Yet another payments thread

[doctorj]

Can anyone advise of the cheapest way to accept payments from debit cards online and if it's possible to automatically reject attempts to pay by credit card?

By way of background, we're a start up, with a proof of concept working outside the UK. Based on our estimates, we expect an average transaction size of approximately £7-8, with 90%+ of our transactions between £5-20.

The model is unfortunately high volume and low margin, so the ability to find an affordable way to process payments is absolutely core to us being able to deliver our business model in the UK. This is part of the reason we would like to restrict payment to debit cards only.

In terms of transaction volumes, we will of course take some time to reach scale while we fine tune the product offering, but we aim to reach 10,000 transactions 12 months after launch.

Thanks in advance for your help!

 

[wayzgoose]

With your average transaction value the charge for a credit card would be much the same as a debit card anyway.

 

[Ian Spielman]

With your average transaction value the charge for a credit card would be much the same as a debit card anyway.

Thats true. I would also say that it depends what type of transactions you are going to take. face to face, over the phone or e commerce?

if its e commerce yous looking at £20 a month for gateway plus rates.

 

[CharityClear]

Thats true. I would also say that it depends what type of transactions you are going to take. face to face, over the phone or e commerce?

if its e commerce yous looking at £20 a month for gateway plus rates.

You can get cheaper than £20 per month, our budget tariff is £10 per month (including 50 free transactions), for example. There are also rates for the merchant account on top, that is correct.

Marc.

 

[CharityClear]

Can anyone advise of the cheapest way to accept payments from debit cards online and if it's possible to automatically reject attempts to pay by credit card?

By way of background, we're a start up, with a proof of concept working outside the UK. Based on our estimates, we expect an average transaction size of approximately £7-8, with 90%+ of our transactions between £5-20.

The model is unfortunately high volume and low margin, so the ability to find an affordable way to process payments is absolutely core to us being able to deliver our business model in the UK. This is part of the reason we would like to restrict payment to debit cards only.

In terms of transaction volumes, we will of course take some time to reach scale while we fine tune the product offering, but we aim to reach 10,000 transactions 12 months after launch.

Thanks in advance for your help!

You could ask your merchant acquirer to only accept debit cards. We have a couple of merchants who only accept debit card payments.