Online Payment Processing

[katelj]

Hi Everyone,

I'm looking for an online payment processing system. I've applied to PayPal (payments pro) but they're taking ages to get back to me!

Anyone have any suggestions? Ideally I need one that doesn't require a merchant ID number. So far I've found Nochex which doesn't seem too bad.

Thanks,
Kate

[accent]

This is a tough one. Paypal is a very expensive way of doing things not to mention that the general concensus is that Paypal's way of handling accounts is dubious.

I considered all the options and in the end applied for a merchant account via my bank who were only too happy to oblige. I now process credit cards at 1.3% and debit cards at 20p. A dramatic saving over those services who don't require a merchant account.

On top of that I use Protx as my Payment Service Provider, and so far they have been excellent. Well, maybe with the exception of the recent 3D Secure implementation.

If you have any chance of getting a merchant ID, I highly recommend this route, the alternatives are not particularly appealing.

[tarakate108]

Who's your bank?

That's a damn cheap percentage I'm sure. What bank you with?

[accent]

HSBC but I also spoke to Streamline and Barclays, of those, HSBC offered the best rates, but it's worth shopping around. I do have trading history however which always helps.

The approval rate depends on what you're selling and your average transaction value mostly.

With 3D Secure, you're less exposed to chargebacks too, so I think the banks will be a bit easier on the small trader in the near future.

[accent]

Sorry for a second post but I noticed someone saying the rate was cheap.

Basically, dont take the initial rate they offer! Negotiate, bend their ear, they will come down!

It's worth mentioning that this is for an e-commerce merchant ID with MOTO, not a PDQ/terminal.

[tarakate108]

Sorry, still learning, what's MOTO?

Mail Order Telephone Order

[accent]

Mail Order Telephone Order.

It means I get a virtual PDQ provided by Protx to process transactions manually if required i.e. web site is down or someone buys something offline.

[tarakate108]

Oh ok, thanks! So many acronyms in business IMO.

Originally posted by tarakate108
Oh ok, thanks! So many acronyms in business IMO.

lol, sure is tbh its all a bit ott imho

[ILuvBiz]

Originally posted by accent
If you have any chance of getting a merchant ID, I highly recommend this route, the alternatives are not particularly appealing.

I would agree with accent on this one - I looked at all the options when setting up my website and went along the merchant route in the end. My PSP is Secpay (www.secpay.com) who have been great, and with Barclays Business for the merchant account (ok-ish). One thing to keep in mind if you do use the alternatives is the time it takes for the money to hit your account - with some it's as long as 30 days - a potential cashflow issue to consider...

[aguynamedmo]

A quick solution

Google Checkount . 1.5% transaction fee + 15p - no merchant id required.

Alliance and leicester offer a good merchant ID for 100 quid when i last rang around

avoid streamline and worldpay like plague - its effective robbery the amount that little joint op charge

[accent]

Secpay is the only real alternative to Protx in my opinion.

With regard to the clearing times for credit card transactions, with HSBC I get clearance in 3 days on average but some merchant accounts take much longer depending on the acquiring bank. As ILuvBiz says, other services can also have extended clearing times up to 30 days, time for them to invest your money and make a quick profit no doubt.

[analogue]

I've used protx which is pretty good although dodgy people obviously think it is easy to hack as I get people trying to order loads of stuff from my site with dodgy credit cards, they actually search in google for "protx t shirts shop" when they come to my site, I assume if you have the settigns wrong you can allow payments form them.

I would have a look at google checkout, as an alternative to paypal, you don't need a merchant ID