Frequently asked questions

All major debit and credit cards including Mastercard, Visa, and American Express (with a separate agreement.)

Yes. All our terminals are easy to install, and we provide freephone support should you have any issues.

Our mobile card terminal battery will last up to 8 hours on a single charge (when taking back to back payments). The battery life will last longer if not in constant use.

Yes. All our card terminals have contactless built-in including Apple Pay, Google Pay, and Samsung Pay.

Yes. All our card terminals support Card Not Present transactions.

Our freephone helpdesk is available 7 days a week and if your terminal is not working, we will send you a new one.

No. With Woohoo Merchant, whether you choose our Pay As You Go or Pay Monthly options, there are no setup fees or hidden costs for taking payments. For PCI-DSS compliance certification you can optionally choose our simple Safer-payments PCI service, but you are free to supply certification details from another provider.

We do everything we can to help you to avoid charge-backs – find out more about how to do this here. However if a charge-back does occur, an administration fee of €15 applies. (This will be returned to you if the charge-back is unsuccessful.

Sale Refund Reversal Pre-auth Cash back Gratuity / Tips Contactless Mobile payments – Apple Pay, Google Pay and Samsung Pay Chip & PIN Swipe / Magstripe cards Card Not Present / Over the phone Comprehensive End of Day reporting: – Sales by card type – Contactless sales by card type – Refunds by card type – Cash back totals – Gratuity / tip totals (including waiter totals if enabled)

Unplug power, wait for ten seconds and then reconnect. Check all cables are firmly connected or battery pack is firmly in place. Check internet or phone line is working.

Loans are available from €10,000. The amount you are eligible for will depend on how much revenue you take by debit/credit or online payments. For typical businesses, this would mean a minimum card income amount of €10,000 per month.

Business loans are designed to be short-medium term finance and are most suited for working capital purposes. The loans are designed to be a rolling credit facility over time and once onboarded you will be building up information and credit history with Wp to support further applications. Each individual loan(s) runs over 12 months but we can design funding solutions with multiple drawdowns over time (tranches). You can apply for additional facilities at any time during the course of your Wp loan by simply accessing your Wp account, Wp will also contact you when you have repaid your current loan sufficiently to invite renewal applications.

When our team have a complete application, approval can be given within 24 hours. To complete the online loan documentation and to set up your flexible repayments, this may take 3 – 7 workings days, after which we will transfer your funds to your nominated bank account.

We know that your time is limited which is why we have made it easy for you to apply 24/7 from the comfort of your own office, premises or home. Apply online by completing some simple information about your business and uploading easy to access supporting up to date documents. This is best completed on your desktop computer for ease of uploading documents.

The application itself takes 3 minutes to complete online. At minimum, you will be asked to upload 6 months up to date bank statements, 1 months most recent merchant statements Up to date tax clearance cert (or letter from your accountant if no tax cert is available) – to make the process easier this can also follow the approval process, prior to the loan being funded For larger loans, we may also require audited financial accounts and management accounts. For more details please check our FAQ “What are the Wp product types and information requirements?”.

Yes, you can have more than one loan facility with Woohoo Merchant. the WM Team will assess all existing facilities and debt before approving a new loan. Depending on your current repayment levels with us, we may need to refinance your balance to ensure there is no pressure on your ability to repay on a daily basis and manage your cashflow. The further you are through you are repaying your loans the better value you secure from the finance.

There is no formal security such as property required for the loans. In all instances we seek a personal guarantee from the signatories of the loan. For larger loans we may also seek a deed of assignment over the merchant/card receivables. More details are provided in our FAQ “What are the Woohoo Merchant product types and information requirements?”.

WM have partnered with Fire Financial Services to provide WM customers with a free smart settlement account. Fire Financial Services is a digital payments processor that is regulated by the Central Bank of Ireland. To learn more about Fire Financial Services and our partnership.

1. We review your last 6/12 months of card volume and set the % based on that. If we expect seasonality we apply an additional % (Buffer%) to ensure that the loan is repaid on time. A buffer % may also be applied if the case is deemed higher risk. 2. The loan is designed to be flexible so at different times of the year the loan may be behind target and at other times it may be ahead but we are okay with that as we set the overall % to ensure the loan is repaid on time. Example: 1 Amount of loan: €30,000 YOUR CARD VOLUME: Average monthly Card Volume as assessed during credit review: €39,652 Based on 240 working days per year this implies daily credit card receipts of 1,983. YOUR REQUIRED REPAYMENTS: Amount to be repaid over 12 months: €33,600 Based on 240 working days per year this implies a daily repayment of €140 €140 per day as a % of €1,983 us 7%. As we only received 6 months bank statements and the business is highly seasonal an additional buffer % of 2% has been applied. The final batch % is 9%.

There are no hidden fees on a Wp business loan. The cost of your loan is made up of two items. The first item is the Wp Arrangement Fee, this is fixed at €5 per €100, for instance a €10,000 would translate to a Wp Arrangement Fee of €500 (excl. VAT). This is only charged when you drawdown the facility and we will incorporate this into your loan so you receive the full €10,000 you have requested The second item is the Cost of Capital, this is determined by the term and amount of the loan.. The Cost of Capital depends on your product type but for our most common loans are typically 1% cost of capital per month so depending on the term that is requested and agreed but for a 12 month term this would be €1,200 (12%) (no VAT charged) or €600 (6%) for a 6 month term. All There are no hidden fees on a WM business loan. The cost of your loan is made up of two items. The first item is the Wp Arrangement Fee, this is fixed at €5 per €100, for instance a €10,000 would translate to a GRID Arrangement Fee of €500 (excl. VAT). This is only charged when you drawdown the facility and we will incorporate this into your loan so you receive the full €10,000 you have requested The second item is the Cost of Capital, this is determined by the term and amount of the loan.. The Cost of Capital depends on your product type but for our most common loans are typically 1% cost of capital per month so depending on the term that is requested and agreed but for a 12 month term this would be €1,200 (12%) (no VAT charged) or €600 (6%) for a 6 month term. All Wp Lite and Lite+ Products operate at a fixed cost of capital of per month and Wp Growth products are priced on risk so may vary slightly depending on the output of the underwriting assessment. For more details please check our FAQ “What are the Wp product types and information requirements?”. Lite and Lite+ Products operate at a fixed cost of capital of per month and Wp Growth products are priced on risk so may vary slightly depending on the output of the underwriting assessment. For more details please check our FAQ “What are the Wp product types and information requirements?”.

The loans are designed to be flexible so that it will flex with your business cashflow and there are no fixed monthly amounts to be paid. If you have a quiet period in your business for 3 months then you are paying less in that period and the loan will catch up during your busier period. We simply charge an interest rate for the period at the outset of the loan based on the term for simplicity purposes.