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  1. #1
    SitePoint Zealot BoomPop's Avatar
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    High Volume, PayPal, Merchant Accounts, etc

    We have a relatively high volume business that we are planning to bring onto the web via a storefront and/or Ebay. We're still running offline right now.

    I know that running an online business requires an e-commerce capable merchant account. I also know that Paypal is a helpful tool for accepting payments online (since so many people are already using it).

    My questions are as follows:

    (1) Can anyone recommend an internet merchant account provider that provides services for high volume retailers ($350,000/month or more)?

    (2) How does Paypal handle large volume clients? Do they withhold funds for extended periods, or will they do automatic daily transfers of funds into our business checking account?

    Any experiences you can share on this topic will be most appreciated!

    Thank you.

  2. #2
    SitePoint Enthusiast xredvette6's Avatar
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    [advisor edit - advertising removed]
    Last edited by beley; Feb 29, 2004 at 08:21.
    James Morrow
    Vision Payment Solutions, Inc.
    Merchant Account Solutions for Retail, Mail Order, E-Commerce
    jmorrow@visionpayments.com

  3. #3
    SitePoint Member PayPalGeek's Avatar
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    boompop -

    we can assign an account rep to work with you on planning your PayPal setup... typically we assign a named rep to work with our customers who are doing more than $5-10K per month in volume, so sounds like you would qualify.

    we also have a set of features to help manage higher-volume accounts, including a daily auto-sweep to your bank account (or you can do it yourself manually as well).

    feel free to drop me a private email with your contact information and i can get someone to followup with you on Monday.

    regards,
    - Dave McClure
    http://www.500hats.com
    http://500hats.typepad.com

  4. #4
    SitePoint Wizard silver trophy
    beley's Avatar
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    A good merchant account provider is Total Merchant Services. www.totalmerchantservices.com

    We do not do $350,000/month but they will scale to any size. They use Global Payments to process the transactions, and I have heard it is the largest (if not one of the largest) processors in the world. I'm sure they could handle the volume.

    As far as PayPal goes, I suggest taking Dave up on his offer and getting an account rep. They will definately be able to answer any questions you have.

  5. #5
    Texan at Heart Corey Bryant's Avatar
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    Check out .. Also with a volume like that, you are more than likely looking at a discount rate less than 2.2%. You will need to provide bank statements to back up that monthly amount as well.

    And depending on what you might be selling, you might be subject to a reserve rate on a few companies.

    Actually totalmerchantservces is not the largest Brandon. The largest is First Data. First Data owns a lot of smallers companies. And even Linkpoint, a gateway. And Authorizenet.com even uses one of First Data's platforms to verify transactions.

  6. #6
    SitePoint Wizard silver trophy
    beley's Avatar
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    2.2%? We do MUCH less volume than that and are under 2%. It's all about negotiating

  7. #7
    Texan at Heart Corey Bryant's Avatar
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    Yes that is my point. I just did not want to raise his hopes too much I like to be practical. But it also depends on the average ticket. I would say if it was about $20, then you are looking at around 1.75%. There are just way too many factors to give a rate like that on a message board without looking at previous history etc.

    We actually are in the process of signing up two right now, that have the proof they do that business (previuos CC processing, etc). But they had a high chargeback ratio for a couple of months. Also you can probably get your transaction rate to about $.10-$.15 centa as well

  8. #8
    SitePoint Member Jim Brummett's Avatar
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    There are other high volume merchant account providers who can handle your situation.

  9. #9
    Follow Me On Twitter: @djg gold trophysilver trophybronze trophy Dan Grossman's Avatar
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    Quote Originally Posted by PayPalGeek
    boompop -

    we can assign an account rep to work with you on planning your PayPal setup... typically we assign a named rep to work with our customers who are doing more than $5-10K per month in volume, so sounds like you would qualify.
    Hey, I did nearly 10k by paypal alone last month and don't have a named rep. Not that I need one

    I was wondering if you could explain what the "merchant sales report" is that's linked to from the merchant tab. It goes to a "trial version" showing a week's worth of basic information, but I can't find any information on what it's supposed to be or where the "full" version is?

  10. #10
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    BoomPop

    I think the biggest obstacle you are going to run into here is a merchant provider that will allow you the full processing amount without a cap. Most merchant providers and banks will issue a cap to anyone that does not have a processing history. In your case, your offline history should be enough to get you what you need. However, don't be surprised if you need to route some of your volume to another processor, either through a third-party processor another merchant account of your own.

    If you have further questions, don't hesitate to give me a shout or drop me an email.

    Cheers
    James
    -----
    james

  11. #11
    He's No Good To Me Dead silver trophybronze trophy stymiee's Avatar
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    BoomPop,

    If you've got a financial history for your offline processing, statements etc., getting that kind of volume for the web shouldn't be too tough. Just be sure you get an experienced rep to set you up so it goes smoothly from start to finish. And with the volume you're expecting to do you want someone who can get you the best rate possible.

    Worse case scenario is you get multiple accounts and switch as they fill up. I know it's not ideal, but compared to using third-party processors it will save you a bundle. Something like this isn't done often tho.


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