Does anyone else here use any other payment processing besides PayPal, AlertPay, 2CO, etc. For example: Does anyone still use Authorize.Net - why or why not? I think its more convenient for people to purchase something without leaving your site. Although there is the fear of "chargebacks." What's your take on Authorize.Net???
There are about 3 different options among the millions of companies to choose from regarding your payment processors. 1. 3rd Party Processors (Paypal, 2CO, etc.) 2. Local bank (your bank refers you to a MSP[merchant service provider] 3. Go directly through a MSP [merchant service provider] 1. While 3rd party processors have the benefit of working with any website because of their program where they put a link to payment and then return the customer once the transaction is complete, they have at least one universal flaw. The customer usually does not prefer to register with a payment provider and go through all the steps to verify their account before making the initial transaction. Once the customer is finished registering and verifying for paypal (ex.), they've probably forgotten what they came to your website to buy. There's something known as "impulse buying" which is the prominent reason people buy products online. Every step you take between gaining their interest and the finished transaction is a reduction of impulse (excitement). 2. Local Banks - Local and National banks both farm out their merchant accounts to processors who work with them to provide a real merchant account to you. Since everyone who opens a business usually opens a business checking account, they are on the front lines for referring you, which gains them a substantial cut in profits from whomever they choose to farm out your account to. As a result, the processor who they refer you to have to up the price dramatically to the merchant to make any profit. 3. Merchant Account Providers and Processors. - With a merchant account from a MSP, you can rest assured that you are getting a great price for your buck. The rates are usually lower because of lower overhead and direct rate consultation. If you are an e-commerce merchant and you have a shopping cart set-up, you are almost ready to go. Finding the right shopping cart takes time and understanding, however you can find free shopping carts if you look hard enough. Whether you are new to e-commerce or you are an experienced veteran, you know exactly how important your merchant account is to your business. Finding the right domain name, shopping cart, and content are one challenge in itself, then you need to find a cc processor. Many webmasters have been searching for an alternative to the norm after finding that most banks are charging twice as much as they should. We can help... We handle all different types of accounts from E-Com to Retail. Whether you are a new or existing US business, we urge you to try us out and see what programs you qualify for. We can also help you to set-up a merchant account if you do not live in the US. While every account differs, we continue to be the leader in providing a plan to help your business grow. If you need any help, please don't hesitate to pick up the phone and give us a call. Take care, Jacob Reller helpmerchants.com
I asked because I am looking to start a site selling a few eBooks and I wanted direct credit card processing instead of PayPal and so fourth. Might sound dumb but for those who don't want to pay using the PayPal gateway, they can pay from the regular site. Although I am aware I'd need an SSL certificate and everything as well. I still got a ways to go before I'm setup. Including writing a few eBooks, setting up the software, integrating an affiliate script and so forth. Hopefully it'll be good to go January 1, 2009