Revecom advice

[tommatthews]

Hi all. I am considering signing a client up to Revecom to accept on-line payments for their club web site.
I am just trying to work out the exact cost of using a third party proccesor but Revecom were a bit vague with their responces to my enquiries.

The way it looks is:
For a $50 sale you pay a -
3.95% commision
Transaction Fee - $1.00
You are left with: $47.03
(not including 5% of total sales withheld for 90 days to cover chargebacks or refund requests).

Is this all the costs or is there also a additional merchant "Discount rate" (ie. 3% percent) that the bank/card company will deduct on each approved credit card transaction?

I appriciate any advice on this.

[Sparkie]

I wish I could help you...

I signed up with them over a month ago, faxed in all the necessary information..and haven't heard from them since.

I think something is up.

[jconley2]

Keep me updated Sparkie, I know they went through some changes. Maybe you got lost in red tape? I'd e-mail them... again.

Tom...

The prices they quoted are what you'll be charged, should be no more, no less. Only fee you left out is the one-time sign-up which is $50 USD I believe. Otherwise, the processing costs you indicated are the only other charges that apply.

To your success,

Jim Conley II
Your Payment Acceptance Expert

[tommatthews]

Thanks mate

[Sparkie]

Originally posted by jconley2
Keep me updated Sparkie, I know they went through some changes. Maybe you got lost in red tape? I'd e-mail them... again.

I've done that several times..and nothing. I'm not very comforted by the fact that I get sketchy, if any responses from them..and also now they have my signed authorization to charge my credit card - but I'm not a member "yet". Am cancelling my account there...

[jconley2]

Thanks for the update!

To your success,

Jim Conley II
Your Payment Acceptance Expert

[tommatthews]

I'm not very comforted by the fact that I get sketchy, if any responses from them..

Yea, that was my problem as well. When I asked a detailed question they just replied "look at the web site"!

Jim - I couldn't find any Revecom reviews on your web site.

[tommatthews]

Sparkie - Who did you end up using?

[jconley2]

Tom - I'm getting ready to have a section on 3rd Party Processors going up in the next week or two. Right now the site focuses on real merchant accounts. I've gotten a lot of feedback to put a section for 3rd parties and I'm doing that now. My programmer is setting up a reviews section for them also as we speak.

For reviews I'd do a search in the SitePoint Forums (you'll see the search box at the top of the page) for "Revecom" and you'll see some reviews others have posted on them.

I can see why 3rd parties would be sketchy with their response on rates and fees. Why? Cause there's nothing much to them. Usually only a discount rate and per transaction fee. Sometimes only a discount rate. And a few do throw in a setup fee, but otherwise it is pretty straight forward.

When purchasing a real merchant account there are more fees and rates to contend with so I would expect a much more lengthy e-mail about what the rates and fees are and what purpose they hold.

But on the other hand I can understand why a sketchy e-mail with "just a facts" may send up a few red flags. We tend to look for a friendly, well laid out e-mail. Rightfully so too I think as it would add crediblity to the business and show that they take a unique interest in your business and its needs.

And also, many people aren't familiar with payment processing so they don't understand that only those fees apply.

I would think sketchy would be OK as long as they give some closure without any open ends that would prompt the interested prospect with more questions.

I once read that if are receiving questions via e-mail (phone or by other means) that you've failed to fully inform the prospect properly. Many people won't take the time to e-mail their questions and will end up clicking off to another site that does answer all their questions. My suggestion is any questions you receive once you answer the prospect (within 24 hours, the sooner the better) to go ahead and add in that information on your site, or else you can expect to be answering that question again in the future. Not to mention maybe even losing a few possible customers along the way.

Anyway I'm getting off track so I'm stopping here. Just thought I'd pass along some words of wisdom.

To your success,

Jim Conley II
Your Payment Acceptance Expert

[tommatthews]

Thanks Jim.
I just hope someone takes notice of your advice.
I agree, I personally prefer not to have to email for more info as I expect all neccesary info to make a educated choice to be provided on a web site, otherwise, as you say, you just go somewhere else that does have the info you need. If the info was there in the first place I wouldn't have had to email revecom and then they just replied to look at the web site.

