Based on checking the website, Paymentsave.co.uk offers card payment solutions for UK businesses, including card machines, online payment processing, and EPOS systems.

However, a significant concern arises from their prominent offering of “merchant cash advances” with “low interest rates” and “flexible repayment options.” This aspect, which involves interest-based lending, falls under the category of Riba interest, which is explicitly forbidden in Islamic finance.

While the core payment processing services might seem permissible, the integration of interest-based financial products makes the overall offering problematic from an Islamic perspective.

Engaging with such services, even for seemingly legitimate business needs, can lead to negative outcomes due to the inherent impermissibility of Riba, which is consistently warned against in Islamic teachings due to its exploitative nature and the disruption it causes to economic justice.

The path to true prosperity, both in this life and the next, lies in adhering to principles that ensure fairness, equity, and the avoidance of exploitative practices.

Instead of turning to interest-based financing, businesses should explore Sharia-compliant alternatives that uphold ethical standards and foster sustainable growth.

These alternatives not only align with Islamic principles but also promote economic well-being for all parties involved.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org. Robinson-jackson.com Reviews

Table of Contents

Paymentsave.co.uk Review & First Look

Upon an initial review of Paymentsave.co.uk, the website presents itself as a comprehensive provider of payment solutions for businesses within the UK.

The primary offerings include a range of card machines portable, countertop, mobile, online payment gateways, and integrated EPOS systems, all designed to facilitate card transactions.

The site emphasizes ease of use, quick setup claiming as little as 3 days, and dedicated customer support.

They highlight features such as “Low Transaction Fees,” “Next-Day Settlement,” and “24/7 Customer Support,” which are certainly attractive to businesses seeking efficient payment processing.

Initial Impressions: The website is professionally designed, clear, and easy to navigate. It immediately highlights key benefits for potential clients, such as cost savings and improved cash flow.
Target Audience: Clearly aimed at UK businesses of all sizes, from retail and hospitality to mobile services, looking to streamline their payment acceptance.
Trust Signals: The site prominently features Trustpilot ratings, boasting an “excellent rating” and displaying testimonials from “happy clients,” which is a common tactic to build credibility. They also state they are “Authorised and regulated by the Financial Conduct Authority FCA,” which is crucial for financial service providers in the UK.

However, a deeper dive reveals a significant issue.

While the payment processing tools themselves might appear neutral, the inclusion of “Merchant Cash Advances” with explicitly stated “low interest rates” immediately raises a red flag.

This offering, presented as a solution for businesses needing “extra capital to grow,” directly involves Riba, which is strictly prohibited in Islamic finance.

This integration casts a shadow over the entire platform for a Muslim business owner, as it blurs the line between permissible payment facilitation and impermissible financing.

Paymentsave.co.uk Cons

While Paymentsave.co.uk presents various features that might seem beneficial on the surface, a critical examination, particularly from an Islamic ethical perspective, highlights several significant drawbacks. Giftup.com Reviews

The core issue revolves around their offering of interest-based financial products, which overshadows any potential benefits derived from their payment processing services.

Involvement with Riba Interest-Based Lending:
- The Major Red Flag: The most significant con is Paymentsave’s promotion of “Merchant Cash Advances” with “low interest rates.” This is a direct engagement with Riba, which is strictly forbidden in Islam. Riba is viewed as an exploitative practice that concentrates wealth, creates injustice, and lacks blessings.
- Impact on Business: For a Muslim business owner, engaging with any service that involves interest, whether as a lender or borrower, is to be avoided. This makes Paymentsave.co.uk’s overall offering unsuitable, as participating in Riba, directly or indirectly, can have severe spiritual and ethical consequences.
- No True Blessing: While such advances might offer quick cash, money acquired or transacted through Riba lacks true blessing barakah and can lead to instability and eventual hardship, contrary to superficial appearances of growth.
Ethical Compromise:
- Blurred Lines: Even if a business intends to only use the card payment processing services, the platform’s active promotion of interest-based cash advances means one is still dealing with an entity deeply involved in Riba. This can create an ethical dilemma for individuals striving to maintain Islamic financial principles.
- Promoting Haram: By operating on a platform that actively facilitates and promotes Riba, one could be seen as indirectly supporting or legitimizing a forbidden practice within the broader economic ecosystem.
Potential for Debt Cycles Beyond the Islamic Context:
- Risk of Dependency: Merchant cash advances, while quick, often come with high effective interest rates and can lead businesses into a cycle of dependency, especially if growth doesn’t materialize as expected. The “flexible terms” can sometimes mask less favorable conditions.
- Cash Flow Strain: Repayments are often tied to daily or weekly card sales, meaning a dip in business performance can quickly turn what seemed like a “flexible” repayment into a significant cash flow burden.
Lack of Sharia-Compliance:
- No Halal Alternative Offered: Paymentsave.co.uk does not offer any Sharia-compliant financing options. Their sole financing product is interest-based, leaving no ethical choice for Muslim businesses.
- Limited Scope for Muslim Businesses: This fundamentally limits the platform’s utility for Muslim entrepreneurs and businesses striving to operate within Islamic finance guidelines.

