Credit card processing for jewellers and watch retailers

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Libby James
Merchant Services Expert

Libby James is co-founder, director and an expert in all things merchant services. Libby is the go-to specialist for business with more complex requirements or businesses that are struggling to find a provider that will accept them. Libby is regularly cited in trade, national and international media.

Merchant accounts for jewellery shops

Jewellers selling both new and second hand goods are as popular as ever, however finding card processing can be a little tricky. This is due to the ‘high risk’ label that goes alongside jewellery merchant account applications. There are a few reasons behind this; firstly both jewellery and watches tend to be high ticket items, meaning that there are fewer transactions at large amounts which can be off putting to account providers. This coupled with the fact that the industry is renowned for fraudulent transactions, such as chargebacks, reduces the amount of banks and providers who deal with jewellery and watch transactions.

Face-to-face card payments for jewellers

Applying for an account to accept jewellery payments face-to-face is easier than doing so online and deemed slightly less ‘high risk.’ Most businesses choose to rent a card terminal, which is paid for monthly at a cost of around £17-£29 depending on the type of terminal required, for example wireless machines tend to be a little more expensive than static terminals.


Some jewellers regularly attend trade shows and events such as fates, art shows and festivals, we work closely with companies who provide portable payment solutions which work using GPRS (radio signals) just like a mobile phone, enabling transactions to be taken almost anywhere!

Payment gateways and merchant accounts for online jewellers

To accept payments online, jewellery and watch businesses require both a merchant account and high risk payment gateway. The payment gateway acts as a security net for customer card details ensuring that the do not fall into the wrong hands, it does so by encrypting the card information. Using a secure payment gateway encourages trust between the customer and merchant. There are specific providers who specialise in high risk payment gateways, however once you have found a merchant account provider obtaining a payment gateway for jewellers and watch retails shouldn’t be difficult.

Terminated jewellery merchant accounts

Banks and merchant account providers regularly assess their attitude to risk and occasionally pull away from industries currently processing with them. If you have been served notice by your current provider, this doesn’t necessarily mean that you will no longer be eligible for accounts elsewhere – speak to our terminated accounts team.


Merchant account fees for jewellers and watch shops

Trading jewellers and watch stores should look to renew their accounts regularly to ensure that they have the best merchant account available to them. An example of this is a newer or starter business tends to pay higher costs within the first two years of trading until transaction history has built. Merchant account fees are negotiable, therefore it’s important to obtain a few quotes annually throughout the life time of the business and compare on a like for like basis. Depending on turnover, we look to save our clients on average 40% on their current processing costs.


How Merchant Advice Service can help

Merchant Advice Service work closely with partners and banks to provide card processing to jewellers and watch retailers within the UK and online. Our industry experts specialise in jewellery account applications from start-up businesses to more established firms and franchises. Speak to us about your requirements today.

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Libby James

Libby James Co-founded Merchant Advice Service alongside David Bird in 2016. Her finance background, coupled with retail and customer service experience, gave Libby the drive to bring transparency and non-biased advice to the world of merchant services. Having come from the heavily regulated mortgage and insurance industry, Libby found it puzzling that other financial sectors lacked regulation and transparency leaving customers confused and unable to make informed decisions when it came to accepting card payments. This was soon to become Libby’s obsession!

With the help of some of the industry’s best, Libby began to research acquiring banks, complex terminology/regulation, and the problems customers experience within merchant services and payment gateway markets. She spent years on sourcing solutions for complex clients, which previously others were unable to assist with. Libby established relationships with brokers and banks which would soon form the cornerstone of Merchant Advice Service. As a result Libby has been featured in high-profile publications across the web.

Libby is proud to be the entrepreneur’s champion, supporting start-up businesses regularly. Her industry insights can often be found on LinkedIn where she provides free of charge advice and money saving pointers. It’s safe to say she has her finger on the pulse of everything card payments related.

Libby speaks of her experience in founding and running Merchant Advice Service…

‘Merchant Advice Service is one of my greatest achievements to date. We help business owners to overcome card processing issues which can become detrimental to their business. We assist SME’s in finding suitable card payments solutions, helping them create their vision. Each and every day is different, exciting and fore filling. As technology advances I can’t wait to see the way in which the merchant services market advances, and I’m pleased that our business will play a part in educating company owners along the way.’

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