Babel started this topic @ 00:33 on 17/07/2004
I know this comes up alot, but I still haven't got my head around which is a suitable on-line payment method for a start-up business yet.
Bank Merchant ID Account
someone told me that it's easy to get a merchant account with a bank & they were told it was a simple process that would take a couple of minutes to set up for them. they are a start-up on-line business with no trading history, is it a case of just asking the bank to set up a merchant account & they do it ??? sounds way too 'easy' to me. Is security better with your own merchant account ID ?(through a bank)
3rd party providers
I've read elsewhere on this forum there are upfront fees to pay with a bank just like worldpay . www.nochex.com sounds like a good(ish)UK provider, (that don't require a customer to register) and www.ccnow.com are an international provider which sound okay.
Secure Payments
Anyone heard of the Visa Verified program ? in the US both customers & merchants can use this service to prevent fradulent use of your credit card/account - I read somewhere that on-line merchants can get this in the UK to help prevent fraud.
PayPal (Capitalone verified ???[

])
At the moment I'm just accepting PayPal - as a Capital One fraud prevention advisor told me that PayPal is one of the safest ways for consumers to buy over the Internet - if my creditcard company are telling me Paypal is up there with other SAFEST on-line payment methods, what does this say about all the claims that Paypal is bad for some businesses images, if it's rated highly by the people that give out credit cards, what does this say about the more 'respected' providers ? should I be spending my cash on a merchant account at all or am I just buying the image and the security level is the same regardless ?
RE: PayPal, Bank Merchant Account & Credit Cards Again
simplycfhost | 17/07/2004 12:10 PM
You may want to show your fraud advisor at Capitol One this link: www.paypalsucks.com
It doesn't matter how you dress it up, PayPal and NoChex, IMHO, will always give a non-professional image. I find it surprising that Capitol One are actively encouraging the service...
WorldPay are still, in my opinion, the best way to strat accepting cards and even though the startup fees are hard to swallow, pound for poun, it's no more than setting up a merchant account with your bank AND and Internet gateway to take the money.
People often forget that you do need both.
Cheers,
Phil
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Cheers, Phil
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RE: PayPal, Bank Merchant Account & Credit Cards Again
Babel | 17/07/2004 09:22 PM
sites like paypalsucks are only out for themselves in my opinion - cashing in on peoples misfortune/urge to snipe with a company they feel has cheated them in some way - it's 'pot-stirring'& a form of living off the back of a companies reputation, be it good or bad. I wonder if all the affiliate commissions and alternative payment options go to their 'nominated' charity for the site too ?
I see your point about having to pay for the bank & an Internet gateway, WorldPay does seem the best option on that score, it's like 'half the price' of a Bank Merchant Account. I'll e-mail/phone afew more credit card folk, it maybe that Capital One get alot of sign ups for cards via their eBay ads & that's why they are sweet about them ???
RE: PayPal, Bank Merchant Account & Credit Cards Again
simplycfhost | 17/07/2004 10:09 PM
Paypalsucks exists to expose the problems that PayPal have. I know from first hand experience that their policies with chargebacks are draconian to say the least. Read the samll print of their user agreement and you will see for yourself that you have absolutley no rights of compensation or judgement against them.
So if I'm pot stirring by advising people to read that site then so be it. But pot stirring generally means spreadinfg of lies or mistruths. I am no liar and I'm sure you don't mean I am but they are certainly not living off the back of what is a reality a very poor company to entrust YOUR money with.
Cheers,
Phil
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------------------------
Cheers, Phil
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RE: PayPal, Bank Merchant Account & Credit Cards Again
JRU | 17/07/2004 10:37 PM
Babel,
As with most things in life, people can only offer advice (that's what this forum is for after all, AND why you came here??), but you have to go with YOUR ***informed*** decision.
I have met a lot of "business link/Banking people" that talk absolute and total TOSH about online trading, and because they've heard of eBay and PayPal (gosh, some have even heard of NoChex aswell!) they consider them to be "the be's knees".
I can give you some FACTS about WP and NoChex/PayPal if you wish. Without going into financial details we process hundreds of txn's a month (a lot more around Xmas) and for that we us WP. Yes they charge us a (very reasonable) annual fee and skim a bit off each txn - but if you had a card terminal at home, just how cheap do you think it would be (+ you'd need a Merchant account - which we get with WP)
We get CAUTIONS and WARNINGS via WorldAlert - these prevent fraud (if you can be bothered to check them out - if not you deserved to be de-frauded) and we have yet to be ripped off once, and more importantly, our customers are re-assured by WP. We do not need to worry about storing CC details either.
