Payment Processors compared
Monday, November 3rd, 2008An online payment processor automatically processes debit and credit card orders from your site, so you don’t need to handle the card details at all. And to set the records straight before you start accepting credit cards online there is a few absolute musts if you want to sell to consumers online. Since this is potentially a quagmire of misleading information, or even outright lie. We included a list of online payment providers that offer services similar to what you may need.
Please note that different providers will charge different types of fees. There are notable differences that may not be straight forward and available for viewing. The payment processors have very different structures and should be checked before making any decisions. You will have to balance the discount rate, per transaction charge, monthly statement fee and also any other fees. This chart will help you find the best way to accept credit cards online according to your needs.
Along with the listed services you will want to make sure what all is included in the service, such as: The Secure gateway, Merchant Account needed, Exchange rate for other currencies, Rolling Reserve, Settlement time frame, Technical and End user Support. These things can add a lot to the final cost and make the most out of your online sales.
| Payment Processor | PayPal | Authorize.net | 2Checkout | WorldDirect | World Pay | NetBanx | G2S |
| Initial Rate | 3.4% | 2.5% | 5.5% | 4.5% cc £ .50P dc |
3.25% | 1.9% | 3.75% |
| Setup Fee | None | $ 300-600 | $ 49.00 | £ 75 | $399 | 0 | |
| Transaction Fee | $ .30 USD | $ 0.35 | $ 0.45 USD | £ .35 P | $0.40 USD | £ .20 cc £ .45dc |
0.25 |
| Monthly Fee | N/A | $ 25.00 | N/A | £ 145 annual | $ 50.00 | £ 20 | None |
| Merchant Account Required | yes | yes | yes | yes | yes | yes | No |
| Additional Fees | 2% cross border 2.5% exchange rate |
Statement & Gateway +$ Fraud Detect. +$ Rebilling +$ |
Dispute fees | £ .35p £2.50 other cur |
Tech Support | None | |
| Guarantees | N/A | N/A | N/A | N/A | Upon request | N/A | Included Free |
| Virtual Terminal | $ 30 USD | Free | None | Available | Included Free |
Each online payment provider will have additional information concerning their individual solutions, but the rest is up to you. You have to ask and investigate thoroughly to ensure you get the exact answer to your questions. For more information you can Blog it here or pay us a visit at start-selling-online or send an e-mail to sales@g2s.com.
