Credit Card System

Oct 18, 2006

Does anyone know how much it costs to get a cc system in place so you can except cc payments?

.....Yeh you do, c'mon tell me!!!

Michael

Oct 18, 2006

payments over the phone by the way.

amaze · Oct 18, 2006

It all depends on how much £££ you will be putting though... We pay 1.14% on CC's and 14.5p fixed on DC's. Gateway fee is around 10p per trans.

For a quick solution you could www.nochex.com but it would be dearer.

Cheers

Bathead · Oct 18, 2006

merchant account - £3-400 setup
merchant account - % per transaction
payment gateway - fixed price and/or per payment

I am no expert but expect if not present transactions over the phone the business is likely to be penalized heavier, especially if high value transactions.

cgigsnet32 · Oct 22, 2006

perhaps a 3rd party merchant account would be cheaper?

2checkout
or
worldpay

Optegris · Oct 23, 2006

Nochex, PayPal, 2checkout and WP (to some extent) are out the window as they do not offer a virtual terminal for taking payments over the phone.

Bathead was spot on but pricing is very variable. The two important elements are a merchant account and a gateway such as Protx, SecPay, SecureTrading etc.

MA's can vary in cost and transaction fee dependent on your turnover, business age, risk element etc, so there is rarely a fixed price.

Gateways are slightly less variable but a lot of people go for Protx as the charging is simple and fair.

eddieriby · Oct 23, 2006

I've just got a Streamline merchant account through Natwest and mobile POS terminals through a company they recommended 123 Send in London.....I've been pretty impressed so far and not a huge amount to get up and running.

http://www.streamline.co.uk/default.htm

http://www.123send.net/

arti72 · Oct 30, 2006

There are simple solutions like this http://cashforyou.ecreditdirectory.com

andysears · Nov 2, 2006

I beliece protx do a VSP account for processing cc's with details you take via telephone. £10 per month up to 300 transactions per quarter.

cheers

merlin30 · May 11, 2007

Hi, I have been using a merchant called highrisk-merchantservices.com for over 5 years now, there rates are very low, also are there setup fees, I have always been paid out on time.

Signing off,

Merlin30

Christiane · May 11, 2007

I run an online business and put the transaction manually onto my terminal. I have a Merchant Account with Streamline and the mobile terminal with 123send (£115 rental every quarter). I attend fairs so the mobile terminal made sense to me.
I joined the FSB purely because I could get cheaper rate with Streamline (1.95% for cc, 30p/transaction for dc, 2.95% for business cc). You get the money in your bank account within 3 days.

gnaldrett · May 12, 2007

openmind said:
Nochex, PayPal, 2checkout and WP (to some extent) are out the window as they do not offer a virtual terminal for taking payments over the phone.

PayPal do now offer a virtual terminal, it is included in their 'website payments pro' accounts, or can obtained seperately for £20/month (although it is free until 1st July on special offer just now).

Standard PayPal transaction fees apply.

I suppose it depends on your exact needs, and what level and value your transactions average as to what suits best.

Regards,

Gordon

maunder · May 15, 2007

We deal on line and by phone. First off go with your own bank sytem, it costs us £18.00 PCM for the terminal a small percentage on CC and a small flat fee on DC (these are down to negotiation turnover etc.)also you get paid the next day! Some of the payment sytems, while easy to use, have percentages that are higher and you can wait up to 10 days before you are credited the cash! Fine if you have the cash to carry this.
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