Thread: Credit Card Processing

In today's day and age a solid payment gateway to accept credit/debit cards is absolutely vital. Who have you had the best/worst experiences with? Any particular company you recommend and why?

depends on the business ur are in. talking about retail with lots of transactions? or is this an online business?

I'm saying in general. This can be a good resource for up and coming L4P'ers who may not have much direction. Helping others make informed decisions is what I am after.

For an Online business I have used and recommend:

Paypal Pro
IIRC the service is $29.99/mo and no minimum sales amount.
The commission percentage is a little higher, but there are no hidden statement fee's, batch fee's, save the planet fee's, etc. What you see is what you get!

+ A BIG plus is the money is available to be used with a paypal debit card immediately after purchase!

- A big negative is the 3 day wait from paypal account to bank account.

For on site:
Intuit Payment Solutions

After a month or two, threaten to cancel and your rate will be $9.99/mo with $10 minimum commission/mo
They have the lowest fee's (from my knowledge) for starting out, which helps keep money in your pocket. No statement fee's.

+ All payments can easily integrate into quickbooks, free upgrades to quickbooks yearly

- Almost impossible to get someone on the phone once you care a client

When I ran an online business, the payment gateway was Authorize.net. Can't say anything bad about them in my experience. I used them for 4 years.

If you allow me, I would also suggest that we talkk about Fraud Risks with accepting credit card,especially for online business. Anyone has some experience in regards to this? As there been any thread on this, I did not find any.

my mom does this on the side, her company's rates are as low as .95%
they donate a portion of the fees to Susan G Komen or ASPC (your choice)
you get a sign up bonus too

let me know as i can def help you out

Originally Posted by miabullitt

I'm saying in general. This can be a good resource for up and coming L4P'ers who may not have much direction. Helping others make informed decisions is what I am after.

For an Online business I have used and recommend:

Paypal Pro
IIRC the service is $29.99/mo and no minimum sales amount.
The commission percentage is a little higher, but there are no hidden statement fee's, batch fee's, save the planet fee's, etc. What you see is what you get!

+ A BIG plus is the money is available to be used with a paypal debit card immediately after purchase!

- A big negative is the 3 day wait from paypal account to bank account.

For on site:
Intuit Payment Solutions

After a month or two, threaten to cancel and your rate will be $9.99/mo with $10 minimum commission/mo
They have the lowest fee's (from my knowledge) for starting out, which helps keep money in your pocket. No statement fee's.

+ All payments can easily integrate into quickbooks, free upgrades to quickbooks yearly

- Almost impossible to get someone on the phone once you care a client

if your cash flow is up, stick with paypal, best of the best in my opinion

I had Paypal Payflow Pro if I remember the name correctly, as my gateway. I hate Paypal after that multi year relationship with them. I got F'd on many fraudulent orders.

Short version:
Customer bought items, I delivered, then Paypal seizes/hold funds when a credit card is reported stolen, I never received any money back, I have to pay my vendors for the product, and some jackass gets free stuff.

Paypals customer service to online businesses is horse$hit.


I read this week that Visa is starting it's own P to P payment system, and building a gateway system as well(if I remember correctly). If so, I'll give them a try.

I have had numerous accounts locked by PayPal. They wanted me to send them invoices and shipping statements. Being that most of my items were electronically delivered, they said I had to have physical proof that an item was sent from me to the buyer. So I fwded them the e-mail of the transaction information, etc. They perma-locked the damn account and refused to close it. Now - that acct has my SSN and all sorts of sh!t linked to it. I would think it'd be my RIGHT to close the damn accounts!!! But no - they said they have to remain open for whatever reason. I think they're a bunch of damn crooks.

J

Originally Posted by HPP

I had Paypal Payflow Pro if I remember the name correctly, as my gateway. I hate Paypal after that multi year relationship with them. I got F'd on many fraudulent orders.

Short version:
Customer bought items, I delivered, then Paypal seizes/hold funds when a credit card is reported stolen, I never received any money back, I have to pay my vendors for the product, and some jackass gets free stuff.

Paypals customer service to online businesses is horse$hit.


I read this week that Visa is starting it's own P to P payment system, and building a gateway system as well(if I remember correctly). If so, I'll give them a try.

Originally Posted by Marty64

If you allow me, I would also suggest that we talkk about Fraud Risks with accepting credit card,especially for online business. Anyone has some experience in regards to this? As there been any thread on this, I did not find any.

Yup. It's a pain in the ass, adds to overhead, reduces profit. I no longer accept credit or debit cards. Cash only or certified funds (money order, cashier check from financial institution). No personal checks, no electronic payments.