Takings Payments Online - Costs?

[i234i]

Hi folks.

I'm trying to get a understanding of ALL costs associated with taking payments online. I've only used Paypal before so not really sure but need a white label solution.

I've heard of IMA accounts, Payment Processing plus a Business Bank Account etc. Just trying to get the total cost and whats associated both per transaction and/or monthly.

What is the total things you need to take payments?

I'm trying to find the "total" cost as its for events we run, ticketing and the customer gets charged the card fee but i want to charge what we get charged as we make on the ticket / event at our bars.

 

[Jessshailes]

Hi Are you planning on moving away from Paypal then?
There is only a monthly cost to paypal if you sign up for a pro account up front. Other fees are the percentage of sales.
Business bank account fees depend on the bank you go with. I have heard that Santander offer free business banking for life.
The other service providers I haven't heard of, sorry but I hope that has helped a little?
Jess

 

[Moneyman]

all depends on what your transaction size is and number of sales.
hit the business links tool for working it out and choosing a solution:
http://www.businesslink.gov.uk/bdot...3=1073920405&r.t=RESOURCES&topicId=1074453672

 

[i234i]

Cool thanks guys!

Its about £10 avg order.

 

[PayPoint net]

Hi

With your merchant account you may pay a set up charge from £50-125 (not for all but many require one), a transaction charge (generally 1-3% however can be more if your acquiring bank deemes you to have a higher risk business model.

The payment gateway generally has a montly charge of between £10-£40 depending on the type of integration and account you have. You should get at least 250-500 free transactions included.

You may have additional charges such as PCI Compliance, 24/7 support, multi-currency processing, and premium fraud / security mangement tools.

PaymentBrain is a good comparison site and will automatically calculate how much you would be paying based on your transaction volume and order value.

Hope that helps
Siobhan

 

[PayPoint net]

Sorry just to clarify above that is 250-500 inclusive transactions per month...

 

[TommyGG]

Hidden costs of online payment processors are spreads when you convert currency. Make sure you factor this in if your margins are low.