In summary, despite its outwardly appealing payment processing features, Paymentsave.co.uk’s inclusion of interest-based merchant cash advances makes it a problematic choice for Muslim businesses.

The imperative to avoid Riba is paramount, and any involvement, even indirect, with such practices is to be discouraged.

Paymentsave.co.uk Alternatives

Given the significant ethical concerns surrounding Paymentsave.co.uk’s offering of interest-based merchant cash advances, it’s crucial for businesses, especially those adhering to Islamic principles, to explore Sharia-compliant alternatives for both payment processing and financing.

Thankfully, the market offers various options that uphold ethical standards while still providing robust business solutions.

For Payment Processing Card Machines, Online Payments, EPOS: Spyalarms.co.uk Reviews
- SumUp: A popular choice for small and medium-sized businesses, SumUp offers a range of card readers, online payment links, and invoicing tools. They operate on a simple transaction fee model, typically without hidden charges or interest-bearing financial products attached. This makes them a more straightforward option.
  - Pros: Easy setup, no monthly fees pay-as-you-go transaction fees, portable card readers.
  - Considerations: While the core payment processing is generally permissible, always review their full terms to ensure no interest-based features are subtly introduced.
- Square: Similar to SumUp, Square provides a comprehensive ecosystem for businesses, including card readers, POS software, online stores, and invoicing. Their transparent pricing model is based on transaction fees.
  - Pros: Scalable solutions, robust POS features, integrated e-commerce capabilities.
  - Considerations: Like any conventional provider, scrutinize their financial services offerings. Ensure you only opt for the payment processing and avoid any lending or financing products.
- Zettle by PayPal: Offers card readers and POS solutions, integrating seamlessly with PayPal accounts. It’s known for its user-friendliness and broad acceptance.
  - Pros: Strong brand recognition, easy integration with PayPal, versatile hardware.
  - Considerations: As with other providers, be diligent about avoiding any interest-based credit or loan products they might offer alongside their payment processing.
- Dedicated Halal Payment Processors: While less common, some specialized Islamic finance institutions are emerging that offer payment gateway services fully aligned with Sharia principles. These are often niche but provide peace of mind. Researching specific providers in the UK market under “Islamic payment gateway” or “Sharia-compliant payment solutions” could yield tailored options.
For Business Financing Sharia-Compliant Capital:
- Murabaha Cost-Plus Financing: Instead of an interest-bearing loan, a bank or financier purchases an asset e.g., equipment, inventory on behalf of the business and then sells it to the business at a predetermined higher price, payable in installments. There is no interest, but a transparent profit margin.
  - Providers: Look for Islamic banks or financial institutions specializing in business finance. Examples in the UK include Al Rayan Bank formerly Islamic Bank of Britain and some ethical finance providers.
- Musharakah Partnership Financing: This involves a joint venture where the financier and the business contribute capital and share profits and losses based on pre-agreed ratios. It’s a true partnership, aligning with Islamic principles of risk-sharing.
  - Providers: Again, Islamic banks and specialized ethical finance houses are the go-to for this model.
- Ijarah Leasing: An Islamic leasing contract where the financier purchases an asset and leases it to the business for a fixed period at an agreed rental. Ownership typically transfers at the end of the term.
  - Benefits: Avoids interest, provides access to assets without upfront purchase costs.
- Qard Hasan Benevolent Loan: While rare for commercial financing, this is an interest-free loan zero profit for the lender offered purely for goodwill, often by individuals or philanthropic organizations. It’s an ideal, albeit less scalable, form of financing.
- Bootstrapping & Ethical Investment:
  - Self-Funding: Reinvesting profits back into the business is the most Sharia-compliant way to grow.
  - Crowdfunding Sharia-Compliant Platforms: Some crowdfunding platforms operate on equity-sharing or profit-sharing models, avoiding interest. Research platforms specifically focusing on ethical or Islamic investments.
  - Private Investors: Seek out investors who are willing to participate in profit-and-loss sharing agreements rather than expecting fixed interest returns.

