Are there any merchant account companies that don't charge a monthly fee?

Discussion in 'Payment Processing' started by knoxconstruction, Aug 27, 2009.

  1. #1
    I am lookinf for a way to accept credit cards on my ite without having to redirect to a third party.

    Is there any that don't charge a monthly fee and simply take a percentage?
     
    knoxconstruction, Aug 27, 2009 IP
  2. ViciousSummer

    ViciousSummer Ayn Rand for President! Staff

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    #2
    Paypal does not charge a monthly fee and they can be set up to accept credit cards on your site (no 3rd party redirect). But a company that doesnt charge you a monthly fee will just jack up the other fees in order to make up the difference. Personally I use authorize.net for credit card transactions. The monthly fee is only $10.
     
    ViciousSummer, Aug 27, 2009 IP
  3. knoxconstruction

    knoxconstruction Peon

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    #3
    I realise that I would have to pay in someway but it is more cost effective to pay a small percentage on each transaction. Certainly in the early days anyway.
     
    knoxconstruction, Aug 28, 2009 IP
  4. Digital_shubhi

    Digital_shubhi Illustrious Member

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    #4
    You should use PayPal as its safer. popular, widely used and also doesn't charges any fee.
    It would be good for you ! :)

    - Digital -
     
    Digital_shubhi, Aug 28, 2009 IP
  5. chandan123

    chandan123 Prominent Member

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    #5
    if i purchase a product of 100$ from your site via authorize.net how much money you receive ? whole 100$ or any deduction with that transaction ?
     
    chandan123, Aug 28, 2009 IP
  6. knoxconstruction

    knoxconstruction Peon

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    #6
    I do use paypal, I just feel it puts people off.
     
    knoxconstruction, Aug 28, 2009 IP
  7. Digital_Scientists

    Digital_Scientists Peon

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    #7
    You might be able to find a merchant account that doesn't charge a monthly fee, but all I can tell you is that it will most likely always have higher percentages if that is the case.

    Most merchant accounts are only $20-30 per month, so if you're flowing even a small volume of sales though it, it should still be a better deal than any merchant account with higher percentages.
     
    Digital_Scientists, Aug 28, 2009 IP
  8. arcadie

    arcadie Peon

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    #8
    Unfortunately your not going to find this without paying an outrageous discount rate.
    Paypal pro charges $30 per month plus a pretty high discount rate.

    If you are doing any type of volume at all, your better off going with a monthly fee rather than one of these MSP's that charge 3.5% + 30 cents and only a $60 yearly fee. For example if you do just $5,000 in sales, You will end up paying $65 more in processing fees per month to save $20 a month on statement fee's. Doesn't make a lot of sense. :)
     
    arcadie, Aug 30, 2009 IP