Online Merchant Services

[Sonicacredit]

Hello,

This is my first post to this forum, but i intend to get involved as much as i can in the future. I'll start by saying i think that it's great that a website like this exists! I'll introduce myself, my names Adam and i'm 22 years old from Hull. I'm currently in the process of opening my first business. We're going into the commercial debt recovery sector, primarily offering a professional and friendly service to small local businesses to collect outstanding invoices on their behalf. I know what people think about Debt recovery, and debt collectors in general, but i have been in this profession since i left school and i feel that i know enough about the secor to go towards a niche in the market.

We're currently in the process of aplying for licences etc, and aim to be up and running for around the middle of the year. I just wondered if anybody one here has any advice for me in chosing an online payment merchant service. Obviously I am aware of the charges involved for a card payment through such a service, and that will be compensated for in our commission rates. I need to be able to offer card payments through our website, can anyone recommend me a good one? The website will be properly certified, encrypted and secure. It will just allow me to reach more people and offer more methods of payment. . .

 

[SBOnline]

Try speaking with your bank - they might be able to offer you something for online purchases at a lower cost.

Sage pay is also popular and if you are already using sage for accounting it might save some time in the set-up.

Hope this helps.

 

[ridgejyk]

Hello,

This is my first post to this forum, but i intend to get involved as much as i can in the future. I'll start by saying i think that it's great that a website like this exists! I'll introduce myself, my names Adam and i'm 22 years old from Hull. I'm currently in the process of opening my first business. We're going into the commercial debt recovery sector, primarily offering a professional and friendly service to small local businesses to collect outstanding invoices on their behalf. I know what people think about Debt recovery, and debt collectors in general, but i have been in this profession since i left school and i feel that i know enough about the secor to go towards a niche in the market.

We're currently in the process of aplying for licences etc, and aim to be up and running for around the middle of the year. I just wondered if anybody one here has any advice for me in chosing an online payment merchant service. Obviously I am aware of the charges involved for a card payment through such a service, and that will be compensated for in our commission rates. I need to be able to offer card payments through our website, can anyone recommend me a good one? The website will be properly certified, encrypted and secure. It will just allow me to reach more people and offer more methods of payment. . .

Such paymentis safe, have the existence of hackers

 

[Sonicacredit]

Thanks for the help! I'm going to have a word with the bank however there are some limitations. Sage Pay sounds like a god one to research. I have actually had a look at that. Have you had any experience with it? Does anyone know what the charges are like?

 

[Sparx]

Don't expect all the banks to be open arms when it comes to a merchant account. Unless they provide you an account with those ridiculous conditions were they will hold on to your funds for 30 days before releasing it to you or something.. Debt Recovery is classed as a high risk industry to banks. Just as an FYI so it does not come across as a shock to you if you come across any issues setting up a payment account.

 

[PayPoint net]

Hello,

I just wondered if anybody one here has any advice for me in chosing an online payment merchant service. Obviously I am aware of the charges involved for a card payment through such a service, and that will be compensated for in our commission rates. I need to be able to offer card payments through our website, can anyone recommend me a good one? The website will be properly certified, encrypted and secure. It will just allow me to reach more people and offer more methods of payment. . .

Hi Adam

Do a proper review of the market. As a merchant account provider here are some of the questions we often get asked which may be helpful if you would like to review your options:

• What are your acquiring rates and fees?
• When can you review my acquiring rates?
• What are your terms and conditions?
• How fast can I get started and what documentation is required?
• What are your settlement terms?
• What are your security requirements?

Hope that helps
Siobhan