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Recieving credit card payments from customers

I'm self employed and run a small business.

I’d like to receive payments from my customers by credit card, but high processing charges have scared me of previously.

Processing credit card payments via the web seems to be the way to go.

However many credit card processing companies slap very high charges on processing each transaction.

Does anyone know how I can process these transactions for free (wishful thinking!) or by using a company who only charges a reasonable flat fee per month etc?

Any assistance would be very gratefully received.

Thanks :D


  • skyrider007
    skyrider007 Posts: 1,108 Forumite
    Have you considered PayPal?
  • DeLorean
    DeLorean Posts: 11 Forumite
    I've looked into PayPal, but it's not cheap.
    You have to pay a flat fee for each transaction plus a percentage of the transaction amount.
  • Rafter
    Rafter Posts: 3,850 Forumite
    First Post First Anniversary Combo Breaker
    Credit card companies levy fees on retailers to accept credit cards. This is to cover cost of processing, machines and the interest free period if cards are paid in full.

    Charges are much higher for retailers like furniture stores, travel companies or others where there is a higher risk that the bank will have to pay back the customer if the retailer or travel company messes up.

    Paypal, worldpay and others offer a way of taking payments without developing your own secure website etc but will charge for their services.

    Suggest you get 3 quotes from different suppliers and compare. If they are broadly similar then that is the market rate and will be the cost of accepting credit cards - you will just have to pass on this cost to your customers or reduce your margins.

    Smile :), it makes people wonder what you have been up to.
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