Hi all,

I'm seriously considering signing up for Worldpay now as its cheaper than if I used 2checkout/revecom as I stay in the UK.

Before I signup though, I have a few questions for those that already use the service.

I read in another post that you need to gross at least 50k in sales before you are allowed to use WorldAccess (the virtual terminal)? Is this true? This is the main reason I want to sign up so I have the option of processing cc's manually (incase of one off charges etc).

Also, how hard is it for a new company to get accepted? what is required? I heard you need to provide evidence that you are able to pay 1 months of chargebacks. What kind of evidence do I need to show them? I'm a new company, so don't have a history :(

Thanks :)

Its very easy to get accepted, just need to fill in there online form, they basically just ask you how much money you have.

Worldpay is very good....
We have been using it for very long...
We use it only for real time processing... So I can't answer the virtual terminal question.

While applying you can say that you are a startup.
They ask your company formation proof, present assests + a statement from your bank that you have an account there.

Have a great day :)

regards
amar

We have used World Pay for about 9 months now and they provide a very good service a really good price. We use their Virtual terminal as well as real time, not sure if there is a limit as we do over 50K but worth giving them a try

The reason I ask whether it is easy for a new company to apply is because the £50 setup fee is non-refundable i.e If they decline my application, I've just wasted £50!!!

On the order form, for the field:

"Anticipated monthly Internet turnover:"

What should I put in this? We are a new company so our monthly turnover is REALLY low. Would this affect the approval of the application?

I am working from memory but we had to supply 3 years accounts, I think for new starts they ask for a projected balance sheet and profit and loss statement, so put what you have projected for your first year

Well, I anticipate at the least to have around 30 clients within the first year of trading (Low I know, but I don't want to be too optimistic).

Now, our average monthly price over all our packages comes to approx $15.

So that makes a monthly projection of $450.

Is that a reasonable amount to put into this field? Too low? Too high?

Also, if i do put this into this field, what are they going to ask from me in return about providing evidence that I can at least cover this in chargebacks?

Thanks :)

It does seem low, not sure what they would ask for chargebacks, you can insure against them with worldpay, about 1% extra

For a new company, I don't think $450 is too low, considering most of that is profit.

Do you know if they would accept applications that would only bring in this amount monthly in total?

I really cannot answer, we added over a thousand clients in our first year but things were different then - I don't think they are so bothered about the actual numbers just as long as you are covering your costs and your balance sheet doesn't look too bad

but be realistic, if you project just 30 customers in a year you don't get them all in month one otherwise you have 360 by the end of the year, your prediction is to get just 2.5 customers per month, which means $37 month one growing to $450 per month by month twelve, if you are renting a server you are probably looking at $200 per month then you have your telephone/DSL costs etc. So, if you add up your sales based on that you may not cover your costs until after month 6 and you won't make profit in year one - throw the numbers in a spreadsheet and see what works out and then see if your marketing plan can provide those numbers.

Set yourself up a simple 12 month cashflow projection which then drops the numbers into a profit and loss statement and balance sheet, this lets you play with sales/costs and see the bottom line effect, if you know your way around spreadsheets just mock up some numerical scenarios to do the work for you

Well, I'm a reseller, so I don't have the server costs you see. The most I would be spending in a month would be around $50. Thats why I based my calculations around 30 clients.

I'll give your method a try though. Thanks :)

I'll email worldpay as well and ask.

Originally posted by Locutus

Also, how hard is it for a new company to get accepted? what is required? I heard you need to provide evidence that you are able to pay 1 months of chargebacks. What kind of evidence do I need to show them? I'm a new company, so don't have a history :(

Thanks :)

Worldpay didn't received my payment, and they wrote me that they don't know why, so I don't think it is good to trust somebody who have no control other payments, and can not provide necesar support.

Hello

Worldpay issue the virtual terminal with all new accounts.

They have changed the application process so you don't need accounts or paper contracts.
Well worth applying as its proper merchant accounts, not a payment processor.

Gordon

I know Worldpay handles recurring billing with their FuturePay feature but I'm wondering if any of you have integrated this with some billing software to automate your billing process.

I'm pretty sure that most of the billing software for web hosts (Ubersmith, Modernbill, etc.) can't integrate with Worldpay.

Thanks.

Hello
No real need to integrate it as Worldpay tell you if someones credit card has failed. They do the billing.

I suppose our system is different o most hosts on this board.
I use an independent Access database to run the business and have e-mail plugins and parsers attached to it.
It sounds complicated but I feel its more secure and customisable than something which runs on a web server.

Gordon

There is NO 50k limit to use worldaccess, i have 2 accounts with worldpay, on of the accounts only does 3 or 4k a year and that has world access..

also if you know how to integrate with worldpay it is possible to make your own vitual terminal.. we were using a home made one for a whole year before they release worldaccess!!

you may have been doing that but that is against the terms and conditions - to use their service it is the card holder who is supposed to enter the data

:-)

Thats not the case though is it!!! the merchant enters the details in world access dont they!! the idea is you can take telephone/fax orders

The only difference between worldaccess and a custom form, is that you need a passwd to access the worldaccess site..

The only 2 objections i had from worldpay was you could not have a form where the public can enter any money value they like.
second objection was that i should not be allowed to take credit card details direct from my website.

i dont.. i take them from telephone/fax

Nothing to stop the form being run on your desktop so only the merchant has access to it.. or even behind a htaccess passwd.. the idea is to keep the public away from a form of this type..

needless to say i dont need to do this now as worldaccess is available.. just stating it is possible.. and done right does not break the rules..

if it broke the rules they would not have developed world access.. all these points WERE discussed in detail with worldpay BEFORE we signed with them.

no different to the old way we did it.. PDQ machine on the desk, and punch all orders in!

Hello
We are Worldpay Partners and I can confirm that offline processing using a form has always been OK in the UK.
The reason its OK is that online merchant accounts have a special merchant ID number.
You are only permitted to use this ID for internet transactions.
You are not permitted to have a second one.
So using a local form was always OK as long as the data was being sent across the Internet.

All Worldpay did was make up their own form and add it as a "feature" called Worldaccess.

You need to remember that Worldpay is not a third part card processor.
It is a real time payment gateway and you need real merchant accounts to use it.
If you don't have merchant accounts they can help you get them, but you still have proper merchant ID's for each card you accept and your company name appears on customers credit card statements.

Gordon