machines and POS systems for retail stores, restaurants, and other physical businesses. These terminals support chip cards, contactless payments (NFC), and mobile wallets like Apple Pay and Google Pay.
• Omnichannel Solutions: Connects online and in-person payment systems. This gives a single view of customer transactions, which is useful for businesses with both a physical and online presence.
• Global Payment Acceptance: Supports processing in many currencies and countries. It allows businesses to sell to international customers by accepting local payment methods.
• Security and Fraud Prevention: Includes advanced tools to protect against fraudulent transactions. This helps reduce chargebacks and secure sensitive customer data, complying with standards like PCI DSS.
• Reporting and Analytics: Offers a merchant portal where businesses can view transaction history, track sales trends, and generate reports. This data helps in making informed business decisions.
• Recurring Billing and Subscriptions: Provides functionality for businesses that operate on a subscription model. It automates the process of charging customers on a regular schedule.
• Embedded Payments for Platforms: Allows software companies (ISVs) to integrate Worldpay's payment processing directly into their own applications, offering a seamless experience to their users.

Worldpay Pricing Plans

Worldpay's pricing is typically customized for each business. They do not have standard public pricing tiers listed on their website. Instead, the cost depends on factors like business size, industry, transaction volume, and the specific services needed. Businesses must contact the Worldpay sales team to get a custom quote.

There are generally two main pricing models offered:

• For Small to Medium Businesses (SMBs): Often a simplified pricing structure, which might be a flat rate per transaction or a tiered model. This plan includes the necessary tools to start accepting payments online or in-person.
• For Enterprise Businesses: This is a more complex, custom-quoted plan. It often uses an Interchange-plus pricing model, which is more transparent for high-volume businesses. Enterprise plans include advanced features, dedicated support, and solutions tailored to large-scale operations.

Worldpay Free Plan

Worldpay does not offer a free plan for its payment processing services. As a merchant service provider, its revenue comes from fees charged on transactions. There is also no standard free trial period because setting up an account involves an application and underwriting process. To understand the costs and services, businesses need to speak with a sales representative to receive a proposal tailored to their specific needs.

How to use Worldpay

Getting started with Worldpay involves a few key steps to set up your merchant account and begin processing payments.

1. Contact Sales: The first step is to contact Worldpay to discuss your business. You will need to provide details about your industry, sales volume, and how you plan to accept payments (online, in-store, etc.).
2. Receive a Quote: Based on your information, Worldpay will provide a custom pricing proposal and contract terms.
3. Apply for a Merchant Account: You will need to complete an application form and go through an underwriting process. This involves verifying your business details and assessing risk.
4. Set Up Your System: Once approved, you will set up your payment system. For online stores, this means integrating the Worldpay payment gateway with your website, often using a plugin for platforms like Shopify or WooCommerce. For physical stores, this involves receiving and setting up your card terminals.
5. Start Processing Payments: After setup and testing, you can begin accepting payments from customers.
6. Manage Your Account: You can log in to the Worldpay merchant portal to view your transactions, manage your account, and access reports.

Pros and Cons of Worldpay

Pros:

• Global Reach: It is a strong choice for businesses that operate internationally, with support for numerous currencies and payment methods.
• High Reliability: As a large and established provider, it offers a stable and secure platform capable of handling high transaction volumes.
• Comprehensive Solutions: Worldpay provides a wide range of services, including online, in-person, and omnichannel payments, suiting many business types.
• Scalability: The platform can grow with a business, from a small startup to a large enterprise.

Cons:

• Complex Pricing: The lack of transparent pricing can make it difficult to compare costs. Contracts can be long and may include early termination fees.
• Customer Support: Some smaller businesses report that customer service can be slow or difficult to reach.
• Not Ideal for Very Small Businesses: Simpler, flat-rate providers like Square or Stripe might be more cost-effective and easier to set up for businesses with very low transaction volumes.

Worldpay integrations

Worldpay integrates with a wide range of business software and platforms to create a seamless workflow. These integrations help connect payment processing with other essential business operations.

• E-commerce Platforms: Worldpay offers plugins and extensions for major platforms like Shopify, BigCommerce, WooCommerce, and Adobe Commerce (Magento). This allows for easy integration of the Worldpay payment gateway into an online store's checkout process.
• POS Systems: It integrates with various Point of Sale systems, enabling unified payment acceptance for retail and hospitality businesses.
• Accounting Software: Connections with software like QuickBooks and Xero help automate financial reconciliation by syncing sales data directly into the accounting ledger.
• CRM Systems: Integrations with CRM platforms such as Salesforce can help businesses manage customer payments alongside their sales and service interactions.

Worldpay Alternatives

• Stripe: A popular alternative, especially for online businesses and developers. Stripe is known for its powerful APIs, transparent flat-rate pricing, and ease of integration.
• PayPal: A globally recognized payment platform that is very easy for small businesses to set up. It offers simple payment buttons, invoicing, and a trusted checkout experience for customers.
• Adyen: A direct competitor to Worldpay for large, global enterprises. Adyen provides a single platform for online, in-store, and mobile payments with a focus on data and omnichannel experiences.
• Square: An excellent choice for small businesses, particularly those with physical locations. Square is known for its simple hardware, transparent pricing, and user-friendly POS software.

Worldpay API

Yes, Worldpay provides a comprehensive set of APIs for developers to integrate payment processing directly into their applications, websites, and software. The Worldpay Developer Portal contains detailed documentation, guides, and API references for their various products.

To get API keys, a developer or business must first have an active Worldpay merchant account. Once the account is approved and set up, API credentials can be generated from the merchant portal or by request. These keys are used to authenticate API requests and ensure secure communication.

Example API Request (Conceptual - Creating an Order):

{
  "transactionReference": "your-unique-transaction-id",
  "instruction": {
    "value": {
      "amount": 1000,
      "currency": "USD"
    },
    "paymentInstrument": {
      "type": "card/plain",
      "cardHolderName": "John Doe",
      "cardNumber": "1111222233334444",
      "cardExpiryDate": {
        "month": 12,
        "year": 2028
      },
      "cvc": "123"
    }
  }
}

Worldpay Affiliate program

Worldpay does not have a traditional affiliate program where individuals can sign up for a link and earn commissions. Instead, they offer structured Partner Programs for businesses and developers.

• Referral Partners: Businesses can refer their clients to Worldpay and earn a commission for successful sign-ups. This is common for web developers, business consultants, and marketing agencies.
• Integrated Software Vendor (ISV) Partners: Software companies can embed Worldpay's payment technology into their platforms. This creates a new revenue stream for the ISV through revenue sharing on the transactions processed through their software.
• Financial Institution Partners: Banks and other financial institutions can partner with Worldpay to offer merchant services to their business customers.

To join one of these programs, you typically need to contact their partnerships team through their website. They will discuss your business and determine the best partnership model for you.