For example, on the Revecom web site they say "We currently process in 180 different currencies. We can pay our merchants in 22 currencies." But don't actually state which ones! Also a list of shopping carts they support would be handy.

Other then PayPal are there any other services that you could suggest that I look at that doesn't have monthly or annual charges?

I look forward to checking out your new 3rd party proccessors section.

[jconley2]

If Revecom told you that, then I'd forget them and move on elsewhere. They aren't worth your time. All they see is what is in front of them, they aren't looking towards the future. That's too bad too, they could of had another client.

My suggestion would be http://www.2checkout.com They have a very attractive package and their site should answer all your questions.

Only downside I see with them is the fact that their company name is what shows on customers' credit card statements (at least for now). They are a growing company and are constantly adding on new solutions and I would be willing to wager that it won't be long before they'll be putting the merchants name, phone number, e-mail or company name on customer credit card statements instead of just "2CheckOut".

Their support is quite responsive also as I tried it out one day. You can search the forums for reviews of 2CheckOut, I know their are a few floating around. They aren't widely known, but I think that'll be changing before long... call it a gut feeling. They even have a small list of a few of their clients, you might could e-mail them a generic e-mail asking about what they think of 2CheckOut.

I've got a slew of other 3rd Party company links, but instead of giving you the whole list I thought I'd give a personal recommendation (also based on others reviews and experiences). I've never used them, but from what I'm hearing their a rolling stone that's not gathering moss.

I'll be posting when the new section is up so folks can come by and leave their reviews of companies.

To your success,

Jim Conley II
Your Payment Acceptance Expert

[jconley2]

In addition to my reply above I wouldn't think the issue of 2CheckOut's name being on customer statements would really pose a major threat for your type of business. Since you work personally, one-on-one with your clients you could easily tell them what name would appear on their statement. If you were a business that didn't have direct contact with each individual customer I could see this as being more of an issue. But not in your case.

To your success,

Jim Conley II
Your Payment Acceptance Expert

[jconley2]

Here's a recent thread on 2CheckOut, there are others out there within the forum: http://sitepointforums.com/showthrea...threadid=33626

To your success,

Jim Conley II
Your Payment Acceptance Expert

[tommatthews]

Thanks Jim, they look promising.
I am going a bit cold on Revecom now but there have been some good comments on them here so would love to here of anyone elses recent experience with them.

[hstraf]

Hi Jim,

I just wanted to take a moment and thank you for your various postings in these forums. You always seem to take a neutral stance on everything, and that adds a lot of credibility to your thoughts and comments.

Cheers,
Henri Straforelli

[jconley2]

Hi Henri,

Thanks much for your warm compliments. I try my hardest to answer peoples questions in a detailed manner. I like to show interest in peoples needs and questions by being genuine.

By the way... I gave you $3 at GimmeABuck.com

If you ever run by a post somewhere (or hear someone looking for info on payment acceptance) in regards to payment acceptance direct them to MerchantSeek if you would!

To your success,

Jim Conley II
Your Payment Acceptance Expert

[hstraf]

I will absolutely point them to your site. As a matter of fact.. since I discovered your site on these forums I've sent the link to at least six of my friends who are also doing design work. I found your site to be very informative and helpful, and I'm sure they will too.

I also just recommended it to several of my clients, who are interested in getting merchant accounts.. it saves me from having to explain a whole lot of stuff to them!

Oh ya.. and thanks for your "donation"!

Cheers.

[jconley2]

Wow, thanks much! More great information and soon interactive tutorials will be in place within the next week or two. I've got lots of new additons to make that will certainly be exciting. Including an upcoming section on 3rd Party Processors with a section to add reviews on them.

To your success,

Jim Conley II
Your Payment Acceptance Expert

[hstraf]

Don't forget to add a "can charge in foreign currency" category to your 3rd party vendor section. This way, we Canadians (or other non-US folk) can see right away if the vendor will be suitable for our needs.

Cheers.

[jconley2]

Have no fear, I've already incorporated a "Multi-Currency" category. Once it's up I'll let you know so you can do a run through and if you have ideas you can let me know so I can make necessary changes.

To your success,

Jim Conley II
Your Payment Acceptance Expert