Setting up an online business - PLEASE HELP!

INCOMING

Hi there, I am about to set up an online business and I need some help and advice regarding a merchant account.

I need an merchant account in order to accept debit/credit card payments. How do I go about setting up one? Do I need to go to a bank to setup a business account?

I will be using authorize.net to take payments.

Another thing is, authorize.net have sent me the following fields, what do I do?

About your business? Sole Proprietor/Partnership/Limited company/LLP/PLC

Buying group or trade organisation?

Existing streamline relationship?

Do you accept full payment prior to the supply of goods or services?

many thanks

Diabolical_Rem

Hi INCOMING,

Google something called web-merchant.co.uk. These are "merchant accounts", which I think is what you're looking for. They process debit and credit card payments online. You should be able to link your account directly to your bank. If not, contact your bank and ask them what you should do to make it compatible. Their financial advisor is probably well-versed in adapting online transactions to physical currency.

INCOMING

Diabolical_Rem wrote: »

Hi INCOMING,

Google something called web-merchant.co.uk. These are "merchant accounts", which I think is what you're looking for. They process debit and credit card payments online. You should be able to link your account directly to your bank. If not, contact your bank and ask them what you should do to make it compatible. Their financial advisor is probably well-versed in adapting online transactions to physical currency.

Many thanks, checked web-merchant out but I believe it cannot be intergrated with shopify. Which will be a problem and that's my shopping cart.

Diabolical_Rem

INCOMING wrote: »

Many thanks, checked web-merchant out but I believe it cannot be intergrated with shopify. Which will be a problem and that's my shopping cart.

Paypal offers a merchant account setup that is compatible with Shopify. You can also transfer from your Paypal to your bank rather seamlessly. It takes a week or so for funds to clear but I am unsure if this is reduced any with the upgraded account type.

Taverman

A great way to take Direct Debit payments is by using www.gocardless.com
There is no setup fee or monthly costs, and you are only charged 1% of any transactions (These are capped to a maximum of £2 per transaction)

Mark7724

As other members have advised you should be able to use the google or paypal options, both will provide assistance to you on getting this set up.

Other clients I have done web work for have used WorldPay and this can be quite simply integrated into your existing site. There are quite a few different options available to you however and they seem to vary greatly in cost and what I considered most important of all, customer service as you are bound to have queries and need to contact them.

The most difficult part of your decision will be based on the likely volumes of business your site will generate and whether you should try and opt for standing charge or pay per transaction with a smaller or no standing charge.

shmeeko69

Another route to consider is paydot.com. They act as an effective middleman between your online business and paypal and take 5% commission of any sales.

There is no setup fees and what you get is a professional and effective payment gateway which looks pleasing on the eye. If you run in to any problems then, they will try and sort it out quickly unlike paypal who take an eternity.

M.Holloway

I would probably advise you to stay with Streamline, this merchant account review site has an overview of the reviews for streamline which seems better received than other MA providers.

jimmy1968

Sage Pay is a viable option - a friend of mine has used it for the last year and is happy with it and also has reasonable fees.

mrsyardbroom

INCOMING wrote: »

I will be using authorize.net to take payments.

Another thing is, authorize.net have sent me the following fields, what do I do?

About your business? Sole Proprietor/Partnership/Limited company/LLP/PLC

If you've already decided to use Authorize then the next step is to decide what sort of business structure you have and how your legal responsibilities are defined. This page might be useful to you.https://www.gov.uk/business-legal-structures/overview

Good luck.