Ditching paypal for a new payment processor/merchant account

patwa_2

Hello.

I have now decided to close my paypal account, and now that the budget permits it, have decided to go for another payment processing company. Having looked around, Protx seems to be the best one to go for based on a blend of support, cost and features.

However, I still need a merchant account for the payments to be deposited into. I am prepared to pay a slightly higher rate per transaction than I would with paypal or nochex (periodically banned from eBay) for the worry and stress it would save re: fraud, chargebacks and problems with the company.

Doing some research, 2Checkout seems like a good option, despite its 5.25% + $0.45 per transaction, but I was wondering if any sellers here had any better recommendations?

Cheers and take care.

Hussein.

soolin

Whatever you decide please don't forget that you will always run the risk of a chargeback for item not received as all buyers using credit cards have the right to claim against their CC company and that CC company will just reclaim it from the retalier/small business. I was an accountant many moons ago and dealt with many very small traders and several of them were put out of business due to credit card problems and reclaims, and they all had 'proper' bank merchant accounts.

Soo

matttwine

Nochex my friend i use it a lot, exactly the same set up as paypal just cheaper

dont need to worry about chargebacks not really an issue but can still happen just as they can with paypal

matttwine

sorry forgot to add the site, its http://www.nochex.co.uk/

Hintza

As a buyer I use paypal (with all its faults). Would I bid on your item with payment via another company? I am 99.9% sure I wouldn't. You will lose sales and be taking lower prices unfortunately.

greeneye

Problem with Nochex is buyers can only send a set amount in any set time period without getting there account verified (i.e deposits into there bank account etc).
I think your allowed to send £75 every 2/3 months or something similar.

patwa_2

Hello.

Thanks for your replies. I know the chargeback issue is still a problem regardless of who yu're with, but paypal is a known 'free money back' portal as so many people associate it with fraud, goods not being sent, etc. The only reason it's so popular is that eBay and paypal tell people that it's safe, secure and really the only choice that they have for quick online payment.

I can use NOCHEX, and already have an account with them, and have had no problems, but really the issue of being able to pay without signing up, but also having the option to has caused some people confusion in the past. People want to just be able to go to a link, pay and be done with it. An yes, the limit on the per transaction amount does prohibit me from selling many of the item I want to, e.g laptops, mobiles etc, even with my account limit set to £300 per transaction without signup.

So once again I would ask what is the best value merchant account out there? Protx seem the best processor, but they still need an account to deposit funds into.

Cheers and take care.

Hussein.