Accepting payment to your bank account from ecommerce site

Discussion in 'Payment Processing' started by qwestcommunications, Apr 9, 2008.

  1. #1
    I would like to know how can accept payments made by customers using credit and debit cards. At the moment I am only accepting paymnents via paypal, but since most people pay by credit/debit card, I am potentially missing out on quite a few customers.

    I know they charge fees on an any transaction made, but I also see they charge a monthly fee irrespective of whther someone has purchased. Are there any that only charge on transactions by taking a small percentage of the transaction fee just like Paypal?
     
    qwestcommunications, Apr 9, 2008 IP
  2. nethelp

    nethelp Peon

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    #2
    I'm using 2Checkout.com for my customers that don't want to pay via PayPal or they don't have a PayPal account.
    To pay via 2Checkout you don't need to sign up for any account. There is one activation fee of $49 one time signup fee ,$0.45 per Sale ,5.5% of Sale Amount see more at: http://www.2checkout.com/community/about/

    I'm very happy with 2Checkout!
    To your success!
    Robert
     
    nethelp, Apr 9, 2008 IP
  3. Western

    Western Well-Known Member

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    #3
    2checkout is good but its expensive googlecheckout seems to be better
     
    Western, Apr 9, 2008 IP
  4. saurabhj

    saurabhj Banned

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    #4
    I'll prefer Google Checkout and Authorize.Net
     
    saurabhj, Apr 9, 2008 IP
  5. qwestcommunications

    qwestcommunications Notable Member

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    #5
    The thing is I am using Cubecart for my site, would I able to integrate one of 2checkout, Google Checkout into Cubecart. How does Google checkout work and what are their fees? I see Cubecart supports 2Checkopit and Authorize.net but not Google Checkout. Also, do these payment systems process payments from all over the world?

    Update: I can't find the fees and charges for Authorize.net. Does anyone know? It seems Cubecart does not support Google checkout yet.
     
    qwestcommunications, Apr 9, 2008 IP
  6. eddy2099

    eddy2099 Peon

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    #6
    As long as you have a Premier (for private individual) or a Business (for registered company) accounts, you would already be able to accept credit card payments apart from paypal balances from your customers. There is no monthly fees for this unless you opt for the higher end Website Paypal Payment Standard/Pro facility.
     
    eddy2099, Apr 9, 2008 IP
  7. qwestcommunications

    qwestcommunications Notable Member

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    #7
    eddy2099, Are you talking about Authorize.net? If so, what are their fees on purchases?
     
    qwestcommunications, Apr 9, 2008 IP
  8. eddy2099

    eddy2099 Peon

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    #8
    No, I am talking about Paypal. You did mentioned that you currently have a Paypal account and can only accept Paypal payments. What I wanted to do was to correct that statement to say that Paypal (Premier/Business) accounts you to accept both Paypal balances and Credit Card Payments (without the need for your customer to sign up for an account but they have to be from one of the 190+ supported countries).

    If however you are looking for a merchant account and a credit card payment gateway, there would usually be monthly fees, the fixed portion and the variable ones as percentage of sales. That is on top of what the bank charges for processing each transaction. In the end, if you do not have substantial volume of sales, it may not be a worthwhile venture and would be more expensive then using one of the available 3rd party payment processor which only charges fees on each successful transaction.
     
    eddy2099, Apr 9, 2008 IP
  9. jestep

    jestep Prominent Member

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    #9
    Just to clarify ,authorize.net is only a payment gateway. It essentially links your website to your merchant account. You would also need a merchant account which your authorize.net account would be programmed with.

    As far as cost vs. gain it goes several ways. A traditional merchant account with a seamless integration into a website is far more professional than having your visitors leave your site to pay with Paypal. With typical online "retailers", I see a switch when they add a merchant account and authorize.net or another gateway. Sales generally go 80 - 90% through the merchant account and the remainder through paypal when they are offered side-by-side. FOr digital stuff and many services people with go 80% through Paypal. This really depending on what you are selling and who your customers are.

    The cost is relatively comparable to Paypal but as eddy2099 stated there are additional fixed fees that you would see that Paypal does not have. Generally you would have a monthly gateway fee (Authorize.net is normally $10 - $20 per month). You would also have a statement fee with the merchant account which is normally $5 - $10 per month, and depending on the provider, possibly a monthly minimum. I would completely stay away from any provider with any other fixed monthly, yearly or maintinence fees.

    As for actual fees, they are similar to paypal, but there are additional things like downgrade charges that you don't see with paypal (Paypal can absorb these into a flat percentage) while traditional providers cannot. If you are doing a few thousand dollars per month, it is normally justifiable to use a merchant account. I do however recommend to offer paypal as an alternative payment, as there are still many online shoppers that prefer to use it.

    If you want a few good places to get info on merchant accounts check out these sites:
    http://www.merchantaccountblog.com/
    http://www.merchant-account-services.org/
     
    jestep, Apr 9, 2008 IP
  10. qwestcommunications

    qwestcommunications Notable Member

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    #10
    I guess I will just upgrade my paypal account to accept credit card payments. I am not a big seller by any means and tehrefore really can't justify paying all those extra charges with payment services like Authorize.net.
     
    qwestcommunications, Apr 9, 2008 IP
  11. articledirectory

    articledirectory Peon

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    #11
    I know there are many google checkout mods for oscommerce and seeing as cube cart is a derivative of oscommerce you should be able to integrate google checkout into your store quite easily.
     
    articledirectory, Apr 9, 2008 IP
  12. qwestcommunications

    qwestcommunications Notable Member

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    #12
    OK. I can now accept credit card payments using Paypal. However, do the people paying by credit cards have to be paypal account registered in their names or can they make credit card payment even of they don't have paypal account?
     
    qwestcommunications, Apr 10, 2008 IP
  13. eddy2099

    eddy2099 Peon

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    #13
    All they need to be is to belong to one of the 190+ Paypal Supported Countries and have a credit card, they do not need to be paypal members or even sign up as one if they do not want to. Of course, at the end of the purchase experience, they will be invited to sign up for an account but it is not compulsory.
     
    eddy2099, Apr 10, 2008 IP
  14. qwestcommunications

    qwestcommunications Notable Member

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    #14
    eddy, Thats great to hear. Its a lot cheaper than paying monthly fees to other payment gateways, not to metion bigger percentage of sale price.
     
    qwestcommunications, Apr 10, 2008 IP
  15. Writingcreations

    Writingcreations Peon

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    #15
    I hope you don't mind me hacking this thread but it's the closest I could come to finding an answer to my payment issue.

    I may be taking on a copywriting client who is in Dubai. I don't think they are listed as being able to pay via paypal which is the only method I accept right now. I do have a premier account though.

    What would be my alternatives for this client?

    Thank you and again, I apologize greatly for hacking the thread!
     
    Writingcreations, Apr 10, 2008 IP
  16. eddy2099

    eddy2099 Peon

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    #16
    Well, actually Dubai is one of the 7 Emirates which forms the United Arab Emirates (UAE). UAE is a paypal supported country and anyone from the Emirates can Send and Receive Paypal payments.

    So basically, your client would not have any problem paying you through paypal even though they are not members, they just need a credit card to do so.
     
    eddy2099, Apr 10, 2008 IP
  17. Writingcreations

    Writingcreations Peon

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    #17
    Thank you, I went to paypal and looked it all up under the worldwide link and after reading it, I was pretty sure they would be ok. Thanks for confirming that for me.
     
    Writingcreations, Apr 10, 2008 IP