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Summary : Choosing the right payment processor to accept credit cards for your
E-business is a difficult and time consuming task. Like bank accounts or
mortgages, there are just so many options
Choosing the right merchant services to accept credit cards for your E-Business
is a difficult and time consuming task. Like bank accounts or mortgages, there
are just so many options, you need to take an honest look at your own
circumstances and desires for the future of your E-business before you make a
firm decision.
We can generally separate payment processing into either third party processors,
where you use another company’s processing account, or a full blown merchant
account of your own. There are pros and cons of both options and making the
simple decision of which to look at should be your absolute first decision when
looking for a processing account.
To help you, then, here are my top eight reasons why third party processors may
be the perfect option...
Cheap Set Up
Whilst some merchant accounts will set you up for free, they are very much in
the minority. A fee of several hundred rands is commonplace in the industry,
while you can set up a quality third party processing account for next to
nothing.
Easy To Set Up
With merchant accounts, the application process usually involves *lots* of
paperwork - and I mean potentially dozens of pages, audited accounts, bank
statements, proof of identification and all sorts of other things. On the other
hand, getting a third party processing account involves little or no paperwork
at all - making your life a lot easier.
Quick Set Up
Since there is not the paperwork and checks involved in a third party account
that you find in merchant accounts, it can also be a lot quicker to set up.
There are several companies that literally allow an E-business to accept credit
cards on the same day of application.
Low Entry Requirements
If you choose the right third party account, you need to give only minimal
information about yourself - and you’re virtually guaranteed an account.
International Acceptance
While it differs from provider to provider, many of these accounts are available
no matter where you live. Canada? No problem! UK - come on in! Australia -
pleased to meet you. Europe? Just sign here please.
Easy Integration With Your Site
One comment often leveled at merchant account providers is how complicated some
find integrating their E-business site with the payment gateway. Many third
party processors have "wizards" that automatically generate a secure order form
after you provide the basic details of your products. You just link to that form
and you’re away. It couldn’t be much easier.
No Monthly Fees
One additional factor to consider is that merchant accounts often charge a
monthly fee. They may charge a statement fee, they may charge you to use their
payment gateway, or secure server - or just to keep your account open.
Unfortunately, it can be quite difficult for the Internet newbie to make any
more than a handful of sales at the start. Sure, with dedication and hard work
this can soon increase - but if you’re paying for your webhosting, broadband,
autoresponder etc. each month, these fees can soon add up.
No Monthly Minimums
This is even more important. You see, most merchant accounts also have a minimum
monthly value you must process. If you fail to meet it, you either get charged
an additional fee, or your account can be shut down.
When I first started out as an E-business, I was making one sale every two to
three weeks - for a total value of about R100. Now, as I learned how to market my
site, sales picked up rapidly, but if I had to meet monthly minimums, my
E-business could have died before it even got started.
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South African Payment Gateways:
http://www.iveri.co.za/
http://www.paygate.co.za/
http://www.pay4it.co.za/cgi-bin/pay4it/load.pl?apply
http://www.nvart.co.za/creditcards.htm |
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If you would like to review or revise
the design of your website, contact us now for more information and find out
how we can add value to your website development. |
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Professional Website design and hosting in South Africa |
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For further information contact Gordon Barker Internet Strategist co.za design4 |
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Web Design and Hosting South Africa |
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