I might need to set up a merchant account for a new website I'll be working on. What's the cheapest merchant account? Also is it wise to get a merchant account simply based on how cheap that is? What features should I check? (By the way, this is for a hotel website.)
depends on u r location if US i would suggest yahoo merchant you also have the option of yahoo cart & payment gateway services
yahoo merchant? restricted product that can sell there and high cost for payment process gateway, because yahoo merchant only work with paypal and chase
Yahoo is a bit more proprietary than most want to deal with. Last I checked you also have to give them a percentage of all sales which is completely rediculous. Checkout this article I wrote a while back on low rates: http://www.merchantaccountblog.com/archives/277 Shopping on the lowest rate is probably the easiest way to get ripped off because there are so many other areas processors can hide fees. What exactly are you selling, reservations, advertising, actual rooms, etc? Also, are you based in the US or another country? The best bet is usually to go with a good merchant service provider, and use a payment gateway like authorize.net. This will be the easiest to customize for you, and you won't be locked into any proprietary system.
every merchant/gateway services charge a fee for the transaction & yahoo is the lowest compared to any gateway services in India but yahoo merchant is not available in India. check out ccavenue they charge around 5% to 7% for every transaction depending upon your account type & they r based in pune
As I know yahoo merchant solution is not enough, you will have to get a payment gateway and another merchant to use. I dont really understand how it works, I think yahoo merchant solution is just an online store, that all
Merchant account cost can vary depending on your credit score, and what bank/ISO you go through. Also, You'd likely have an easier time finding a Merchant Account if you had a business presence/incorporated in the EU or North America. In the US you can do this through Delaware, Nevada or Florida, and in the EU I believe Gibraltar.
Being that it is a hotel website, you ar already going to have a few issues. Don't rely completely on price for this, but reliability and stability. You might find a company that offers you a very low rate but only opened last year. Now you will probably have more problems with this company and it will probably cost you more money and time.
Quantum Gateway is who we use and they are pretty cheap and have more flexibility than Authorize.net in my opinion. I would also recommend CDG Commerce as far as a merchant processor. Been using them for over four years now and they are excellent and have amazing rates. I have a 1.89% discount.
Do you have the rates on quantum because I couldn't find it on their site? Thanks any other merchant processors?
Cyber, check out: http://www.ecsuite.com/payment-gateway-services.php Merchant account pricing isn't set in stone I believe, I can PM you contact info for EC Suite's Merchant Account specialist if you like. Good Luck~
We pay $7/mo through CDG Commerce (who developed Quantum) You can go to the Sign up page and inquiry though.
Actually Yahoo!® is an electronic payment gateway. You usually will get a merchant account from Chase / Paymentech. Or you can use any merchant account provider that that is compatible with First Data Merchant Services' Nashville platform.