The Best Payment Gateway For My Needs?

[NickM]

I am currently developing an eCommerce site, I have tried to apply with Cardnet however they say I need to have been trading for 1 year. What I need is a payment gateway that can withdraw into my bank account pretty much instantly or close enough. Some people have told me PayPal is close to instant now but the nature of my business needs it to be fast every time. Any suggestions would be great thanks

 

[RogerBa]

Your right PayPal is pretty instant these days, but they may hold onto a small percentage of your payments received with a new account, especially if you use Pro and a virtual terminal as well as regular PayPal payments.

You could also try Cardsave, www.cardsave.net they certainly don't require that you have been trading over a year.

 

[Nochexman]

Nochex.com allows you to access / withdraw funds pretty quickly.

 

[japancool]

Both Paypal and a gateway will be "instant", in the sense that the payment is processed immediately and the funds are transferred as soon as the payment process is complete. This takes seconds. It's not like the customer will have to wait minutes, hours or days for things to happen.

The difference between Paypal and using a traditional gateway plus IMA is that with Paypal, you can then withdraw the money into your bank account manually. It is not done for you. With an IMA (internet merchant account), the money will be automatically transferred (settled) into your bank account after a certain number of working days.

Paypal may choose to withhold some of your money or limit your withdrawals if you get disputes that you do not resolve. Stick to the Paypal rules, resolve disputes quickly without it getting to the stage of a Paypal dispute and you won't have a problem.

Paypal is usually more expensive than using a gateway and IMA, depending on your turnover.

You do NOT have to get a gateway and merchant account from the same place. In fact, it often pays to shop around. I suggest you try:
http://www.cardswitcher.co.uk

Where you'll be able to get quotes to suit your business. The fact that you haven't been trading for 12 months shouldn't be a problem, but it will depend on what you do.

 

[addictionmoto]

Hi
I'm in the similar position as NickM

I'm looking on getting my new website done. I use paypal on my web current shop as my payment option but it's annoying making new button every time and as I will have like 1000 items on my new web shop I need better option.
I think I will go with sagepay as my payment service and looking in to cheap good merchant acc.
I have looked in to cardswitcher.co.uk and got few options with mostly £0.20 for DC and 1.5-1.8% for CC.

Are those companies good to trust?
I have a list of:
card-cutters.co.uk
payfficiency.com
firstpaymentmerchantservices.co.uk

Which one will you recommend?

 

[Josh_Farmer]

Have a look at stripe, not the lowest rate at 2.4% however, its decent, easy to intregate, and much more like a merchant account than paypal ect.

https://stripe.com/gb

 

[japancool]

Hi
I'm in the similar position as NickM

I'm looking on getting my new website done. I use paypal on my web current shop as my payment option but it's annoying making new button every time and as I will have like 1000 items on my new web shop I need better option.
I think I will go with sagepay as my payment service and looking in to cheap good merchant acc.
I have looked in to cardswitcher.co.uk and got few options with mostly £0.20 for DC and 1.5-1.8% for CC.

Are those companies good to trust?
I have a list of:
card-cutters.co.uk
payfficiency.com
firstpaymentmerchantservices.co.uk

Which one will you recommend?

I don't know about the others, but I got mine through Payfficiency on cardswitcher. I imagine the others are absolutely fine,

 

[ShamusRichard]

Yes, Paypal is the most powerful and secure online banking system which is used by millions of internet users, marketers, companies and freelancers to transfer their funds around the world. The most likeable thing in Paypal is; it secures its customers and is a faster service to receive and send money online.

 

[Nochexman]

Have a look at stripe... its ... much more like a merchant account than paypal ect.

Hello Round25, just curious, but in which way is strop more like a merchant account than pp?

 

[Quickpacksupplies]

Nochex are pretty good if you want basic (aka no telephone orders).

Their fee's are pretty low and theres no monthly charge which we enjoyed.

We now have a need for telephone orders so may be going with WorldPay who I understand are very popular and recommended by a good amount of people.

Also PayPal Pro is great too .

 

[Josh_Farmer]

Hello Round25, just curious, but in which way is strop more like a merchant account than pp?

A few reasons really

1) You can take telephone orders
2) Money is automatically settled in to you're bank account after 7 days (no withdrawing)
3) Payments can be easily integrated in to you're site without branding of paypal. Also can easily embed it in to you're site so no re-directs

Sure there is more, but off the top of my head thats the first things that come up

 

[Merchant UK]

Nochex.com allows you to access / withdraw funds pretty quickly.

Does Nochex retain any of the funds? I was told that I had to leave £1000 in as a reserve and even when I closed my Nochex account it took me over 6 months to get back my money.

Not a good start for a small business

 

[Quickpacksupplies]

Does Nochex retain any of the funds? I was told that I had to leave £1000 in as a reserve and even when I closed my Nochex account it took me over 6 months to get back my money.

Not a good start for a small business

Not from what I am aware of.

There may be a surcharge if you're withdrawing less than x amount but never a restriction. I think ours is like a couple of percent if below 200 maybe.

 

[AdamSharpe]

Hi Nick

The settlement period really depends on what your Merchant Acquirer agrees with you during your Merchant Account setup. This can be next day or it can be over 30 days(!!) - depending on how the Acquirer may wish to mitigate against any risk that they may foresee with your business model or goods/services being sold/dispatched.

As a Payment Gateway, we all offer real-time Authorisation and Settlement Files are sent that night to the Acquirers. So, the quickest we could expect you to see your settled funds would be next day - again this really does depend on how the Acquirer wishes to approach your business requirements.

As an independent Payment Gateway, we'd be happy to introduce you to all/any the UK Acquirers to see how they might be able to assist with your quick settlement time requirement.
Cardstream Payment Gateway
0845 00 99 575

 

[davehayes]

This is an interesting thread. For what its worth, without any hesitation and for a number of different reasons. Worldpay/Streamline