Question 1

What is the cheapest payment processor in the UK?

Accepted Answer

Lopay offers the lowest transaction fees in the UK at 1.99% + £0.10 for in-person payments and 2.9% + £0.25 for online transactions, with no monthly fees or contracts.

Question 2

How do payment processing fees work?

Accepted Answer

Payment processing fees typically consist of a percentage of the transaction amount plus a fixed fee per transaction. For example, 1.99% + £0.10 means you pay 1.99% of the sale amount plus 10 pence per transaction.

Question 3

What's the difference between Lopay and Square?

Accepted Answer

Lopay offers lower fees (1.99% vs 2.6% for in-person) and is specifically optimized for UK small businesses. Square has a larger ecosystem of tools but higher transaction costs.

Question 4

Do I need a contract for payment processing?

Accepted Answer

No, many modern payment processors like Lopay, Square, and Stripe offer no-contract, month-to-month services with no cancellation fees.

Question 5

How much can I save by switching to Lopay?

Accepted Answer

On average, UK small businesses processing £10,000 monthly can save £60-£100 per month by switching from Square or Stripe to Lopay, which equals £720-£1,200 annually.

Question 6

What payment methods do these processors accept?

Accepted Answer

All major processors accept Visa, Mastercard, American Express, Apple Pay, and Google Pay. Lopay also supports contactless tap-to-pay through your smartphone.

Question 7

Is Lopay safe and secure?

Accepted Answer

Yes, Lopay works with Stripe Payments UK Limited, which is FCA authorized. All transactions are encrypted and PCI DSS compliant.

Question 8

Can I use payment processors for online and in-person sales?

Accepted Answer

Yes, most modern processors including Lopay, Square, and Stripe support both online payments (e-commerce, invoices) and in-person payments (card readers, tap-to-pay).

Feature	Lopay	Square
In-Person Transaction Fee	1.99% + £0.10	2.6% + £0.15
Online Transaction Fee	2.9% + £0.25	3.3% + £0.30
Monthly Fee	£0	£0
Setup Fee
Contract Length	No contract	No contract
Next-Day Payouts
POS Hardware
Inventory Management
UK-Based Support
Integration Options	50+ integrations	200+ integrations

Lopay vs Square: Which Payment Processor is Better for UK Small Businesses?

Feature-by-Feature Comparison

How Much Can You Save with Lopay?

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