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Create the future you want! Learn to make money online. Visit our website and start today! www.exclusivebizopps.com Accepting Payments Online: Merchant Accounts vs. T
Accepting Payments Online: Merchant Accounts vs. Third Party
Credit Pacific Service Union If you want to sell online, you need to be able to accept credit card payments. The traditional way is to open a merchant account. However, opening a merchant account is expensive, especially for small businesses who are just starting. and Merchant Account resellers with a free shopping cart that has an easy payment gateway reseller sign up form. Credit card processing resellers or affiliates by credit card processing gateway resellers. You can apply for the best Merchant Account Reseller program or a free shopping cart to accept credit cards online right now with the lowest internet merchant account rates. Our merchant account reseller program has three options! Credit First Service Union In the last few years, however, a number of companies have entered the market with a new concept: third party credit card processing services (for example, Paypal). This option offers small businesses a quick and easy way to accept cretit card payments. It by-passes the need to open a merchant account, plus, the sign-up process is much easier and faster: you can literally sign-up, be approved and start accepting payments online in minutes. (click on images for larger view) If you are based in the United States and are looking for a merchant account and payment processor, we have partnered with Cardservice International to provide services to our customers. A merchant account is a business bank account that allows you to receive credit card payments from your customers. You cannot deposit credit card funds directly into a personal bank account. Payments received from credit cards must be deposited in a merchant account before being allocated to your personal or business account. Card Credit Mobile Service Traditional merchant accounts are expensive primarily because they charge fixed fees that you will have to pay even if you don't sell anything.
Card Credit Discover Service For example, depending on the case, a merchant account will require that you pay: (Merchant account required) A Payment Gateway Connects your eCommerce website to the credit card companies and your merchant account, allowing you to accept credit cards and other forms of electronic payment. Not required PayPal Payflow Pro Gateway is included, or you can select your own. PayPal Payflow Pro Gateway is included, or you can select your own. Although fees are typically charged by payment gateway providers, with Web.com eCommerce packages, you receive the gateway service for free! No gateway fees No gateway fees Credit Public Service Union An application fee (whether you are approved or not) The pricing for Rodopi Payment Gateway ranges from $34.95 per month for 1, 000 transactions to $995 per month for an unlimited number of transactions. Rodopi Payment Gateway is the perfect link between online merchants and credit card processors. Online merchants need a "gateway" for processing credit card transactions because credit card processors won't open their infrastructure to the Internet due to security concerns. Rodopi Payment Gateway is easily integrated to provide online merchants with a secure, fast and reliable way to process credit card transactions. Card Credit Processing Service If your sales volume is not very high, a third party service can save you money. Center Credit Service Union For example, lets assume that you make 10 sales a month at $25 per sale, to compare the merchant account option vs. the third party option: Card Credit Service Wireless If a merchant account charges you a $25 montly minimum fee, $50 in gateway and connection fees, a discount rate of 2.0% of sales, and a fee of $0.30 per transaction (for simplicity's sake we're not factoring in any application fee or set-up fee), the charges you would have to pay your merchant account provider amount to $83.00. Credit Security Service Union If you use a third party service that, like Paypal, charges you 2.9% of sales plus $0.30 per transaction, it would only cost you $10.25. Credit Report Service However, the advantages of using a third party service start to diminish as your sales start growing. In other words, since the discount rate charged by traditional merchant account providers is lower than the percentage of sales charged by third parties, the higher your sales the more the fixed fees of the merchant account will be offset by its lower discount rate. Blogspot Com Christian For example, let's assume that instead of making 10 sales per month, you make 1000 sales, at the same $25 dollars per sale (total sales per month: $25,000). You will then have to pay your merchant account provider $850.00 (the $25 minimum will be waived because the dollar amount of the discount rate will be greater than $25). Christian Counseling Credit If you use the third party service, you will pay $1025 for the same $25,000 in sales. Credit Federal Service Union Your break even point in this example would be 222 transactions (sales) of $25 dollars each: if you make 222 sales or less, you would be better off with a third party service. If you make 223 sales or more, your best bet would be a merchant account. Credit Monitoring Service In summary, the more you sell the more you should consider opening your own merchant account. However, if you are a small business just beginning to market your products on the net, or if you want to start quickly and don't expect huge sales in the near future, you may want to go the third party route. Credit Division Service The two best known third party credit card services among web marketers are Paypal and Clickbank. Card Credit Online Service PayPal began in 1999 as a tool for transferring money for payment in eBay auctions and is currently the most popular online payment system of its kind, with over 35 million accounts at the time of this writing (December 2003), and a fee structure of 2.2% - 2.9% of sales plus $0.30 per transaction. Consumer Counseling Credit Inc Clickbank specializes in serving web marketers that sell digital products, which are directly downloaded from the Internet. These products are offered through Clickbank's extensive network of over 100,000 affiliate sites. Merchants of digital products simply place a sales link on their site and Clickbank handles the credit card processing. At the time of this writing, Clickbank charged a one time $49.95 set-up fee, a processing fee of 7.5% of sales and a $1 fee per transaction. Card Credit Fleet Service In summary, check all your options first and choose the one that is most likely to fit your needs in the long run. Remember that cost is only one of the variables you should consider in your analysis. Spending some time visiting the websites of merchant account providers and third party credit card service providers, and doing your due diligence early, can save you thousands of dollars in the future. Card Consolidation Credit Credit Free Online Report You can freely reprint this article provided that you include the following resource box: Credit Federal First Service Mario Sanchez publishes The Internet Digest Share this:
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