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  1. #1
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    Question Choosing a Payment Processing Company

    Hi to all,

    I'm new to this site, but already learnt so much from reading some posts!!

    I would like some advice on choosing a payment processing company for my site. The developer has recommended Ikobo, however I have read some bad feedback from this. The site will be just for the UK.

    The site is to a dedicated place for students to buy and sell their second hand books. The payment of the book will be directly between the buyer and seller, either by cheque, paypal, bank transfer etc. However I will charge a small fee to the seller for every book sold. There are 3 ways I thought I could do this.

    1. Charge 7.5% of the price of the book sold
    2. Charge 1.25 (for every book sold (no matter what the price)
    3. Do either of the above, but send out a monthly invoice stating the number of books sold and the total to pay.

    Now I don't know exactly how to go about this. Worldpay said that because I don't own the books I can't do this unless I charge for the service (ie. charge sellers to list their books which I don't want to do).

    I was thinking of doing the following: When a user wants to sell their first book, they will be asked for they cred/debit card details which will be stored. Payments will be taken from this card.

    Can anyone help out in any sort of way with any advice or websites to read for more information?

    Thanks in advance!!

    Nasrin

  2. #2
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    I've been reading more and more posts on here ... and doing some research.

    Would 2checkout.com be able to provide me with the services I need? I am not actually selling a product online - I would like to charge to use a service and only when a book is sold. I have emailed 2checkout but would aprpeciate some replies here too if anyone knows whether it can work?

  3. #3
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    I'm guessing this is advertising your own services ....

    anyone with any actual advice?

  4. #4
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    Quote Originally Posted by Nasrin
    I'm guessing this is advertising your own services ....

    anyone with any actual advice?
    Hello Nasrin,
    the problem of charging is more easyer than the problem of fraud. How you will protect buyers? What if the buyer will pay and the seller will not send anything? Did you thopught about it?
    What about payment methods - DO NOT USE MONEY ORDERS, they are potenial headache for you and your buyers. You can use i think Nochex.com for Uk.. However think twice ...

  5. #5
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    Quote Originally Posted by FighterSpirit
    I have found great & free merchant services.
    Low-cost way to accept credit card and bank account payments for your Website.
    Sign up for either an individual or a business account. Takes less than 2 minutes!

    Turn your international traffic into cash - "local" payments from over 30 countries. Avoid lost sales by letting consumers pay the way they prefer.

    Integration is FREE - no set up or monthly fees.
    Low transaction fees (as low as 1% capped at EUR 0.50).
    All payments are made instantly - money can be transferred to your bank account as soon as it is received. No rolling reserve!
    100% fraud and chargeback protection.
    Sell with ease: convenient HTML interface, simple integration, detailed transaction records.
    High payment security.
    Inclusion in shopping directory - boost sales!

    I think u will be banned in this way....

    ADMIN WHERE ARE YOUR EYES???

  6. #6
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    Quote Originally Posted by MarPay
    Hello Nasrin,
    the problem of charging is more easyer than the problem of fraud. How you will protect buyers? What if the buyer will pay and the seller will not send anything? Did you thopught about it?
    What about payment methods - DO NOT USE MONEY ORDERS, they are potenial headache for you and your buyers. You can use i think Nochex.com for Uk.. However think twice ...
    Thanks for your reply. I have thought about this. My site just provides a service, we are not responsible for the exchange between the buyer and the seller but we have a feedback system so that buyers and sellers could feel a bit safer with someone with positive ratings. This is the same case with amazon and ebay, and I dont think either of them take responsibility for items that the other person doesn't send or money for that matter. The user will just get negative feedback and with a lot of negative feedback they will probably be banned.

    I will also be giving users the chance to meet locally to buy/sell their books Most uni's have the same reading lists year after year, so if you don't feel safe waiting for money and sending the book - you could alway indicate you will only sell the book to an individual at your uni/near your uni


    I was thinking, would I be able to do this ...

    When the user wants to sell their first book online, to take their debit/credit card details and authorise this. Then every time the seller sells a book it is loged in their account and at the end of each month an invoice is sent ...

    and either the account is debited automatically (is this possible if they agree to it when they enter their card details?) or they click on a link which takes them to my site and they can pay for it there....

    could I do this?

  7. #7
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    Quote Originally Posted by Nasrin
    Thanks for your reply. I have thought about this. My site just provides a service, we are not responsible for the exchange between the buyer and the seller but we have a feedback system so that buyers and sellers could feel a bit safer with someone with positive ratings. This is the same case with amazon and ebay, and I dont think either of them take responsibility for items that the other person doesn't send or money for that matter. The user will just get negative feedback and with a lot of negative feedback they will probably be banned.

    I will also be giving users the chance to meet locally to buy/sell their books Most uni's have the same reading lists year after year, so if you don't feel safe waiting for money and sending the book - you could alway indicate you will only sell the book to an individual at your uni/near your uni


    I was thinking, would I be able to do this ...

    When the user wants to sell their first book online, to take their debit/credit card details and authorise this. Then every time the seller sells a book it is loged in their account and at the end of each month an invoice is sent ...

    and either the account is debited automatically (is this possible if they agree to it when they enter their card details?) or they click on a link which takes them to my site and they can pay for it there....

    could I do this?
    I can give you one good thought. Just put service named ESCROW on your site and make more money. You take the money, then when the confirmation is sent that the book is in the buyers hand or you will get the proof of delivery, then send the money to the seller. Even you can be the dealer. I mean you get both and the money and the book and send them to the real adresses. If your clients are just in UK and i think they also not so far from your UNI then it will be VERY easy...
    But think twice.

  8. #8
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    Quote Originally Posted by Nasrin
    Hi to all,

    I'm new to this site, but already learnt so much from reading some posts!!

    I would like some advice on choosing a payment processing company for my site. The developer has recommended Ikobo, however I have read some bad feedback from this. The site will be just for the UK.

    The site is to a dedicated place for students to buy and sell their second hand books. The payment of the book will be directly between the buyer and seller, either by cheque, paypal, bank transfer etc. However I will charge a small fee to the seller for every book sold. There are 3 ways I thought I could do this.

    1. Charge 7.5% of the price of the book sold
    2. Charge 1.25 (for every book sold (no matter what the price)
    3. Do either of the above, but send out a monthly invoice stating the number of books sold and the total to pay.

    Now I don't know exactly how to go about this. Worldpay said that because I don't own the books I can't do this unless I charge for the service (ie. charge sellers to list their books which I don't want to do).

    I was thinking of doing the following: When a user wants to sell their first book, they will be asked for they cred/debit card details which will be stored. Payments will be taken from this card.

    Can anyone help out in any sort of way with any advice or websites to read for more information?

    Thanks in advance!!

    Nasrin
    Could be difficult if you give buyers and sellers their info - they could just do it privately. A very small fee to list may be the way - at least until it is a popular site.

  9. #9
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    Initially the fee would be nothing - until the site builds up a bit. After that the fees will be less than half of what Amazon is charging!

    I have no idea how ESCROW works so will look into it


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