Online payments without the big commitment

[terrygbarnes]

Hi, I'm looking at payment solutions to enable me to sell services online in both UK Pound and SA Rand. I've found two so far; Worldpay and HSBC but they both have such long commitments; Worldpay is a 12 month contract and HSBC is 24 months.

I'm slighly nervous about entering in to such a long contract in case they end up being not quite what I'm after!

Does anyone know of any others with a smaller contract length?

Thanks in advance for any help... Terry

[IridiumCorp]

Hi, I'm looking at payment solutions to enable me to sell services online in both UK Pound and SA Rand. I've found two so far; Worldpay and HSBC but they both have such long commitments; Worldpay is a 12 month contract and HSBC is 24 months.

I'm slighly nervous about entering in to such a long contract in case they end up being not quite what I'm after!

Does anyone know of any others with a smaller contract length?

Thanks in advance for any help... Terry

12 month is the minimum across the industry. Some banks it can be 3 years but that is usually if you take physical machines on lease hire.

[ExpandOnline]

No experience of this company www.transx.co.uk (http://www.transx.co.uk)

[terrygbarnes]

No experience of this company [transx[/URL]

I've just been in touch with them and unfortunately they don't accept payment in Rand. They do see a good choice though if you only accept GBP, USD, EUR payments. Back to the drawing board :(

[midinc]

Try nethosts at nethosts[.]biz. I think you will be stuck with a minimum one year contract though.

[IridiumCorp]

The reason why the contracts are so long is because of the credit risk exposure from charge backs.

A consumer can do a charge back for up to six months after the point of transaction. I the Merchant only had a three month contract and a customer did a charge back at the 4 month point then the bank has no recourse to get monies back from the merchant.

If you look at the fine print there is normally a clause the the minimum time is a year and there will be a run on time until all the exposure from the Tx's is cleared.