Fed members can play their cards right with Lopay deal

The Federation of Independent Retailers (the Fed) has teamed up with payments provider Lopay to offer members preferential card processing rates that could save typical businesses almost £3,000 a year.

From September 15th, Fed members will have exclusive access to the free Lopay Zero Card. For every £1 a member spends on stock through the Zero Card, at their usual wholesalers and cash & carries, Lopay will process £1 of customer card payments with zero processing fees. Members don’t need to change how they buy stock to benefit. It’s the everyday spend they already make that unlocks the savings.

Combined with the Fed’s preferential Lopay rate, the offer also includes a free business account with instant access to card takings, a card terminal from £9.99 a month with fully transparent pricing, and no contracts or exit fees, so members can switch with confidence, and leave just as easily if it isn’t right for them. Onboarding and ongoing support are UK-based.

Lopay founder and CEO Richard Carter said: “For businesses, combining the Fed’s preferential Lopay rate with the Zero Card could mean reducing the amount they spend on payment processing by 60 to 70 per cent or more. And those savings add up quickly.

“For a typical business paying around £300 a month in card processing fees, Lopay and the Zero Card could bring that figure down to around £55 a month – putting almost £3,000 a year back into the business.”

The Fed’s National President Hemanshu Patel said: ““At a time when the cost of trading is rising, we are pleased to have teamed up with Lopay to give Fed members access to preferential rates and an additional way to potentially reduce their card processing costs. As with any business service, we would encourage members to look at the offer carefully, consider their own circumstances and make sure it is right for their business.”

Lopay is already trusted by more than 40,000 UK businesses and holds a 4.7-star rating on Trustpilot from over 2,600 customer reviews. One independent convenience retailer already using the Zero Card has seen its monthly card processing costs fall from around £240 to about £70, a saving of close to 70 per cent, without changing the way it buys stock.

Fed members can find full details of the offer, including a short explainer video, at thefedonline.com/partners/lopay.