On 8/16/00, Robert Everland penned:
> I am looking to include credit card processing on my site soon and
>was curious as to who anyone out there recommends. Also I am looking to see
>how the payment system works. Do you have an account they transfer the funds
>into electronically, do they trasnfer the funds immediately to a bank
>account of your choosing, or do you get a check each month for the
>transactions that were processed. Please no flaming companies, I just wish
>to get recomendations.
We have one account with Merchant's Choice Card Services and are
opening another with Merchant Express (merchantexpress.com).
The latter offers some pretty competitive Internet/Mail Order rates
of 2.15% (qualified) and so far the application process has been
rather painless. Only a 75.00 (refundable) application fee. Look out
for companies that charge 250.00 and up for an application fee with
no refund if you're declined.
Both companies use authorizenet, which in my opinion is the least
painless to set up real time processing with. At least of the several
I've worked with.
The charges you can figure on paying are, and will vary slightly from
company to company:
1. Application fee: 75 - 300.00
2. Authorize.net or other gateway service: 500.00 one time fee. (stay
away from the leases)
3. 15.00 per month gateway fee
4. 2.15 - 3.5% per transaction (discount rate) based on your credit,
type of transactions, etc. (sex sites, auction sites and others will
result in a high discount rate)
5. 10.00 per month statement fee.
6. Minimum monthly charge of 20.00- 25.00. The discount fee goes toward this.
7. Per transaction fee of 0-15 cents.
So, figure upwards of 600.00 to get set up and 50.00 per month before
you even do a transaction. :)
Funds are generally transferred within 48-72 hours straight to your
bank account.
--
Bud Schneehagen - Tropical Web Creations
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ColdFusion Solutions / eCommerce Development
[EMAIL PROTECTED]
http://www.twcreations.com/
954.721.3452
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