PayPal and NoChex. NoChex is an option on our website, BUT only for approved customers. PayPal. We have not had one single customers request to pay by PayPal. eBay, yes, but as I said eBay and PayPal belong together - cheap, cheerful. If you think about the "help" you get from eBay if someone rip's you off by taking the payment and not sending the goods (read the facts on eBay) and exactly how many "scam" PayPal emails are in circulation? And exactly how many scam WP emails do the rounds??
The *ONLY* issue we have ever had with WP was when someone attacked them with a DOS attack - and that just took our card clearing out for a day.
Anyway, after the FACTS, go right back to the start. I for one would not buy from ANY site on the web that asked me to payup/signup for PayPal - I don't need it and personally I do not trust it!
If you want to offer PayPal AS AN OPTION, then do so, but from a professional, business-like image, do not base your online business around it imho. But hey, what do I know :-)
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Martin @ JIGSAWSRUS.COM (webmaster@jigsawsrus.co.uk)
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RE: PayPal, Bank Merchant Account & Credit Cards Again
kermey | 18/07/2004 10:44 AM
Nochex dont ask you to sign up if your xtra enabled. I agree that World Pay are best for established companys but NoChex are great for startups trading only on low value items (under £100) and only in the UK.
It doesnt harm to have a back up processor to World Pay either. If you process thousands of transactions each month then world pay being down for a day will cost you a bit.
I would have thought that a business processing that many transactions could be better off using their own merchant account?
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Simon Meech
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RE: PayPal, Bank Merchant Account & Credit Cards Again
JRU | 18/07/2004 10:58 AM
I agree we need to look at our own Merchant Account, but the number of queries we get re: NoChex and/or PayPal - which was the point I was trying to make - can be counted on one hand with 4 fingers missing!
It's only our personal opinion, but "joe public" still has a very high level of concern about trading on the web and therefore we see "added value" in using the most popular and well known option.
I'm NOT saying they are the cheapest, and I'm NOT saying that they are for everyone (maybe I ought to be a WP sale-person!!), but that they ARE right for us.
------------------------
Martin @ JIGSAWSRUS.COM (webmaster@jigsawsrus.co.uk)
We Take The Puzzle Out Of Buying A Jigsaw!">href="http://www.jigsawsrus.co.uk">
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www.jigsawsrus.com
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RE: PayPal, Bank Merchant Account & Credit Cards Again
simplycfhost | 18/07/2004 11:27 AM
Some excellent points there Martin and I wholeheartedly agree with you...
Cheers,
Phil
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Call 0845 351 0413 today and find out how we can help your business succeed online.
------------------------
Cheers, Phil
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RE: PayPal, Bank Merchant Account & Credit Cards Again
odeniyi | 18/07/2004 04:17 PM
Paypal had some issues during the early years in the UK and many folks haven't forgotton. It was very North American focussed and my personal experiences were very bad indeed.
Paypal seems to have since improved quite a bit since and payment by non paypal registered customers has been introduced via credit card / debit card.
I use worldpay and believe they probably have one of the best profiles for online payment. got stung when trying out a smaller outfit with lower charges and wouldn't recommend using the same again unless strongly backed by good testomonies and a trading history.
Hope this helps.
Regards,
Olu
Protect your data, your business and your clients
http://www.newprospect-bs.com/online-data-backup.htm
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RE: PayPal, Bank Merchant Account & Credit Cards Again
Babel | 18/07/2004 09:10 PM
Simplyhost - I wasn't refering to you personally as a 'stirrer' I spend loads of time on-line & tend to pick up on certain trends & patterns after a while...
From my limited (2 year) experience, some folk do whip up a storm then disapear leaving the mess behind for others to clear up, they are usually still 'alright Jack' too.
I respect this forums members opinions/ experience & have no dispute with worldpay - they have an excellent reputation. It's always good to evaluate & revaluate & ask questions.
I read the terms & conditions of most sites/services I join on-line - most terms & conditions of service tend to 'suck' I can't tell the difference between the good guys & the bad most of the time
RE: PayPal, Bank Merchant Account & Credit Cards Again
simplycfhost | 18/07/2004 09:21 PM
Its OK Babel. I've learnt not to take anything personally! [
]
You mad a point there about the T & C of sites and the fact that people don't tend to read them apart from yourself. Tht in itself is PayPals greatest weapon against the retailer. Their conditions are so long winded and complex, most people will simply not bother so by agreeing to their terms you waive all your rights which is quite terrifying...
Cheers,
Phil
www.openmindhosting.co.uk - Top quality hosting from just £4.99 per month
www.openmindmedia.co.uk - Simple, effective and powerful design solutions
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Call 0845 351 0413 today and find out how we can help your business succeed online.
------------------------
Cheers, Phil
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