Payment Processing/Paypal

[posie]

I have been calculating my Paypal fees over the last 6 months which totals £300, currently I only offer Paypal and would like to know what the equivalent fees would be for alternative payment processing over the same 6 month period?

Could anyone also let me know the percentage of card vs Paypal transactions for their customers, as i'm unsure whether customers would continue to use Paypal as their prefered method.

I have contacted a few companies but unfortunately they haven't replied (which leads me to not wanting to sign up with them).

I recently opened a business bank account with Coop, could anyone let me know what else I would need to set up and the fees involved

 

[Sparx]

Try this website, local guy around the UKBF forums set this up..

http://paymentbrain.co.uk/gateways

 

[PayPoint net]

Hi Posie

Most of the local payment gateway providers offer a monthly charge of anything from £10 - 30 a month. A gateway provider should however offer a certain amount of inclusive transactions per month (generally between 250-500 per month depending on your integration) so costs can be saved there. Transactions outside this amount will be charged (generally approx 10-20p) but this will also depend on your volume of sales.

You will need to also factor in any transaction charges your acquiring (merchant) bank has. This is often in form of a percentage (can range from 1-3%, depending on your acquirer. Charges can sometimes be more than 3% if your business is deemed as having a riskier business model.

Hope that helps
Siobhan

 

[Nochexman]

Hi Posie,
Given the amount you are talking about you could try www.axcessms.com They provide a broker service and will get you good rates. Axcess is a sister company of www.nochex.com

Good luck,
- Peter

 

[aquarium plant food UK]

We recently started using Debit and Credit card payments other than PayPal, we are using http://www.totalwebsolutions.co.uk/ Simon is a memebr here and very willing and able to help out, worth an email anyway.

 

[theRB]

As I understand it offer SagePay offer good rates at the moment, but I haven't used the backend just used it as a customer.

 

[Nochexman]

As I understand it offer SagePay offer good rates at the moment, but I haven't used the backend just used it as a customer.

Hi theryanbradley.

Just bear in mind as PayPoint net says - SagePay, totalwebsolutions and others offer processing only; you also need a merchant account and you need to take into account those extra charges.

PayPal and Nochex both provide combined merchant accounts and payment gateway so the price you pay them is all you pay!

Good luck,
- Peter
- www.nochex.com

 

[allenmaccoy]

paypal is better option rather then debit card or credit card, e-banking is another good option.. go for it....

 

[jacknarvy]

paypal is really great. PayPal users can instantly transfer money to them with just a click of the mouse. Save time and money over costly Western Union style transfers while getting money to where you wish to send it faster than ever.

 

[Nochexman]

Hi jacknarvy.

I think the original poster was asking what fees he might pay if he moved away from PP!

Cheers,
- Peter

 

[nancyfromafrica]

do not trust random websites in money matters like paypal

 

[Deleted member 146999]

you also need a merchant account and you need to take into account those extra charges.www.nochex.com

Streamline used to waive the merchant account cost (90 quid I think) to FSB members, so it maybe worth looking at that.

Remember you'll need a different merchant account for card machine in a shop, website orders and telephone orders. So that's 3 lots of 90, mad I know, but true.

You also need to be aware of PCI DSS. If you use a PSP, you won;t have to do too much, but at least be aware of it.

 

[CharityClear]

Remember you'll need a different merchant account for card machine in a shop, website orders and telephone orders. So that's 3 lots of 90, mad I know, but true.

.

It's not necessarily a separate merchant account you need for each method, but separate merchant ID's.