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Let's Talk Online Processing

Merchant Accounts, payment processors, integrating shopping carts, secure servers and anything related to taking payments and processing online orders

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Let's Talk Online Processing

Postby Regina » Wed Jul 09, 2008 5:35 pm

Credit Card Options Are A Must

If you have a website for your business, it is absolutely essential that you set up your business to accept credit card payments. Most online consumers prefer to pay by credit card. It is quick, easy, and offers a convenient shopping experience. If you offer this type of online payment processing tool, you will find that your sales instantly increase.

Do you offer credit card options on your website? If not, why?
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Postby americanwahm » Fri Jul 11, 2008 12:21 am

I do and it grew my sales significantly - especially on high dollar purchases.
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Postby Regina » Fri Jul 11, 2008 8:09 pm

americanwahm wrote:I do and it grew my sales significantly - especially on high dollar purchases.

I think a lot of people stick with only Paypal as their primary merchant account. Do you find that having your own merchant account as well as paypal (as a secondary option) make a big difference?

Thanks for sharing Kelly 8)
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Postby alexc » Wed Jul 30, 2008 1:14 am

I'm interested to know what folks are doing to process credit cards online. Are you using Paypal to run the transactions or something else? If you have a merchant account with a credit card company, what are you using for online payment processing to get that info to the credit card company? I've never set up a way to accept a credit card, so I'd be very interested in knowing how to do so.
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Postby Regina » Wed Jul 30, 2008 9:56 am

Hi Alex,

There are various options for processing credit cards. Shopping cart software is used for processing payments thru to the merchant accounts.

Depending on what you offer, Paypal might do just fine for you, however I highly suggest using a shopping cart system in order to track every process of the customer's order with instant thank you messages, tracking, follow-up and list generation.

Nicole Dean wrote a free guide on how to choose a shopping cart, you can grab it here: http://wahmcart.com/download-free-guide

Once you read it, let me know if you have any questions.
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Postby Jim Guinn » Thu Jul 31, 2008 7:28 am

I used to have a merchant account with AuthorizeNet as the gateway, however they we charging me $50 a month on top of the usual transaction charges. I dropped them and went to PayPal. Since there are a lot of people out there who hate PayPal, I also added 2Checkout. (Both have higher transaction fees, but there are no monthly charges.) And, for those who are still wary about entering their CC online, I offer a check/money order option. This all works well for me and has actually helped my sales.

BTW...keep in mind if you have a merchant account and a cart that will accept CCs, you also must have a "gateway". A gateway is the means of securely transmitting the CC info from your cart to the CC company by means of encryption.

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Postby robert adams » Thu Jul 31, 2008 10:12 pm

and that "gateway" is going to cost you a bundle.

like Jim said, you will have monthly fees, then per transaction fees, and several other fees.

before you are done, it can cost you up to 20 cents on the dollar for every dollar you get.

paypal and 2checkout fees are much better than that.

now days, anyone with a credit card can use paypal to pay you. they don't have to have a paypal account.
I don't know about 2checkout.

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Postby Jim Guinn » Fri Aug 01, 2008 6:35 am

robert adams wrote: and that "gateway" is going to cost you a bundle.

I was paying $50 a month just for my gateway...AuthorizeNet

robert adams wrote: I don't know about 2checkout.

2Checkout does not have "memberships" like PayPal. Anyone can pay through 2Checkout with a CC....just as they can through PayPal now.

If you use one of these third party payment processors, you will pay a higher transaction fee as a merchant, but you won't have all the other monthly fees as you would with your own merchant account.

Of course, there is a "break even" point that you will have to determine. If your sales are not "through the roof", start with a third party payment processor. If you sales continue to grow on a consistent basis, there will be a point where it is more economical to change over to a regular merchant account, but for most the third party payment processors make the most sense.

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Postby alexc » Sun Aug 03, 2008 10:40 pm

Thanks all for the information! There is so much I still need to learn and do before this whole business venture is set to take off. I haven't even figured out what to sell, much less how to sell it :) One of these days I'll have a site with no products and see how much I can pull in from that :P
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Postby robert adams » Mon Aug 04, 2008 9:43 am

There are many, many online marketers that are doing millions per month business without a standard merchant account.
They use paypal , 2checkout, etc. exculsively.

The one thing I have heard a lot though, is that when you start getting a log of money in you paypal, etc. account, to take it out on a regular basis. Tranfer it to your bank account.

These processors will sometimes freeze an account because of a complaint from a cusomter etc.

So, you don't want to use those accounts like a regular bank account/credit card, to pay your bills, etc.


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Postby alexc » Thu Aug 21, 2008 10:26 pm

I always assumed that I would use PayPal as the primary method for receiving payments, assuming they do not end up taking the same route as eBay has and mess up their pricing structure so no one knows exactly how much they are paying for each transaction. PayPal just makes things so simple.

Of course I also move money out of PayPal as soon as possible as I don't trust them with more than a couple of bucks for any length of time.
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Postby robert adams » Fri Aug 22, 2008 11:39 am

just FYI, paypal and ebay are the same company now days.


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Online Payment Processing

Postby mikerandells » Tue Oct 14, 2008 2:57 pm

I want to know about online payment processing for the business ventures.So that i can have a site for my business.
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