When seeking alternatives, always perform thorough due diligence.

For payment processors, ensure their terms of service are clear and that no hidden interest-bearing elements are involved.

For financing, explicitly seek out institutions and products that are certified as Sharia-compliant by reputable Islamic scholars.

This diligent approach ensures that your business operations remain aligned with ethical and religious principles, fostering true, blessed growth.

How to Cancel Paymentsave.co.uk Subscription

While Paymentsave.co.uk primarily offers payment processing services rather than a “subscription” in the typical sense of a monthly content or software service, businesses usually enter into a contract for their services.

This contract will outline the terms for cancellation, which can vary depending on the specific agreement signed for card machines, online gateways, or EPOS systems.

Given the ethical considerations raised by their interest-based cash advances, understanding how to terminate any existing relationship is crucial for Muslim businesses.

Here’s a general guide on how to approach cancellation based on industry standards for such services:

Review Your Contract: Vista-health.co.uk Reviews
- The First Step: The most important action is to meticulously review the service agreement or contract you signed with Paymentsave.co.uk. This document is legally binding and will contain all the details regarding termination clauses, notice periods, early termination fees, and return policies for hardware.
- Key Information to Look For:
  - Contract Length: Is it a fixed-term contract e.g., 12, 24, 36 months or a rolling monthly agreement?
  - Notice Period: How much notice do you need to provide before terminating e.g., 30, 60, 90 days?
  - Early Termination Fees ETFs: Many payment processors levy significant fees if you cancel before the end of a fixed term. Understand what these could be.
  - Hardware Return: What are the requirements for returning card machines or EPOS equipment? Is there a fee if not returned in good condition or by a certain deadline?
  - Data Portability: How can you ensure your transaction data is accessible after cancellation?
Contact Paymentsave.co.uk Directly:
- Initial Contact: As per their website, Paymentsave.co.uk provides contact numbers for support: 01634 540 453 and sales enquiries: 020 3475 9082.
- Formal Communication: It is highly recommended to communicate your intent to cancel in writing, even if you initiate the process via phone. This creates a paper trail. Send an email to [email protected] and follow up with a registered letter if the issue is complex or if you anticipate disputes.
- Information to Provide: Have your business name, account number, contact details, and the reason for cancellation ready. Clearly state your intention to terminate the service.
- Request Confirmation: Always request written confirmation of your cancellation, including the effective date of termination and any remaining obligations.
Prepare for Potential Fees:
- Be Aware: Be prepared for potential early termination fees if you are still within a fixed-term contract. These can be substantial, sometimes calculated as a multiple of your average monthly processing fees or a flat fee.
- Negotiation Limited: While difficult, sometimes you might be able to negotiate these fees, especially if you have a valid reason for leaving e.g., poor service, though this might be harder to prove. However, from an Islamic perspective, the primary concern is severing ties with interest-based financial offerings, and this might mean absorbing some costs to align with ethical principles.
Hardware Return:
- Follow Instructions: Carefully follow all instructions for returning any leased or rented card machines or EPOS equipment. Document the condition of the equipment before shipping and keep proof of postage/delivery.
Data and PCI Compliance:
- Data Retrieval: Before cancellation, ensure you have downloaded all necessary transaction data, reports, and customer information you may need.
- PCI DSS Compliance: Understand your ongoing responsibilities regarding Payment Card Industry Data Security Standard PCI DSS compliance, even after switching providers. Your business may still have obligations depending on how you stored or processed card data.

By taking a systematic approach, businesses can navigate the cancellation process efficiently while ensuring adherence to contractual obligations and, most importantly, moving towards more ethically sound payment and financial solutions.

Paymentsave.co.uk Pricing

Paymentsave.co.uk, like many payment processors, doesn’t publicly display a fixed, universal pricing structure on its website.

This is common practice in the industry because pricing is often tailored to individual businesses based on factors like transaction volume, average transaction value, industry type, and the specific services card machines, online gateway, EPOS required.

