Worldpay serves U.S. merchants through its iQ portal. Worldpay's public pages describe iQ only in general terms, so this guide is shorter than the others. It covers where to look and how to read an acquirer statement of this type, with unverified details marked.
Where the statement lives
Worldpay's small business welcome center describes iQ as the portal that helps small businesses manage payments, operations and business insights in one place. Statements and fee reporting are accessed through it.
If your account came through a reseller or software vendor, the statement may be delivered through that vendor's portal instead.
How a Worldpay statement is organized
If your account is priced interchange-plus, the statement has the same shape as any acquirer's interchange-plus statement. If it is tiered, the interchange section is replaced by a few blended rate lines (see Credit Card Processing Pricing Models Explained).
| Section | What it contains |
|---|---|
| Summary | Sales, refunds, chargebacks, fees and net funding for the period |
| Sales by card brand | Volume and transaction counts for Visa, Mastercard, Discover, American Express |
| Interchange | One line per interchange category, each with volume, count, rate and amount |
| Network fees | Assessments and per-transaction network fees, labeled by brand |
| Processor fees | Worldpay's percentage markup, per-item fees, monthly fees, PCI, gateway, equipment |
| Chargebacks and adjustments | Disputes received, reversals, corrections |
How to tell the three layers apart is covered in Interchange, Assessments and Markup: 3 Layers of Card Fees.
Reading a month in four steps
- Find total card sales and total fees in the summary. Divide fees by sales for your effective rate. See Effective Rate: How to Calculate Your Card Processing Rate.
- Add all interchange lines and all network fee lines. That total is your pass-through cost.
- Subtract pass-through from total fees. The remainder is Worldpay's markup and fixed fees.
- Divide the markup by sales. That percentage is what changes if you change plans or renegotiate.
What to check each month
- Interchange categories that look wrong for your business, such as keyed or "standard" categories on card-present sales.
- Network fee lines you cannot match to a brand.
- Fixed monthly fees: statement, PCI, gateway, minimum, equipment.
- Chargebacks and the fee charged on each.
- A rate change notice in the message section of the statement.
FAQ
What is Worldpay iQ?
Worldpay's online portal for managing payments, operations and reporting, per Worldpay's small business welcome center.
Does Worldpay show interchange separately?
On interchange-plus pricing, interchange and the processor's own markup are listed separately. Tiered pricing shows blended rates.
My Worldpay statement came from a different company. Why?
Many merchants get Worldpay processing through a bank, software vendor or reseller, which delivers the statement under its own name.
Can Merchant Statement Analyzer read a Worldpay statement?
Yes. Upload the monthly PDF statement or the fee report export.
See every Worldpay fee explained
Merchant Statement Analyzer is free. Upload last month's Worldpay statement to the analyzer and see interchange, network fees and markup separated, your effective rate, and what other pricing plans would have cost on the same transactions.
Sources
- Worldpay, Small business welcome center (iQ description): https://www.worldpay.com/en/resources/small-business-welcome-center
- Visa, Regulations and fees for small business (interchange definition): https://usa.visa.com/support/small-business/regulations-fees.html
- Mastercard, Interchange rates and fees: https://www.mastercard.com/us/en/business/support/merchant-interchange-rates.html
- Chase, Merchant payment statements (typical acquirer statement sections): https://www.chase.com/business/support/payments/merchant-payment-statements