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  1. #1
    ********* Addict
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    Could someone please tell me how one can get merchant account, how much it costs, and everything else that's important about it.

    Thanks in advance,
    Boris
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  2. #2
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    Eeuu...

    This is going to be one of those things that you're going to want to mainly do with your own research and time. Coupla quick notes though,

    -Cost vary _widely_. (From just plain stupidly outrageous to "actually a great price.") There are more sites with outrageous prices than great prices.

    -You're not going to just need a merchant account. You also will need a payment gateway (someone to process charges to your bank account) and a virtual terminal (a program or computer that processes charges). These usually cost more money and monthly fees. The best merchant account providers provide these reasonalbly. The outrageous ones charge an arm and a leg for the gateway and terminal as well as the merchant account fees. And the stupid ones "pretend" they're giving you a deal by having low account fees but charging outrageous cost for the gateway and terminal or vise versa.

    -People will recommend payment processing companies like ibill and others (can't think of the names off hand), but it seem's to me these services eat into you profits more than would a merchant account/payment gateway/terminal. (I guess it's either pay big cost up front for true credit card processing but keep the long term profit or pay big cost's over the long haul, but little up front for a payment processing service).

    -Nevertheless look for a merchant account w/ fee's around 2.35% and .20 cents a transaction. NO application fee. NO statement fee. NO other monthly fees. A set up fee of around $50. Transaction minimum around $20/mo.

    -Do I got any recommendations??? Nope, still looking myself.

    (and why do I always write such long posts???? Is this post helpfull or just blathering?)


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    [Edited by mfarmerhi on 09-25-2000 at 10:52 PM]

  3. #3
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    i was looking to use charge.com, what do u guys think?

    -james

  4. #4
    SitePoint Zealot Tiger_Tom's Avatar
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    I think they're ok [in that I recall hearing good things about then, and no bad things ]

    http://www.mktmkt.com might be better. Cheaper, *I think*, and they've been around a while. I'd try to avoid getting involved in software hire/purchase, as it's a rip-off, to my mind. Just get the account first. Virtual terminals you have to key into aren't ideal for a webmaster; get a shopping cart, or even a secure order form if you've just one or two products. There are FREE highly-specified carts around. A lot of these companies who offer merchant accounts want to make you their cash-cow.

    I'd go so far as to say that a company that insists you purchase their terminals or software as a condition of getting a merchant account are to be utterly avoided.

    An all-in-one pay-as-you-go service like Ibill is better if you're just starting out, don't have many products, are selling your own software, rather than expensive tangibles.

    Sorry to rave on; this is a personal hobby-horse of mine.

    TigerTom
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