merchant account

powerbase

Hi,

I have my business account with abbey. I take online payments via paypoo and even though you don't need to sign up anymore I have noticed this does put off some customers (more than I originally thought).

I want to take payments from protx or secpay (I think protx looks best) but you need a merchant account. This is where I get confused.

Abbey are my business bank, they can set up a merchant account with streamline (X amount a mounth plus a certain % of the transaction) and then you use this with an online processing method like protx which again is say £20 a month. So it seems like a big chain and you pay at each step.

A couple of questions and some general advice would be appreciated.
Is my basic understanding of how to take online payments via a website correct?
Is streamline a good merchant account?
Would it be better getting a merchant account not connected to my business bank account?

I know at the start it may be initially more expensive but I think it would encourage more customers and not put them off the way paypoo does.

Any advice on getting a merchant account setting it up? Anything better than protx out there?

Thanks for listening.

Regards

skippy64

I use secpay in conjunction with streamline and I have had no problems at all. I used to have a terminal also for my mail order sales but I have now got rid of that as I can now do transactions over the phone by using the virtual terminal facility on secpay. I looked at protx but my web hosting for my internet site preferred secpay for the gateway provider for payment from the shopping cart on my site. Hope this helps.

powerbase

Thanks. Are streamline expensive merchants? I think if I go with them through abbey, they has done a deal so I don't have to pay any up front connection fees just the monthly and percentage.

Any ideas?

skippy64

Fees wise I haven't got any info to hand, I think its best to see what you can haggle on based on your volume of sales. They usually review it after 1 year but I'm sure other people will have had experience with other merchants.

Astaroth

Streamline is one of the largest providers (if not the largest) and are owned by the RBS.

https://www.worldpay.com is another offering from the RBS which covers off both the online presense and the merchant account side of things so may be another consideration worth thinking about.

All true merchant account setups are going to have significantly higher up front costs but lower handling fees so a close look at your volumes needs to be done.

There are other 1/2 way houses between the likes of PayPal and full Merchant accounts - https://www.nochex.com do a "merchant account" option which does allow you to customise the site to look much more like your own but doesnt have the heavy up front fees

powerbase

Thanks guys. I'll have a little think about it. I think being with abbey they have managed to get a no up front fee for streamline only the monthly fee and then the percentage. If it didn't take too much effort I'd probably try and set this up with protx of secpay. I think I'm just lazy and hate the chain of connecting three things together. I'll keep you possted with what I think.

One other thing does anyone else think paypoo puts people off?

powerbase

Astaroth

Very much a yes from me as it puts me off.... if I see a webstore that uses paypal it says it is either a con, spotty teenager or bored housewife rather than a "real" company - I am sure there are plenty of perfectly reputable companies that do use paypal but this is my gut reaction.

I will use paypal for small transactions with companies but will look elsewhere if I feel the average transaction would be more than a few quid (eBay is different). Did find one computer company that used paypal for payments but because of the transaction limit they asked me to make 3 seperate payments for it which I polietly declined and went to another company

powerbase

I agree. It would put me off but I take other things into consideration, I look at the site, information provided, do they provide contact details and a working telephone number?

Not many people would do that though, I think it's one look and it's off (that's why I asked).

I'll start the ball rolling with a merchant account at the end of the week as I'm not a spotty teenager, a con or a bored housewife :rotfl:

As I said before it the thought of setting it up it just seems complicated and easy to get it wrong (high fees).

Anyone else with abbey business banking and has a merchant account?

Back to work

shinkyshonky

Astaroth wrote:

Very much a yes from me as it puts me off.... if I see a webstore that uses paypal it says it is either a con, spotty teenager or bored housewife rather than a "real" company - I am sure there are plenty of perfectly reputable companies that do use paypal but this is my gut reaction.

I will use paypal for small transactions with companies but will look elsewhere if I feel the average transaction would be more than a few quid (eBay is different). Did find one computer company that used paypal for payments but because of the transaction limit they asked me to make 3 seperate payments for it which I polietly declined and went to another company

Regarding this

I would just like peoples thoughts on this

I haave a business due to go online
not your run of the mill , it is a specialist site, very health orientated
I am qualified in this area
I`m not selling magic diet pills, miracle fat loss pills liquids or whatever these
dodgy people sell!!!!!!!!!!!!!

The would require require a payment of either £30 or £50 by paypal
or people can pay by cheque /postal order
I have a ssl certificate as well
and I realise the implications of paypal

I have a clinic address professional tel number /website

but just worried about paypal`s image

cannot really get a merchant account yet...any thoughts...

Astaroth

There are other providers out there like NoChex that dont have the very bad image that PayPal does - they offer 2 levels of service either a paypal type offering where you go to their website to make the payment and it is branded NoChex. The second offering they call a merchant account but I would argue that it isnt a true merchant account - carries a £50 setup fee and whilst payment is still taken on their site you are able to brand the pages to your sites look/ feel.

shinkyshonky

Astaroth wrote:

There are other providers out there like NoChex that dont have the very bad image that PayPal does - they offer 2 levels of service either a paypal type offering where you go to their website to make the payment and it is branded NoChex. The second offering they call a merchant account but I would argue that it isnt a true merchant account - carries a £50 setup fee and whilst payment is still taken on their site you are able to brand the pages to your sites look/ feel.

So do you feel it would better to use than paypal..............

say nochex looks more professional....

As my prices are never going to change from payment of either £30 or £50 for a quite sometime

And the service I will provide is very health based

eventually might put