Tag Info

If you have never had a merchant account, and are based in the US, start with your bank. You should have had a business account with them for over a year, and your rates will be higher through your bank than you can get on your own. But it's a starting point. Once you have had a merchant account for over a year you can shop around for better deals. Merchant ...

Founder of GoCardless here. You can read about some of about our customers here, or see what people are saying about us on twitter. If you've got any technical questions, pop by our campfire room (gocardless.campfirenow.com/3ae88) and we'll be happy to help. Tom

I tend to keep a couple different accounts at the bank. I keep one for operating (where most of my money is kept) and one for our merchant account (incoming) and one for payroll (outgoing). My bank can schedule things if accounts get to certain amounts and schedule things on certain days. So I have payroll scheduled to move $X from operating to payroll ...

I am based in Australia and have recently set up online payments. I used a local bank for the merchant account, Chargify to handle subscriptions (it is for a SaaS product), and then I found a payment gateway that both Chargify and my bank are compatible with. It took a little bit of research to find the 3 components that work together, but nothing that ...

If you are in the US just use PayPal Pro. It's essentially a Gateway/Merchant account and is almost instant. $30/mo plus transaction fees. Any gateway is usually going to charge a monthly statement fee. PayPal Pro makes the entire process simple. Or use Brain Tree it is getting pretty popular and I see a lot of buzz around it.

A merchant account is tricky to get set up and can be a bit costly as well. It is what you will need long term, so if you are sure your idea will work, then I would go for it. No need to go through setting up payment processing twice (quick fix now, then properly later). On the other hand, if your not so confident in your product and are testing the water, ...

Depending on your anticipated transaction volume, and whether or not you can use a merchant account, SagePay Go might be an option. For accounts with less then 1000 transactions per month they charge a single monthly fee of £20.00...there are no fees charged on a per-transaction basis The only thing is they do require that you have an Internet Merchant ...

We managed to obtain a merchant account from FirstData that allows us to use recurring payments. We are using Realex as our payment gateway and they also store the credit card details and allow recurring payments via sending of tokens each month. We had to provide extensive information including our business plan and had to challenge a rejection based on a ...

You have definitely identified the problem - it is the recurring payments. Because you are a start-up you have no trading history to refer to and so it is going to be very difficult to get a merchant account, and when you do you are likely to find that you will be penalized with high rates or retained balance or other conditions. If you can find an ...

Are you operating as an actual financial institution like PayPal or, say, Ally Bank? It sounds like you just want users to be able to add or withdraw credit to/from their account for purchases. NameCheap does something like this: you choose how much you want credited to your account, and it performs a checkout via Paypal, for example, for that amount. So ...

I would take a look at these two links, they explain the details of each player. From those links below: Payment gateway - Software used to transfer payment information from the merchant to acquiring bank. Credit card processors (or third-party processors) - Merchant services providers that handle the details of processing credit card transactions ...

There are three ways you might want to consider, and possibly use them all. Paypal and similar systems Credit Cards -- you can transfer money both into and out of credit and debit card accounts. Paypal can handle this if you have trouble setting up your own credit card accounts. Direct Bank Transfers -- transfer money into or out of someone's bank account, ...

I am not sure about the tax consequences however you will end up paying 2.x% depending on the card in question if you use your Merchant account. If the amount comes in as a wire transfer you will pay between 25$ - 50$ in bank processing fees. If the investment amount is less than a US 1,000 it may make sense to do a credit card payment. But if it is any ...

I have set up a company in NZ that will meet all comsumers online purchase needs without the complexties of banks. Will allow for cross boarder trading. And yes, who says we can't do this. Banks and well known financial institutions plus popular payment gateways have had market dominance for too long.