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WorldPay Brokers 2021 - Which Brokers Accept WorldPay?
WorldPay Group, (formerly RBS WorldPay) is a leading online payment platform. The company provides merchant services to a variety of customers from multinational corporations down to start-ups across 150 countries. Solutions include e-commerce payments, merchant accounts and card reader machines, however, our review will focus on its use in day trading. Specifically, we’ll look at the login process, deposit and withdrawal limits, and any fees for traders making payments with WorldPay.
WorldPay was founded in 1997 under the name ‘Streamline’ as a multi-currency payment platform and end-user payment gateway. Since then, the company has been involved in a number of acquisitions including Natwest, RBS, Vantiv, and more recently by FIS when it acquired WorldPay Inc for $32m in 2019 leading to a surge in its stocks and shares price.
Over time, WorldPay has become a global leader in ecommerce and safer online payments and is currently the UK’s most popular payment provider.
Pros Of Trading With WorldPay
All Major Cards Are Accepted
WorldPay accepts over 100 currencies on all major debit/credits card and PayPal. Payments can be made on the merchant/broker’s website either via the virtual terminal or pay per link using an email address, avoiding the need for invoices.
Secure Payment Methods
WorldPay’s online gateway ensures the highest level of safety, security, and compliance for its customers. This includes advanced fraud protection and tailored APIs. As a result, traders can deposit into their trading accounts and withdraw profits with peace of mind.
24/7 Customer Support
WorldPay offers 24/7 support via an international customer services telephone number with a UK-based helpline team. New customers can also contact the company for a free sales call-back service with no login credentials required.
The payment provider’s dashboard allows customers to manage their funds effectively, providing live status updates, and multiple accessories. Customers can also login via the mobile app; WorldPay Total. Any relevant news updates are passed onto clients. The company’s benefits club can also be accessed.
Cons Of Trading With WorldPay
Despite its well know reputation in the payment provider market, WorldPay has only been integrated with a select list of online trading brokers, including 101investing. But as the company grows, we anticipate the list of brokers offering the payment method will increase.
Negative Customer Reviews
WorldPay UK Limited (Ltd) has received some negative reviews online. Common issues highlighted by merchants are problems with processing payments, system outage issues, and additional features not working. Although these concerns may not directly impact the trader, they could increase a broker’s reluctance to integrate WorldPay payments.
Payments with WorldPay are processed instantly. However, brokers may have their own processing times which may cause a delay in funds reaching your trading account. Usually though, you can expect deposits to be processed the same day while withdrawals can take several working days.
WorldPay has over 25 years’ experience in processing payments and has 2 key pillars of security assurance:
- Thorough fraud protection with several risk management indicators which highlight any transactions of concern
- PCI Complaint which reduces the risk of data security breaches and safeguards against fraud
Deposits & Withdrawals
WorldPay’s merchant portal allows a range of account deposit methods including card payments, online payments, mail order telephone payments (MOTO), and authorisation centre phone payments.
WorldPay highlight that deposit and withdrawal times are dependent on a number of factors, most notably: the agreement that the customer has with the merchant. In the context of day trading, this means that deposits and withdrawals are subject to the specific processing times of the broker, so consult their website for specific timelines.
Fees & Rates
WorldPay charges no joining fees, zero hidden charges, and free refunds. With that said, it’s worth checking the broker’s website for any processing times and additional fees.
Note: If the merchant is using the pay-as-you-go WorldPay gateway, transaction fees are 2.75% of each transaction plus £0.20 and some of this cost may be charged to the trader. Additionally, if the merchant is using the monthly WorldPay pricing option, the rate is a minimum of £19.95, some of which may be passed on to the trader.
Is WorldPay A Good Choice For Traders?
WorldPay offers a safe and simple payment method. It is a global market leader and its reputation and popularity suggest it could become a more utlised payment method by brokers in the future. With that said, traders should note some poor reviews and its current lack of market integration with popular forex brokers.
How does WorldPay work?
WorldPay is a global leader in merchant payment services, including credit/debit card processing for businesses of all sizes.
What bank does WorldPay use?
All major credit/debit cards and PayPal can be used. The payment facilitator connects businesses to their customers through a secure online payment portal.
Are my funds safe with WorldPay?
Yes, WorldPay has over 25 years’ experience in the payment services sector and has developed highly secure and safe processes to ensure customer protection from fraud and error.
What level of customer support does WorldPay offer?
WorldPay offers a 24/7 helpdesk which can be accessed via the following phone number: 0800 096 3997.
Does WorldPay charge any joining fees?
No, WorldPay is free to join via a simple registration form. Online brokers may have their own sign-up process and payment fees, however.