It’s all rumour so far, but word in the industry says that Secure Trading are terminating their relationship with WorldPay.
The story goes that now that Secure Trading have their very own “acquiring license” they want to provide a full payment processing service to clients and that they have targeted all their clients who currently have merchant accounts through WorldPay – switching off the WorldPay connections and encouraging all affected WorldPay merchants to simply adopt their one-stop-shop package.
If true, then this feels like more than just aggressive marketing.
Retailers using the Secure Trading service must feel compelled to accept the move from WorldPay to Secure Trading Merchant Services, after all it’s Secure Trading that provide all the front end interface to their clients
And if the WorldPay connection has been cut off then their other acquiring partners (like Allied Irish Bank Merchant Services (AIBMS), First Data Merchant Solutions (FDMS), Lloyds Cardnet, Elavon and Barclaycard) must be wondering whether their merchants will be next in the Secure Trading targets.
We are hearing that WorldPay are trying to assure their Secure Trading customers that there are other options (like switching the Gateway to them – giving them the one-stop-shop account), but that must be a hard pill to swallow for a merchant compared to the one that comes at them from Secure Trading – which must offer zero disruption and zero risk.
Whatever the messages though, it’s important to remember that this is a competitive market and there are likely to be far more choices than either party would want to disclose.
CPRAS are encouraging any merchants who are confused by the different messages they are receiving, or who perhaps just want an independent assessment of all their options, to get in touch…we’ll be happy to offer free, independent, expert advice.