What does WorldPay AP Limited stand for on your bank statement?

Worldpay AP Limited

WorldPay is a globally renowned payment services company, serving various business giants around the world. The company was founded in 1989 and is considered the pioneer of online transactions for example for online casinos. Since then, the company has changed its name multiple times, from Streamline to WorldPay Groups plc, and now WorldPay AP limited.

The UK-based company merged with another payment mammoth in the US called Vantiv, in the year 2018. Vantiv proposed an array of new services, to improve the standards of the company. This merger resulted in the world’s largest payment service, WorldPay Inc. According to a survey, the annual payment processing of WorldPay is around 40 billion dollars.

WorldPay is a global leader in the casino payment services field, and if you are in the business of online payments, or have merchant accounts, then probably WorldPay is the first name that will come to your mind. Now WorldPay is acquired by FIS (Fidelity National Services), which has opened new doors of online payment and money-saving strategies.

Why WorldPay?

WorldPay has revolutionized online casino payment services; you can get instant payments on your mobile, laptop, or in person. Furthermore, virtual credit card service is very convenient and easy-to-use, with various user-friendly options. You just need to Log In to your account, transfer, and get payments in a matter of seconds. Lastly, WorldPay accepts credit/ debit card payments and mobile wallet payments, anytime, anywhere, without any significant changes. It is convenient for all types of businesses, whether it is eCommerce or in-person.

Products and Services by WorldPay

WorldPay provides multiple services to facilitate their customers. The most promising feature of WorldPay is, it does not use third-party services, rather processes payments by itself. Below you will find the products and services provided by WorldPay.

Merchant Accounts Services

WorldPay has been providing services to more than 10 million merchants worldwide, also online casinos. WorldPay controls all the transactions itself, it does not depend on the third-party service. The in-house services are beneficial for the merchant, it simplifies the contracts and you only have to deal with one company.

Furthermore, you don’t have to worry about any technical or transection issues, WorldPay will handle them for you. Often, the transaction via cards is accepted through different merchant IDs, which can be frustrating, but at WorldPay, you only need one Merchant ID for all types of transactions.

Credit Card Terminal

WorldPay provides a complete range of countertop terminal services. It supports Near Field Communication (NFC) and Europay, MasterCard, and Visa (EMV) methods.

You can use your mobile wallet to pay the money through the NFC payment method. It is one of the most secure and safe methods for transection, whereas, you can also use (EMV) credit cards for payments. WorldPay provides you two options, either to lease or buy your terminal.
For long-term usage, you should buy the machine, to save leasing money from the non-cancelable leasing policy of the company.

Worldpay’s Smart Pay Terminals

WorldPay emphasizes the Smart Terminal which provides access to other business applications, like management of inventory, etc. Currently, WorldPay has the following models in the market; Pax A920, Carbon8, and Carbon 10. Smart Pay machines pave the way between POS systems and conventional terminals.

Payment Gateway Services

As being the world’s leading Payment Service Company, it is no exception that WorldPay is an integral part of eCommerce and online casinos. The eCommerce business is totally based on online transactions; the companies use the services of “WorldPay Total” to integrate their payments to the safe online wallet.

WorldPay’s Mobile Payments Services

WorldPay also integrates with the third-party app for mobile payment services. For instance, SwipeSimple (Payment Depot) is a highly customizable, easy to use, and secure app for money transfer through mobile. You can get all types of transaction reports, card information, tax settings, etc. through this app.

POS System Services

WorldPay has created integrated Point-Of-Sale software, which compatible with third-party devices. Generally, it is used for small businesses, retail shops, and restaurants.

Worldpay’s Online Shopping Services

WorldPay partnered with “BigCommerce”, to facilitate and support eCommerce merchants. It allows them to integrate their websites into the online payment processing system. Various fashion brands are utilizing WorldPay’s services to run their online stores.

Fast Access Funding Service

This service provides access to card payments in a matter of few hours. The company charges an additional fee for this service.
Security Services

WorldPay is also integrated with “OmniShield Assure”, which will make your account secure. The data transfer is totally encrypted and unbreachable. The services provided by OmniShield Assure suite are; data breach insurance, compliance with PCI services, EMV assurance. The insurance coverage per merchant is up to $100,000, and $25,000 to upgrade the system, to prevent future risk.

Analytics & Reporting

The analytical reports of merchant accounts are prepared by Worldpay’s own reporting portal called “iQ”. It provides services on the transaction, extra charges, annual reports, etc. To access this service’s WorldPay charge additional fees.

WorldPay contract terms and conditions

Before registering with WorldPay, merchants should read all the terms and conditions carefully. The standard agreement offered by WorldPay is of 3 years. If the company does not provide the written notice before 90 days of the expiration of the agreement, then the agreement automatically renewed for 1 more year. If the company wants to break the agreement before expiration, they will have to pay $295. Moreover, WorldPay also provides equipment to the merchant on a lease, for 12-48 months.
Service Charges by WorldPay:

  • Charges for various services by WorldPay are following:
  • Swiped transection service charges 2.90% + $0.03
  • Keyed in transection charges 3.30% + $0.03
  • Payment Gateway Service charges Not specified
  • Early termination fees $295
  • PCI compliance charges $15-20/ month
  • Equipment lease charges Not specified
  • IRS annual report charges $69

Customer services by WorldPay:

If you feel any difficulty you can contact customer service during office hours (7 Am-5 PM Pacific Time). Whereas, the payment depot service provides 24/7 customer service. Moreover for basic queries, you can visit the FAQ section of the website.

Leave a comment