Payment card
Payment card is a physical or virtual card issued by a bank or card company that lets customers pay for goods and services. As a UK business, you can take card payments in person with a card reader or remotely via an online checkout or payment link, with payouts sent to you by your payment provider.
Card payments happen either with the card present (chip & PIN or contactless) or without it present (online or by phone). Each method has different fees and risks; follow your provider’s security steps and keep clear records, because transactions can be disputed (chargebacks).
Common types of payment cards:
- Debit card – spends money directly from the cardholder’s current account.
- Credit card – the issuer lends funds and the cardholder repays later.
- Prepaid card – used only up to the preloaded balance.
- Commercial/corporate card – for business expenses, often issued to employees.
Simple in‑store flow
A customer taps a card, the terminal requests authorisation, and the payment is approved. Your provider batches it and sends the payout to you later, minus processing fees.
Ways you can accept card payments:
- Card-present: chip & PIN or contactless using a card reader or POS terminal.
- Card-not-present: online checkout through a payment gateway, payment links on invoices, or phone orders via a virtual terminal.
