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  1. #1
    SitePoint Zealot mattyj's Avatar
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    help with payment system

    let me get this straight,

    2Co, PayPal, Worldpay, Austhorizenet, netbilling, and all those are third party processors, right? Which let you electronically transfer money from online sales from their repository straight to your checking account or personal account (or your clients if you are developing for a client). And that by using these companies you don't need your own merchant account, because they include this in with their service as part of one system. And your own merchant account should be looked into (as an upgrade from any of these third party processors) once you are processing over certain amount each month - larger amounts. Why (upgrade to your own merchant account?) Do you still keep 3rd party as a processor and alter the services you have with them (if moved to own merchant account), or move to a different type of processor altogether?

    So if I set up with PayPal or any of these I don't need to worry about a merchant account. Whats the catch.

  2. #2
    Texan at Heart Corey Bryant's Avatar
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    2Co is a third party processor - sort of. Their business plan is different, but that is what it boils down to.

    Paysystems is moving from the third party industry to the merchant account provider.

    Authorizenet.com & Netbilling are gateways only - you still need a CC processor. Think of it this way - a merchant account is made of of the gateway & a CC processor.

    There is no catch really. Using 2CO or another third party processor, you have to wait to get your money or contact them to tell them you want your money. With your own merchant account, they usually deposit the money into your checking out account 24-48 hours.

  3. #3
    SitePoint Zealot mattyj's Avatar
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    I thought with payPal the money from sales goes into my PayPal account and then I can just withdraw it to my bank account (no need for merchant account?)

    I want to keep it as simple and low as possible, just to start making sales. If I can sign up with PayPal, begin accepting credit card sales, and syphon the money back to Australia that sounds good to me. Maybe I should ask them (PP).

  4. #4
    SitePoint Member rjcbear's Avatar
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    help with payment system

    I do Use paypal and I am very happy with it also I have a business account and all you have to do is select transfer money to my bank account. at firdt you have a limit of $500 USD but one you very all your info that get up-graded to $3000 so you can have all the freedom.

    Good luck and kind regards,
    Ricky

  5. #5
    SitePoint Zealot mattyj's Avatar
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    hi Rickster,

    why do they limit what you have in your paypal account and why's it $3000. Do you have to monitor this and transfer it out (to bank) before it exceeds? What happens if you make a lot of sales suddenly and it maxes out the paypal account - do the sales still go through. Does it auto-transfer to bank? $3000 seems like a bit but it could be limited, I don't know. But paypal seem to have a good chart with the costs.
    Last edited by mattyj; Jun 7, 2004 at 18:33.


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