In light of the new problem many of us are experiencing with 2CheckOut and or other services changing the way they are doing business. Can anyone make any good suggestions for Merchant Account services (instead of processors like 2CheckOut or iBill)?

I'm with Paysystems / RevECom; but for those who have read the fine print, they do exactly the same thing that 2checkout is just now proposing to do: they sell "points" to the customer at a 1:1 ratio, which the customer can then redeem for services available through Paysystems - services and goods which Paysystems purchases from you at a 1:1 ratio.

Here's how the "new business model" works, with the points and tokens:

Scribehost sells one year's worth of web hosting with X features to 2checkout for amount Y. 2checkout then sells tokens, or "points", to the customer, at $1 a token. The client then purchases - from 2checkout - one year's worth of web hosting with X features from Scribehost, using tokens purchased from 2checkout. The number of tokens required to purchase the hosting just happens to equal amount Y. All these exchanges happen exactly at the point of sale, and at current, clients can't go to 2checkout or Paysystems or whomever, purchase X amount of tokens, and then take those "tokens" to a virtual shopping center and redeem them for whatever they see. They can only redeem those tokens for the product or service which they came to the payment processor intending to buy. If the various processors added in a "points redemption system", they'd have a huge amount of overhead to deal with.

It's similar to what happens when you put a stamp on a letter - the stamp itself has no intrinsic value, and is valueless outside the context of marking postage with proof that a certain amount has been paid to your local postal service for the shipping and handling of said postage. (Exceptions made for collectibles, naturally; and their value is to other collectors or stamp-collecting speculators, not to the random individual off the street who is clueless / doesn't care about stamp collecting.)

wow...well does anyone have have any suggestions about true Merchant services companies that they use? What prices they pay per month and so on?

Call your bank. Skip all the middle-people. For high volume you'll get better rates that way.

We just started using Onlinedatacorp.

The deal we have for our clients is:
2.29% discount rate
.30 transaction fee
$25 Monthly Minimum
$19.95 monthly gateway fee
$10.00 monthly statement fee
$99.00 annual fee
$0 application fee
$0 setup fee

We actually use Linkpoint for our own needs.

HTH

Pete Stoermer

Originally posted by totlhosting
We just started using Onlinedatacorp.

The deal we have for our clients is:
2.29% discount rate
.30 transaction fee
$25 Monthly Minimum
$19.95 monthly gateway fee
$10.00 monthly statement fee
$99.00 annual fee
$0 application fee
$0 setup fee

We actually use Linkpoint for our own needs.

HTH

Pete Stoermer I must warn you, to RUN at all cost! Don't process money with them, and get your setup fee refunded!!!

Chickensteak, if your refering to the onlinedatacorp, setup is free, but if its the other I have no comments.

www.bluepay.com (setup isn't free) or atleast since we've been with them...

If you would like to setup an authorize.net account through Wells Fargo here is the info:

29.00 /mo.
2.35%
0.30 per tran
0.01 AVS per tran
15.00 chargeback fee

99.00 ONE time setup for gateway

They are really great people. Talk to:

Maria Gunn
1-877-857-2650

They can have you setup in a few days after approval. Any questions about it I would be happy to answer chris@radicalv.com

-Chris

CS,

Yes, please expand your comments. Are you talking about one, the other or both?

We just started using ODC and have been very happy with Linkpoint for 3 years.

And please, if you have a comment, give details, not just "RUN!"

Anecdotal or documented evidence is always appreciated.

Thanks.

Pete Stoermer

Three suggestions:

1) Your bank get a merchant account through them if they have a good payment gateway. Best rates and you'll get your money the fastest.

2)Wells Fargo: http://www.wellsfargo.com/biz/products/merchant/merchant.jhtml
Works with Authorize.net & VeriSign PayFlow

3)PayPal
Works awesome! Plus you can use autosweep to transfer your balance into your main banking account on a daily basis and you can earn money by using their debit card
See: http://www.webhostingtalk.com/showthread.php?s=&threadid=89904

Whoops Chris missed your post...

Yeah Maria Gunn is a good lady and she will definettly get your account setup fast.

Plus I believe if you sign up online your account can be active the same day....

ChickenSteak,

If OnlineDataCorp is so bad then why are you still with them???:confused:

I don't think CS said he was with "them" though I haven't heard who "they" are yet :bawling:

Pete Stoermer

www.bluepay.com (setup isn't free) or atleast since we've been with them...

If you go to BluePay.com you can see the little OnlineDataCorp Logo on the site...

Just curisous... thats all

Thanks. I never bothered to look.

So either he was referring to Linkpoint or else ... :D

Pete