Most cost-efficient payment processing for a website?

m33r4

Hi all.

I have just launched an e-business website and currently have only Paypal processing payments.
Paypal charges fees of 3.4% + £0.20 for each transaction.

Is there another reputable payment processor that offers better value to small business/start-up businesses such as mine please?

I have a business account with Barclays and they have offered me their shopping cart page at a cost of £10 per month and 3% fees per transaction. This is a monthly facility and I am not tied in to any long term contract.

Thanks.

WLM21

there's also Google Checkout, but don't know about costs .. see the link below

https://accounts.google.com/ServiceLogin?service=sierra&continue=https://checkout.google.com/main?upgrade%3Dtrue&hl=en_GB&nui=1<mpl=default&sacu=1

I would think your bank offer would be quite a good deal and makes a business look more professional.

Good luck in your venture

BaggieBoy_3

Based on the above i'd go for Barclays. Looks a good deal and although will probably work out more expensive than Paypal initially, i find that some people will not use Paypal or do not realise that they don't have to have a Paypal account to pay.

Any idea how much you are going to take per month (difficult to say i suppose being a startup) and will it be lots of smaller transactions or is it fairly high value?

m33r4

BaggieBoy wrote: »

Based on the above i'd go for Barclays. Looks a good deal and although will probably work out more expensive than Paypal initially, i find that some people will not use Paypal or do not realise that they don't have to have a Paypal account to pay.

Any idea how much you are going to take per month (difficult to say i suppose being a startup) and will it be lots of smaller transactions or is it fairly high value?

I presume smaller transactions to be honest hence I went for Paypal as there is no monthly charge.

chalkie99

I was not aware of the Barclays offering so just "Googled" it.

It is not the clearest wording I have seen but, as I read it, there is a a charge per transaction of 3% which is subject to a minimum of £10 per month and also a separate £10 fee for the "online facility". Therefore, you are looking at £20 per month. Might be worth checking this again, I could have got it wrong.

At £20 it is not such a bargain as it looks a little difficult to integrate and their are plenty of other solutions available.

I would recommend adding Google Checkout as an option to PayPal. It has identical fees but seems more respected by users and less likely to be used by dishonest buyers.

What sort of software are you using for your shopping cart? This might have a bearing on your best solution.

stephent82

Moneybookers (AKA Skrill) is one of the cheapest 'free' providers. It also looks quite professional when incorporated using API. I would, however, recommend using PayPal in addition to others. People feel comfortable with PayPal and as such it should help you encourage custom.

andyh2003

if your processing small fees it might be worth considering the Paypal Micro Payments option.... it charges the same % but only 5p per transaction.... ideal for anything below around £5.

im also considering different options! as a startup i think im leaning more towards paypal and google... once generate some business might move to sagepayments.

spike241

andyh2003 wrote: »

if your processing small fees it might be worth considering the Paypal Micro Payments option.... it charges the same % but only 5p per transaction.... ideal for anything below around £5.

im also considering different options! as a startup i think im leaning more towards paypal and google... once generate some business might move to sagepayments.

It actually charges 5% + 5p per transaction, but for anything less than ~£10 it works out cheaper

andyh2003

Spike241 - thanks for clarifying that!

Im in the midst of looking through it all deciding whats best for me- i think the Micro Payments is better for my situation.

Do you know if anything over £10 is under the normal terms of 20p +% or does it stay as 5p +5%?

m33r4

andyh2003 wrote: »

if your processing small fees it might be worth considering the Paypal Micro Payments option.... it charges the same % but only 5p per transaction.... ideal for anything below around £5.

im also considering different options! as a startup i think im leaning more towards paypal and google... once generate some business might move to sagepayments.

I presume Paypal charges 3.4% + £0.20 on the total end of month bill or is that per transaction please?

Thanks.

andyh2003

Per Transaction im afraid...

for example.

if you have a £2 item.

Micro Payments option would be less 5p & 5% = 15p

Normal Paypal - Less 20p and 3.4%(?) = 27p