However, they do emphasize “Low Transaction Fees” and “transparent, no-hidden-fee pricing.”

Here’s what you can typically expect and what to look out for regarding pricing with such providers:

Custom Quotes: Alcanside.com Reviews
- “Get a Free Quote”: The website heavily promotes getting a “free quote” by calling or filling out a form. This indicates that pricing is bespoke.
- Factors Influencing Quotes:
  - Transaction Volume: Businesses with higher monthly transaction volumes often receive lower per-transaction rates.
  - Average Transaction Value: Higher average values can sometimes lead to different pricing tiers.
  - Industry Type: Some industries are considered higher risk, which can affect rates.
  - Services Required: Whether you need just a card machine, an online gateway, or a full EPOS system will impact the overall cost.
  - Contract Length: Longer contract terms might come with slightly better rates, but they also lock you into a service, which is problematic if the service involves ethically questionable elements.
Common Fee Structures General Industry Practice:
- Interchange Plus: This is often considered the most transparent model. You pay the direct cost from the card schemes Interchange plus a fixed percentage charged by the payment processor and an acquiring fee.
- Tiered Pricing: Transactions are categorized into different tiers e.g., qualified, mid-qualified, non-qualified, each with a different rate. This can be less transparent as you don’t always know which tier your transactions will fall into.
- Flat Rate: A single percentage fee for all transactions, sometimes with a small per-transaction fee. This is often simpler but can be more expensive for high-volume businesses.
- Monthly Fees: Many providers charge a fixed monthly fee for account maintenance, PCI compliance, or hardware rental.
- PCI Compliance Fees: A common separate monthly or annual fee for maintaining compliance with Payment Card Industry Data Security Standards.
- Authorization Fees: A small fee per transaction e.g., £0.01 – £0.05 regardless of the transaction value.
- Chargeback Fees: Fees incurred if a customer disputes a transaction.
- Hardware Costs: Card machines might be purchased outright, leased, or rented monthly. Check if they are bundled or separate.
What Paymentsave.co.uk Emphasizes:
- “Low Transaction Fees”: They explicitly state this, suggesting competitive rates.
- “Transparent, No-Hidden-Fee Pricing”: This claim needs to be verified by a careful review of any actual quote provided. “Hidden fees” can often emerge in the form of various monthly charges, gateway fees, or annual compliance fees that are not immediately obvious.
Crucial Consideration for Muslim Businesses:
- Merchant Cash Advances: While not directly part of the payment processing pricing, the “low interest rates” associated with their merchant cash advances are a central part of their financial offerings. For a Muslim business, the very existence and promotion of this interest-based product makes any pricing, no matter how “low” the transaction fees, irrelevant if it leads to a compromise of Islamic principles. The focus shifts from merely cost-effectiveness to ethical permissibility.

In conclusion, to understand Paymentsave.co.uk’s specific pricing for your business, you would need to contact them directly for a personalized quote.

However, for a Muslim business, the pricing is secondary to the ethical permissibility of the overall offering, which is compromised by their interest-based financing options.

The wisest approach is to seek providers whose entire service model aligns with Sharia principles from the outset.

Why Avoid Paymentsave.co.uk’s Financial Services

For Muslim businesses and individuals committed to ethical financial practices, avoiding Paymentsave.co.uk’s financial services, specifically their “Merchant Cash Advance” product, is not just a preference but a religious imperative. The primary reason for this strong stance is the involvement of Riba interest, which is unequivocally forbidden in Islam.

Here’s a breakdown of why this is a critical point of avoidance:

