juve20

hi guys

ok let me see if i have this right:

Shopping cart > payment handler > merchant account ????

thing is, Protx (the payment handler) charges 10p per transaction and the merchant account charges 2% per transaction (HSBC)

is there anyway of doing it cheaper? why cant i use a normal buiness account and not a merchant one? is that not what the payment handler is for??

i know paypal is an option. i'll be providing that too, but would rather have a main payment gateway too look more professional.

also, does anyone know of a better (cheaper) merchant account provider in the UK?

thanks
tony

 

Reply With Quote

slater9000

Hey,

Heres how it works, Shopping Cart -> Online Payment Page -> Completion Page

Normally Protx provide you with a payment page, or if you have a Secure Server you can have the payemnt page on your server (you just send the details securely to protx to verify).

Now, charges. For a standard setup youll be looking at:

Protx: £20+vat p/m (protx charge 10p per transaction only if your taking over 1000 transactions per quarter)
Merchant Acc: 2 - 4% on CC's or 30p - 60p on Debit Card's (normally there will be a £20 minimum account activity charge p/m with them too)

2% is quite cheap for processing cards esp if your a totally new to web customer, most new customers will be offered between 2.5-4% (dependant on business risk) then you re-negotiate yearly.

Yes, you will definately need a merchant account if you want to accept DB/CC online, this is not so much a bank account, more of a account that aquires the funds from your customers accounts and transfers it to your business account.

Paypal? well paypal is free to setup and a lot of users prefer to use it as its percieved as more safe. However their transaction fees depend on t/o and start at 3.9% until you get over £15k within a rolling 3 month period, after that it drops in tiers. you can find the info on the tiers in the merchant section. The only other issue with paypal is it takes a bit longer to get the funds into your account.

If you need any advice on intergration pm me.

(imho, its always better to offer both PayPal and CC/DC as payment options)

Regards,
Andy

 

Reply With Quote