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View Full Version : A useful beginners guide all about taking online payments



goringgap
08-11-2004, 04:48 PM
Hello all,

This is something we wrote for our clients but you may find it useful.

A basic introductory guide to online payments (http://www.eshopfitters.co.uk/online_payments_guide.php)

Cheers
Simon

P&T Consulting
01-10-2014, 12:13 PM
Personally I find the whole credit card acceptance industry overwhelming. There are so many components to it which opens the door for confusion; I want to find a place that just handles everything for me. We are a relatively new business and the thought of trusting some random processing company to handle all of our credit card transactions is freighting. Thank you for posting the article, hopefully after doing some more homework I will come up with the best solution for my business.

smallbus
01-10-2014, 02:19 PM
I agree. It can be confusing to accept credit cards online with a merchant account. However, it does help to find a company that provides and all-in-one solution, which includes the essential elements required for both website processing, as well as a method to process transactions manually, such as with orders that may be received by phone or by email or even by mail-order. These elements include #1. A merchant account, #2 A Payment Gateway with Virtual Terminal, and #3 A Secure Shopping Cart which will automate the order process on your website.

paypalsucks
01-14-2014, 12:23 PM
I think credit card processing can be risky if you choose the wrong company. I had a nightmare experience with PayPal and when I found the website www.paypalsucks.com (http://www.paypalsucks.com), I was even more outraged and disgusted to learn that thousands upon thousands of others had experienced the same corruption and corporate theft as I had. I recommend that you stay away from any company that has this many complaints.

jfab
01-15-2014, 10:49 PM
This article is helpful indeed so thanks for sharing. Just also want to share my thoughts about it and it's indeed sad that as of the moment, our choices are not a lot when it comes to doing online payment. It's either through credit or debit card or paypal which are all risky. Hope this will all change soon.

wander_n_wonder
01-16-2014, 07:57 PM
Personally I find the whole credit card acceptance industry overwhelming. There are so many components to it which opens the door for confusion; I want to find a place that just handles everything for me. We are a relatively new business and the thought of trusting some random processing company to handle all of our credit card transactions is freighting. Thank you for posting the article, hopefully after doing some more homework I will come up with the best solution for my business.

Yeah, true, credit card usage is very complex and there are definitely a lot of things that you really need to familiar yourself about. However, I also think that without credit card provisions, business may not be that attractive to customers as well, especially nowadays when everyone basically just uses credit cards and hates bringing actual cash. So basically this is part of business that we just need to bear with.

delusional
01-18-2014, 05:10 AM
Nice guide, thank you. I agree there are A LOT of options to choose from and that it can be hard to see the forest through the trees. You really need to be able to handle credit card transactions these days. There is a big shift away from paper money so this market will even grow bigger over the time.

xwolfiex13x
01-18-2014, 10:51 AM
Thank you for sharing this! I feel that it is an important issue that is facing business today. I know many people that love to shop online or with their cards and rarely ever have cash. Personally, I have not had many online payment problems. I am actually a little shocked to hear that paypal may not be as secure as I thought. I will have to look this up and do further research. Once again, thank you for your wise words!

novasparker
01-27-2014, 10:39 AM
Ok, so here is my two cents worth as an veteran in the payments processing industry- taking credit cards online is tough...but trying to do business online or even retail these days, is tougher. It's true, there are a ton of rules and regulations you have to follow when taking cards online, but many people can skip most of this by signing up with a payments aggregator like Paypal. Using an aggregator means that you can skip signing up for your own account and leave the liability for following the card association rules to the aggregator since it's their merchant account. Of course you can't committ fraud, but that's a given. You'll pay more per transaction, but with the headaches gone (no need to deal with card acceptance rules, level three processing, address verification, etc.) it's really almost worth it. Those in the retail field can also take advantage of a payment aggregator. Square is just one of many.

jubvman
01-29-2014, 02:04 AM
Thanks for the article OP, I'm planning on starting multiple eCommerce sites soon and taking online payments is the only thing that's scaring me! It's hard to get your head around all the rules and regulations if you're not experienced in the industry.

I do agree with the above poster 'novasparker', signing up with someone like Paypal and having them handle all the transactions would be a lot easier.

novasparker
01-29-2014, 09:59 AM
Jubvman, I worked in the electronic payments industry for 15 years...there is a time and a place for you to obtain your own merchant account, but I don't think that (unless you expect an explosion of sales at the outset) you should get one at launch. You should use an aggregator until you build your business so that you don't wind up going under due to all the fees associated with the maintenance of your own merchant account. These are designed for larger businesses that have several thousand dollars' worth of transactions run every month. This will be enough to get you started. That way you have an established business and will qualify for a lower cost account.

pahagwl
02-24-2014, 08:09 AM
I would like to thank the OP that he started this thread and linked such a useful article for all of us here. We all know that while starting an online business, it is very necessary to get a payment gateway and a merchant account in order to receive payments. But it is very difficult to understand all the rules and regulations of accepting the terms of service on this.

Francisco23
02-28-2014, 05:07 PM
Personally I find the whole credit card acceptance industry overwhelming. There are so many components to it which opens the door for confusion; I want to find a place that just handles everything for me. We are a relatively new business and the thought of trusting some random processing company to handle all of our credit card transactions is freighting. Thank you for posting the article, hopefully after doing some more homework I will come up with the best solution for my business.I don't see the article. I must be overlooking something. I picked up however, that the article is about online payment processing. It is indeed a complex issue. As an online Merchant, you have to go through the rigors of getting a merchant account with your bank and then finding an online processing company that will charge you the least fees. Give Netpay a try. I like the fact that they allow you to send money to VISA cards...even amounts exceeding what was originally deducted from the card.

DomDom
03-01-2014, 03:47 PM
Great OP! Thank your for the useful information :)

MikeLevin
03-16-2017, 05:19 AM
Thanks for that post. Found a lot of helpful comments. Will use it in my business

andrew2510
03-23-2018, 07:04 PM
The best book I've ever read is ' 7 Habits of Effective People' . This book has not only saved companies but loads of marriages and families! Its simple but transforming information that you can use in every facet of your life! For your small business, it will help you deal with employee issues and make better decisions!

gilsulate
04-04-2019, 06:37 AM
There are so many components to it which opens the door for confusion, I want to find a place that just handles everything for me.

chrisalbert
04-09-2019, 03:17 AM
Thanks for valuable information, choose best company for online payment, whether you've eCommerce platform or online business.

Merchantservice
04-17-2019, 12:53 AM
Are you currently processing or a start up?

Tired of paying ridiculous rates, or calling around not getting anything?

Then look no further!!!

I would be more than happy to see if I could beat your current rates or see if I can get you the best deal.

We can process for moto, retail and ecommerce accounts. We also have mobile solutions.

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Willing to work with CBD, MMJ and Eliquid vape accounts!!

If you have a business bank account and a product or service you offer, let's get you processing today!!

Message me, email or call.

Phone: (805) 409-9940
Email: Mike.Merchantservice@gmail.com

Rejina88
04-17-2019, 04:24 AM
Thank you....

RosalindaSmith
04-18-2019, 06:05 PM
Thanks for such a guide! Will check and use it further.

mariahales
10-31-2019, 06:06 AM
I agree with you, i think we need to give a try to some other payment gateways other than the credit cards. This can make or break our startups. For a proper balance i would suggest taking help of financial experts as they know which investment, or business can be a right fit as per our financial condition.