The Prohibition of Riba Interest:
- Quranic and Prophetic Guidance: The prohibition of Riba is clearly stated in the Quran e.g., Al-Baqarah 2:275-279, Al-Imran 3:130 and reinforced through numerous authentic Hadith. It is considered one of the major sins in Islam due to its exploitative nature.
- Economic Injustice: Riba is seen as an unjust system that allows the wealthy to accumulate more wealth without genuine productive effort, at the expense of those in need. It distorts the true value of money, encourages speculation, and leads to debt cycles that harm individuals and economies.
- Lack of Barakah Blessing: Money gained or transacted through Riba is believed to lack divine blessing. While it may appear to yield profits in the short term, it often leads to long-term instability, hardship, and a lack of true prosperity.
Paymentsave.co.uk’s Merchant Cash Advance and Riba: Access4lofts.co.uk Reviews
- Explicit Interest: The website explicitly states, “Our cash advances come with low interest rates.” This clearly identifies the product as an interest-based loan, falling directly under the category of Riba.
- Nature of the Transaction: A merchant cash advance, despite its name, functions as a loan where funds are advanced against future credit card sales, and a fixed fee or factor rate is charged, which, when calculated over time, effectively represents interest. The “low interest rates” are still interest.
Ethical and Spiritual Implications:
- Compromising Principles: Engaging with Riba compromises a Muslim’s commitment to living by Islamic principles. It’s a fundamental aspect of Islamic economic ethics that businesses should strive to uphold.
- Seeking Halal Alternatives: The emphasis in Islam is always on seeking lawful halal and blessed barakah sustenance and means of business. When alternatives exist, even if seemingly less convenient or initially more complex, they are always preferred for their ethical integrity.
- Avoiding Complicity: Even if a business intends to use only the payment processing services, dealing with an entity that actively promotes and profits from Riba can be seen as indirectly supporting a forbidden practice.
Better, Permissible Alternatives Exist:
- Instead of interest-based cash advances, Muslim businesses should explore Sharia-compliant financing options such as Murabaha cost-plus financing, Musharakah profit-and-loss sharing partnerships, or Ijarah leasing, offered by Islamic banks and ethical finance providers. These models promote risk-sharing, genuine productive activity, and avoid the exploitative nature of Riba.
- Prioritizing self-funding through diligent savings and reinvestment of halal profits is also highly encouraged.

In essence, while Paymentsave.co.uk might offer functional payment processing tools, their entanglement with interest-based financial products renders them unsuitable for any Muslim business committed to upholding Islamic ethical standards.

The spiritual and ethical costs of engaging with Riba far outweigh any perceived financial convenience.

The Problematic Aspect of Paymentsave.co.uk: Merchant Cash Advances

The central ethical dilemma with Paymentsave.co.uk, from an Islamic perspective, lies squarely with its offering of Merchant Cash Advances MCAs. While the surface-level payment processing services card machines, online gateways might appear neutral, the inclusion and prominent advertising of MCAs with “low interest rates” fundamentally compromises the platform’s suitability for businesses seeking to operate within Islamic financial guidelines.

Let’s break down why this is problematic:

Understanding Merchant Cash Advances MCAs:
- Not a Traditional Loan, but Functions Like One: An MCA is an advance against a business’s future credit card sales. Instead of a traditional loan, the funder purchases a portion of the business’s future receivables at a discount.
- Repayment Mechanism: Repayment is typically made through automatic daily or weekly deductions from the business’s credit card sales. This means repayment fluctuates with sales volume.
- Factor Rate vs. Interest Rate: MCA providers often quote a “factor rate” e.g., 1.2 or 1.3 instead of an interest rate. If you borrow £10,000 with a factor rate of 1.2, you’ll repay £12,000. While they avoid the term “interest,” this fixed fee on the principal amount, regardless of the repayment period, functionally translates to an interest charge, often with a very high Annual Percentage Rate APR when calculated.
- Paymentsave.co.uk’s Explicit Mention of “Interest”: Critically, Paymentsave.co.uk’s website does explicitly use the term “low interest rates” when describing their cash advances. This removes any ambiguity. they are directly engaging in interest-based lending, which is Riba.
Why MCAs with Interest are Prohibited Riba:
- Fixed Return on Principal: The core issue is the predetermined, fixed increase on the principal amount lent the “interest” or the “factor”. Islamic finance strictly prohibits any transaction where money earns more money without an underlying productive asset, genuine risk-sharing, or a permissible trade.
- Exploitation of Need: Riba thrives on the necessity of the borrower. Those who are in dire need of funds often have no choice but to accept interest-bearing terms, leading to potential financial distress and debt cycles.
- Lack of Risk Sharing: In an interest-based loan, the lender is guaranteed a return regardless of the borrower’s business performance. In Islamic finance, profit should be shared with risk. if a business fails, the financier should also bear a portion of the loss. MCAs, despite their variable repayment, still guarantee the funder’s profit the factor rate without sharing business loss.
Impact on Businesses:
- Spiritual and Ethical Compromise: For a Muslim business, engaging with such a product means knowingly participating in Riba, which carries severe spiritual implications and goes against fundamental Islamic economic principles.
- Potential for Debt Trap: While quick to access, MCAs can be very expensive. Businesses can find themselves caught in a cycle of needing more advances to cover previous ones, particularly if sales are inconsistent or decline. The “flexible repayment” often masks a high effective cost.
- Cash Flow Strain: Daily or weekly deductions can significantly strain a business’s cash flow, making it harder to manage day-to-day operations and invest in long-term growth.

