That's definitely not the norm. Most places don't require any sort of contract.Keep in mind though, that if you decide to get one, you have to sign a 6 month contract and whenever you cancel, you have to pay a $75 fee.
it seems there's alot of negative feelings about paypal... i'm not a huge fan at all... however, in canada it seems they offer one of the best rates and easiest ways to establish an ecommerce site that actually competes with many american rates... im not sure why but almost all of the good 'paypal alternative' merchant accounts listed on this site and else where are only available to US-based merchants...there are canadian ones but there rates and monthly fees tend to be alot higher for small businesses starting out with uncertain or growing sales figures.I also don't shop online with guys that accept PayPal only. It just make them seem less professional or established.
I dunno... I used PayPal and eBay for probably 3 years... and suddenly realized I was giving them (eBay) just over $1.00 on EVERY sale I sold... and around 25 cents on everything that didn't. I was lining their pockets.i've heard many times- in general terms- the US market tends to be more favorable towards the upstart small business entrepenure type where canada tends to be more conservative and by the book... you guys were the guerilla revolutionary ones after all.
but either way, if i dont know how much im gonna sell at first, wouldnt a paypal be a better option since i dont have to pay any monthly fees?
Keep in mind, that they were also lining your profits. you got to put an item up for sale with zero advertising and have it sold. Time and time again. You got to accept payments from dozens of buyers without waiting.I dunno... I used PayPal and eBay for probably 3 years... and suddenly realized I was giving them (eBay) just over $1.00 on EVERY sale I sold... and around 25 cents on everything that didn't. I was lining their pockets.
it seems its impossible to stand on your own with big banks and big credit card companies (and big government) involved in every move you make... its like rodney says the cost of doing business in this economy...EBay and PayPal have their place, but when you realize you're handing thousands of dollars over each year, you'll eventually come around to the value of standing on your own.
But you're still handing thousands of dollars over to somebody. Whether you hand it over to PayPal for their payment processing or whether you and it over to your bank for their payment process, it's just a cost of doing business.That's true Rodney. But, at some point you have to take a business seriously, and consider how you're perceived as an important part of your business.
EBay and PayPal have their place, but when you realize you're handing thousands of dollars over each year, you'll eventually come around to the value of standing on your own.
Best rates will probably be your bank. I use my bank and they go through Authorize.net. I have pretty good rates. Much better than PP..plus PP will want to hold 20% of your money for 90 days-eek!I want to accept credit cards only on my website. I want to get the best rates possible, but I also want protection.
What is my best option?
I am confused. What is the difference between a merchant account, a payment gateway and a server like paypal.