15 years ago
Your bank may seem like a very easy choice for processing. Unless it is a very large bank, though, they do not actually perform merchant processing services. It is more likely that they have been solicited by a merchant processor that won the bid for your banks customer leads and a certain portion of your fees will now go to your bank. The service and support, though, will be handled by the processor and your bank will not be involved.
Be sure to consider the following:
1.) As you are processing ecommerce exclusively, be very aware of the retail "card not present" rates that your processor assesses.
2.) Be sure to know all of the different card rates. You will most likely receive debit cards, personal MC and Visa, Visa Rewards, MC World, and MC & Visa Corporate cards. Many processors sneak in a "nonqualified" rate for the Rewards, World and Corporate cards that can be upwards of 3%.
3.) Be sure that you are processing correctly. Anytime that you do not enter the required "Level 2" info for an ecommerce order, you will be downgraded to a higher cost transaction.
4.) Lastly, ask the service provider that sends you your orders for their PCI Data Security compliance information. This should protect you against any penalties should there be a breach of cardholder information. For more about PCI, see the Visa webpage at: http://usa.visa.com/business/accepting_v...
5.) Your business model will dictate your best merchant processing decision. Work with a professional who can help you build your profile. No merchant processor is the best decision for everyone - but someone will be the best choice for you.
If you would like more information about merchant processing, feel free to contact me at email@example.com... or at (920)993-9433. Wind River is a merchant processor that specializes in offering well supported, competitively priced, custom processing services.
7 years ago
If you wish to accept credit cards, I recommend working with Payanywhere. They feature the cheapest commission charges. They haven't any setup or month-to-month fees. I have already been taking credit cards with them for more than 5 years and I am satisfied with the service. You should check this out at: http://is.gd/payanywhere