In conclusion, the “Merchant Cash Advance” product offered by Paymentsave.co.uk is a clear instance of Riba. Atmhospitality.co.uk Reviews

Its presence means that even if a business only intends to use their card processing services, it is dealing with an entity that actively promotes and engages in a forbidden financial practice.

For a Muslim business, the principle of avoiding Riba takes precedence, making Paymentsave.co.uk an unsuitable partner for financial services.

The emphasis must always be on seeking truly halal and ethical financing alternatives.

Avoiding Financial Deception and Promoting Ethical Practices

Paymentsave.co.uk’s blend of legitimate payment processing with interest-based merchant cash advances serves as a stark reminder of the need for extreme vigilance, especially for those committed to Islamic principles.

Avoiding financial deception isn’t just about protecting one’s bottom line.

It’s about upholding integrity and seeking true blessing in one’s earnings.

The Nature of Financial Deception Beyond the Obvious:
- Subtle Riba: Riba isn’t always presented as a straightforward “loan with interest.” It can be packaged in seemingly innocuous products like “cash advances,” “flexible funding,” or even certain types of “deferred payment” schemes where a hidden interest component exists. The key is to scrutinize any transaction where money yields more money without real trade, partnership, or effort.
- Misleading Terminology: Terms like “low interest,” “factor rate,” or “administrative fee” can mask the underlying interest charge. Always calculate the true cost of borrowing and compare it to the principal received.
- Lack of Transparency: While Paymentsave.co.uk claims “transparent, no-hidden-fee pricing” for processing, the inherent nature of their MCA product, despite calling out “low interest,” still operates within a framework that can be deceptive in its effective cost to businesses, leading to debt cycles.
Why Ethical Practices are Paramount:
- Barakah Blessing: Islamic finance emphasizes Barakah, which is divine blessing in wealth and sustenance. Wealth acquired through Riba, even if it appears to grow, lacks this blessing and can lead to instability and ultimately, regret.
- Fairness and Justice: Ethical financial practices, rooted in Islamic teachings, prioritize fairness, justice, and risk-sharing. This prevents exploitation of the needy and promotes a healthier, more equitable economy.
- Long-Term Prosperity: While adhering to ethical principles might sometimes mean foregoing quick, interest-based gains, it builds a foundation for stable, sustainable, and truly prosperous business growth, aligned with divine pleasure.
Strategies for Promoting Ethical Practices:
- Educate Yourself: Deepen your understanding of Islamic finance principles, particularly concerning Riba, Gharar excessive uncertainty, and Maysir gambling. This knowledge equips you to identify and avoid impermissible transactions.
- Seek Sharia-Compliant Alternatives: Actively search for and support businesses and financial institutions that explicitly adhere to Islamic financial laws. This includes halal banks, ethical investment funds, and payment processors that don’t involve interest-based products.
- Ask Direct Questions: When evaluating any financial product, ask direct questions about how it generates profit. If interest is involved, or if there’s no genuine risk-sharing, it’s best to avoid it.
- Prioritize Real Economy Transactions: Focus on generating income through legitimate trade, services, manufacturing, and genuine partnerships where profit is earned through effort and risk, not merely from lending money.
- Advocate for Change: Support initiatives and advocate for policies that promote ethical finance and discourage exploitative practices in the broader economy.

In conclusion, while Paymentsave.co.uk offers payment processing services, its prominent offering of interest-based merchant cash advances positions it as a platform that necessitates extreme caution and, ideally, avoidance for Muslim businesses. Syrve.com Reviews

The pursuit of ethical, Sharia-compliant financial practices is not merely a legalistic adherence but a foundational pillar for achieving true and lasting prosperity.

Frequently Asked Questions

Is Paymentsave.co.uk authorized and regulated?

Yes, based on checking the website, Paymentsave.co.uk states they are “Authorised and regulated by the Financial Conduct Authority FCA.” This is a standard regulatory requirement for financial service providers in the UK.

What services does Paymentsave.co.uk offer?

