online payments/merchant account

savingallthetime01

What does everyone think is the best way on this tried loads of different ones and there are things for and against each, it seems some charge a fortune, any help would be appreciated

Equinut

I use Protx on my online store. I had to set up a merchant account number with the bank to enable transactions, then set up an online provider (Protx) to be able to physically transact. They check CVV value and postcode and address match as well and overall I've been pleased with the service. Just need more sales

Cost to me for having the merchant number and Protx system is about £40 monthly. I don't at this stage pay any fees per transaction - the bank waive these for the first 18 months or so of business banking, I think most banks offer this. The Protx system enables me to process payments myself as well as customers making a secure online transation themselves. I can also refund quite easily. Using Protx meant I don't need a separate secure server as they take care of that. Only downside is that the Protx interface is a little clumsy and looks very much like a bolt-on to my site, rather than seamlessly fitting into it.

I considered the Paypal route but it appeared by far inferior. I know of some stores who use Worldpay, don't know much about them.

Equinut

evismaniac

I am in the process of setting up the payments part of me new e-commerce website.

After a lot of investigating, the PayPal payments option is looking like the best route to take. No need for a merchant account, and the PayPal fees do actually work out a little bit less than having to use a merchant account, and then a payment gateway on top of that!

Plus it can work in the background of the website, so the customer never has to leave the site, which personaly I think is a definite must on any website. (it also gives the option to log into paypal and pay that way via express checkout)

We are going to give it a go anyway, and there is always the option to change at a later date!

windswept

you can have 2 options on a paypal account, we just have the basic merchant's package which is totally free, BUT you dont get the virtual terminal with it unless you pay £30 a month! you can get merchant pro with them for £30 a month.
we already have a merchant a/c with lloyds tsb cardnet that is only £5 per month through adelante - that does have a virtual terminal.
So, I use paypal for online payments through our website, and the other system for mail order and CNP transactions (card not present), for face to face transactions I use a mobile phone that has a java application that lets me link to adelante and take payment that way.
I assume that the OP already knows they need a business bank account for paypal's merchant services? as indeed for any merchant account.

evismaniac

you still have to pay the PayPal fees though? Just no monthly charge with that one I believe.

I think the PayPal pro is currently £20 PM.

windswept

evismaniac wrote: »

you still have to pay the PayPal fees though? Just no monthly charge with that one I believe.

I think the PayPal pro is currently £20 PM.

yes I think you are right, sorry.
you do have to pay the fees, I feel that they should have lower fees for the merchant service, I know they do if you take more than £1500 a month (I wish).
my normal merchant account is 2.2% for credit cards and only 30p for debits, as opposed to 3.4% + 20p paypal.
still, the paypal way is a good way of testing the waters without much up front expense.
setting up a merchant account can be an expensive business although there are several ways of getting it much , much cheaper.;)

ukbill69

If you search this forum, you will find many posts relating to this.

powerbase

ukbill69 wrote: »

If you search this forum, you will find many posts relating to this.

Exactly.

My thoughts are paypal is so easy to offer then you may as well. I have noticed many big companies have started to add paypal to their list of payment options because many people asked for it. It's something you can offer for free (obviously fees apply when you accept a payment but these are competitive)

I've gone down the protx route and I think it's the best starter out there. Secpay again is another good one similar to protx.

I'm not a fan of worldpay as it generally is expensive (though like everything there are deals).

Offer paypal to begin with as it's easy to set up (no merchant accounts etc), easily integrated and customers don't have to have an account to use it.

That means you are up and running and then look into the other ones.

ukbill69

Use this link: http://forums.moneysavingexpert.com/search.html?searchid=8696660

Alison_B

There is Nochex also, it is similar to Paypal but a little bit cheaper. I am looking at adding that to my site also. Pity that Natwest finished with their Fastpay, that was great.

chezza262

I'm looking at this at the moment and businesslink.co.uk have a page listing all providers of online payments with info on each one.