Royal Bank of Scotland

As you would expect from one of the world’s largest banks, The Royal Bank of Scotland’s merchant services arm is an all round service aiming to fit everyone.

RBS handle a range of merchant accounts and have taken on WorldPay as a card payment services partner.

No surprise that their partner is a world leader in the field and they are quick to boast about their capabilities, albeit in a way that lends itself more to the high volume market. Their service is feature-packed and of course covers face-to-face and remote/online payments.

RBS Company Background

RBS has a slightly tenuous boast to being older than the United Kingdom itself, yet it is not the oldest bank to issue from Scotland.

It was formally chartered in 1727 and was given the Royal Warrant since, according to the Crown the ‘old bank’, the Bank of Scotland, was rumoured to have Jacobite tendencies. The competition between the two was insatiable and almost devastating for both. Indeed, it took until 1751 before each would agree to accept notes minted by the other.

The relationship with England was stormy as well. RBS only gained a presence in London in 1874, but it took until the 1960’s before Scottish banks could legally open branches on English soil and vice versa.

Having grown over the years to be (at one point) the world’s 4th largest bank, RBS have regrettably faced tumult in recent years, arguably being the worst hit by the 2008 crash. Consequently, the bank is technically 81% owned by the British taxpayer after a £46 billion government bailout was required to keep trading.

However, in spite of their recent troubles, RBS remain a powerful presence on the world stage and their partner WorldPay was actually once their subsidiary company. Having started in 1989, but acquired by RBS in 2002, the brand was allowed to trade under its own name and made several high profile acquisitions of its own.

By 2010 it was the largest in Europe and one of the world’s major players. It was then RBS sold Worldpay to Bain Capital and Advent International as part of a major round of sales and rationalisation. Parting on good terms, they continue to trade together.

Royal Bank of Scotland Merchant Accounts

RBS and WorldPay are leaders in their field so no one should be surprised to learn that they offer a full suite of face-to-face card readers, online card processing technology, and telephone and cardholder-not-present processing. Card readers available include the usual line-up of static, portable, mobile and smartphone devices.

For online businesses, they can offer a separate payment page hosted by WorldPay or one integrated to your site and branded with your logo and colours. They also offer virtual terminal services. What is interesting is that WorldPay even offer to set up an online merchant account for businesses that require this service.

Boasting that over 500 payments per second are possible, ensuring no bottlenecks even for large businesses, WorldPay offer simple systems for small and medium business and more complex tailored solutions for large enterprise.

RBS also claim that they cater for online businesses like gaming sites that have high volumes and spikes in payment behaviour; WorldPay then backs this up by offering specific high capacity online gateways.

WorldPay offers RiskGuardian security services, which is a customisable solution depending on preference levels. They have full reporting suites available, fraud prevention measures and dedicated customer helpdesk support. Support is available 363 days per year and is UK based. Enterprise customers are also assigned dedicated account managers.

RBS Merchant Account Fee Structure

RBS do not publish their merchant account fee structure, as all pricing is done on request and according to requirements.

WorldPay pride themselves in being a one-stop shop and have sales lines available to discuss options in full with trained specialists, ensuring each solution is as accurate as it is bespoke.

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RBS Merchant Services Summary

Predictably, RBS offers everything you can think of. The product suite is vast, top quality and completely tailored to individual needs. They have partnered with a world leader in payment processing with world class security and incredibly solid infrastructure. They are geared up for high volume processing and small business requirements.

It is, however, fairly evident that they are most comfortable offering their services to larger businesses. The comments about their capabilities focus heavily on how robust their offering is under the stress of high volume environments and a lot is made of the ability of the solutions to be fully ‘tailor-made’.

The WorldPay website talks of having “everything under one contract”, suggesting it looks to service companies with complex requirements, such as those with both online and offline requirements.

As a result, the security factors and powerful reporting tools combined with WorldPay’s valuable insight into the business world through the eyes of its millions of members, should be enough to persuade most merchants to consider this option.

RBS and WorldPay alike are keen to stress that they make growth easy for small to medium concerns so, while enterprise customers will find a very effective solution here, smaller concerns should not be shy in approaching them for a quote.

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Author - Nigel Vaughan

Nigel has over 10 years experience in digital marketing, and loves tech and all kinds of electronics. A keen cyclist and cycle-tourist, he has cycled through 25 countries worldwide.