Paymentsave.co.uk offers card payment solutions for UK businesses, including card machines portable, countertop, mobile, online payment processing for websites, and EPOS Electronic Point of Sale systems.

They also prominently offer “Merchant Cash Advances.”

Does Paymentsave.co.uk offer next-day settlement?

Yes, Paymentsave.co.uk advertises “Next-Day Settlement,” meaning businesses can receive their funds from transactions the following day, 7 days a week.

What kind of customer support does Paymentsave.co.uk provide?

Paymentsave.co.uk claims to offer “24/7 Customer Support” from a dedicated UK-based team.

How quickly can a business set up with Paymentsave.co.uk?

Paymentsave.co.uk claims to offer “Easy Setup for 3 Days,” allowing businesses to start taking payments quickly.

What are the main benefits Paymentsave.co.uk highlights for its payment solutions?

Paymentsave.co.uk highlights low transaction fees, next-day settlement, and 24/7 customer support as key benefits for their payment solutions.

Does Paymentsave.co.uk provide online payment solutions for e-commerce?

Yes, Paymentsave.co.uk offers “Seamlessly accept secure online payments on your website or e-commerce store anytime” as part of their online payment solutions.

What types of card machines does Paymentsave.co.uk offer?

Paymentsave.co.uk offers Portable Card Machines, Countertop Card Machines, and Mobile Card Machines to suit various business types. Twofrontteeth.co.uk Reviews

What is a Merchant Cash Advance from Paymentsave.co.uk?

A Merchant Cash Advance from Paymentsave.co.uk is a financial product where businesses can access funds from £2500 to £5000 against future credit card sales.

The website explicitly states these come with “low interest rates” and flexible repayment options.

Is the Merchant Cash Advance from Paymentsave.co.uk permissible in Islamic finance?

No, the Merchant Cash Advance from Paymentsave.co.uk is not permissible in Islamic finance.

The website explicitly states it comes with “low interest rates,” which constitutes Riba interest, an activity strictly forbidden in Islam.

What are the repayment terms for Paymentsave.co.uk’s cash advances?

Paymentsave.co.uk states their cash advances offer “Flexible repayment” options, designed to fit business needs, typically implying deductions from future card sales.

How quickly can I get funds from a Paymentsave.co.uk cash advance?

Paymentsave.co.uk claims “Quick funds: Get the cash you need in 24-48 hours” for their merchant cash advances.

What alternatives exist for Sharia-compliant payment processing?

Alternatives for Sharia-compliant payment processing include providers like SumUp, Square, and Zettle by PayPal for their core payment services while carefully avoiding their interest-based financing options, and specific Sharia-compliant payment gateway providers if available in your region.

What are Sharia-compliant alternatives for business financing?

Sharia-compliant alternatives for business financing include Murabaha cost-plus financing, Musharakah profit-and-loss sharing partnerships, Ijarah leasing, and Qard Hasan benevolent loans, typically offered by Islamic banks or ethical financial institutions.

How do I cancel a Paymentsave.co.uk contract?

To cancel a Paymentsave.co.uk contract, you should first review your signed service agreement for cancellation clauses, notice periods, and potential early termination fees.

Then, contact their customer support, ideally providing written notice of your intent to terminate. Chidog.com Reviews

Are there early termination fees for Paymentsave.co.uk services?

Yes, like many payment processing providers, Paymentsave.co.uk contracts often include early termination fees if you cancel before the agreed-upon contract term ends. Review your specific contract for details.

What is the Trustpilot rating for Paymentsave.co.uk?

Paymentsave.co.uk prominently displays an “excellent rating on Trustpilot” on its website, indicating positive customer reviews for their services.

Does Paymentsave.co.uk support contactless payments?

Yes, Paymentsave.co.uk offers “Seamless payment options” that accept chip-and-pin, contactless, and mobile wallet payments.

Can Paymentsave.co.uk integrate with EPOS systems?

Yes, Paymentsave.co.uk states their EPOS systems are designed to “Streamline operations with POS systems that integrate perfectly with your card machines.”

Is Paymentsave.co.uk suitable for all types of UK businesses?

Paymentsave.co.uk aims to serve various UK businesses, including retail stores, restaurants, and mobile services, with tailored payment solutions.

However, for businesses adhering to Islamic financial principles, their offering of interest-based merchant cash advances makes them unsuitable for comprehensive financial partnership.

Partners

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