How Much Can You Afford?
Businesses in the UK are required to have a BPSS (Basic Payment Security Scheme) certificate if they want to process card payments. This is to ensure that customer data is protected and that businesses are compliant with new GDPR regulations. The cost of obtaining a BPSS uk certificate can be expensive, but it’s important to remember that the cost of not having one could be even higher. We will discuss the costs of BPSS certificates and help you decide whether or not it’s worth your money!
The first thing you need to consider when deciding whether or not to get a BPSS certificate is the size of your business. If you’re a small business, the cost of getting a BPSS certificate may be relatively low. However, if you’re a large business, the cost could be quite high. The reason for this is that large businesses are required to have more stringent security measures in place in order to obtain a BPSS certificate.
Another thing you need to consider is how often you plan on processing card payments. If you only process payments occasionally, the cost of getting a BPSS certificate may not be worth it. However, if you process payments on a regular basis, the cost may be worth it in order to protect your customers’ data.
Finally, you need to consider the risks of not having a BPSS certificate. If your business processes card payments without a BPSS certificate, you could be fined up to £500,000 by the UK government. In addition, your customers could lose trust in your business if they find out that you’re not compliant with GDPR regulations.
So, how much does a BPSS certificate cost? The answer depends on the size of your business and how often you plan on processing card payments. However, we can give you some general ranges to help you budget for the cost:
– For small businesses, the cost of a BPSS certificate is typically between £100 and £500.
– For medium businesses, the cost of a BPSS certificate is typically between £500 and £2000.
– For large businesses, the cost of a BPSS certificate is typically over £2000.