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Accepting credit cards
without merchant account.
If you are looking for ways to
accept credit card online without using any merchant account,
consider the few companies in this article. Be prepared to
pay a few percentage commissions to the company from your sales. This article provides some basic
information on adding credit card payment facilities to your
website.
Accepting credit card payment allow you to take advantage of the following
types of customers:
- Impulse buyers. After
reading your advertisements and hype on your site, buyers would
be all fired up about your product. If they have a means of
making a purchase immediately, you've secured that sale. If you
only allow cheque payments, the additional time it takes for
them to get their cheque book and mail out the cheque may be a
deterrence. They may also have second thoughts later.
- International customers.
Credit card payment is a tremendous convenience if your
customers are overseas. It automatically takes care of the
problems of currency differences as well as the time it takes
for a cheque to travel to the vendor. You will lose a large
number of overseas customers if cheque payment is the only way
you can accept payment.
Methods of Accepting Credit Card Payments
There are actually two ways in which you can accept credit cards
on your site.
- Using Your Own Merchant Account.
To do this, you will need a bank that will allow you to open a
merchant account. Requirements for this will vary from country
to country, and you should check with your local banks for more
information on this.
- Through a Third Party Merchant.
There are numerous companies around will are willing to accept
credit cards payments on your behalf in exchange for various
fees and percentages.
Charge.com
Customer service is good, but payment period seems to be
inconsistent. Research carefully before you sign up.
ClickBank.net
There is a one time setup fee (US$49.95) and a
transaction fee of US$1 plus 7.5% of sale price. There are no other
monthly fees. This is only for people who sell services or deliver
products over the internet (not for those who need to ship physical
products).
WorldPay.com
WorldPay enable thousands of businesses to accept payments on the
internet, by phone, fax or mail. Credit and debit cards, bank
transfers, instalments - even mobile payments.
Digipay.com
This service is
intended for software authors only. They charge 13.9% per
transaction. I'm not sure if there are any other charges.
Kagi
There are no setup or
monthly fees with this merchant. Kagi "charges 6.5% up to a maximum
of [US]$3.00... plus 3.5% plus [US]$0.50 for processing costs".
PayPal
If you are a Premier
or Business account user, you get charged US$0.25 for transactions
of US$15 and below, 1.9% plus US$0.25 for transactions above US$15
when your customers pay by credit card. They require your customers
to sign up for their services before they can pay you. This can be a
deterrent for your customers.
ProPay.com
A new competitor to PayPal (see elsewhere on this page) that currently only caters to US
residents. You have to pay a $35 fee to sign up, but there are no
monthly charges.
RegNow.com
Designed for
software authors to sell their ware, this merchant deducts 20% of
your sale price with a minimum of US$2.00 for their commission.
There are also other charges for sales generated by your affiliates,
etc.
Verza.com
There are no setup or monthly charges. Transaction
charges range from 4.9% to 6.9% of your sale price plus US $0.99.
CardPay.net
One of the competitive credit card processing companies in the
internet industry yet without compromising quality.
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