What Should a Card Payment Contract Include?

A good card payment contract shows every charge in writing before you sign: the transaction rates for each card type, terminal rental or purchase costs, any monthly minimum, PCI compliance fees, chargeback fees, the contract length and exactly what it costs to leave early. If a charge is not written down, ask for it to be.

1. Transaction rates by card type

Ask for rates broken down by card type, or for interchange++ pricing, which separates interchange, scheme fees and the provider's margin. In the UK, interchange is capped at 0.2% for consumer debit cards and 0.3% for consumer credit cards. The provider's margin is where prices vary most.

2. Terminal costs

Check whether terminals are rented or bought, the monthly rental per device, who repairs or replaces faulty terminals and whether you must return them when you leave.

3. Monthly minimums and fixed fees

Some contracts charge a minimum monthly service fee if your card volume falls below a set level. Others add fixed fees for statements, accounts or reporting. Add these to your comparison: a low headline rate can hide high fixed charges.

4. PCI compliance fees

PCI DSS is the card industry's security standard. Many providers charge a monthly PCI fee, and some add a higher non-compliance fee if you do not complete your annual questionnaire. Ask what support you get to stay compliant.

5. Chargeback and refund fees

Find out what you are charged when a customer disputes a payment, and whether refunds carry a fee.

6. Contract length and exit fees

Note the minimum term, the notice period and the exact cost of leaving early. Some contracts renew automatically if you miss the notice window, so put the date in your diary.

7. Settlement time

Ask how quickly card takings reach your account and whether faster settlement costs extra. Cash flow matters as much as the rate.

How Moola helps

Moola reviews your current statements, compares options through our acquiring partners and gives you a quote that shows every charge. Read our FAQs or request a callback.

Frequently asked questions

What is interchange++ pricing?

A pricing model that shows interchange, card scheme fees and the provider's margin separately, so you can see exactly what you pay for.

How long are card machine contracts usually?

It varies by provider. Always check the minimum term, notice period and early exit cost before you sign.

What documents should I have when comparing quotes?

Your last three months of card statements, so quotes can be based on your real card mix and volume.