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11-12-2005, 12:16 PM #1Newbie
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- Nov 2005
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Payment gateway recommandation for high volumn bussniss?
Dear All:
We're runing a bussniss that sells intangible goods to our customer, the monthly incoming is over 1M USD. We're currently using Paypal as payment gateway but is very unsatified with it. They do nothing to protect us against fraud (SPP is not for intangible goods :-|) and they suspends our account just as they wish, For the stupid reason of "sudden increase of income"!
We're going to replace paypal with new payment gateway, following is our concern ordered by priority
1. Transaction fee, we have more then 10k transaction each month, lower transaction fee is important to us. Monthly and setup fee is irrelevant.
2. Good protection against credit card fraud.Our product typically sends to buyer within 30 minutes. If they charge back after this, we lost not only revenue but also the cost of the product.
3. Short withdraw time, or we need more cash to support the bussniss.
4. Board range of acceptable payments, we'll have to keep minimal paypal support but we want to use it's payment method as little as possible.
5. Aside from USD, we want to accept EURO and GBP too, it's not a high priotiy issue though.
Any recommandation is appreciated, thanks for the input
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11-12-2005, 12:32 PM #2WHT Addict
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- Nov 2003
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- Essex, UK.
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1M USD per month for intangible goods means you're making a hell of a profit.
I'm very surprised you're still with paypal pushing that kind of money. Go and see your bank manager and forget about 3rd party payment gateways forevervalvemedia ltd • private label reseller specialists!
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11-12-2005, 12:49 PM #3Newbie
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- Nov 2005
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Originally Posted by Valve Ben
What's point to talk to the bank manager anyways? All we need is payment gateway though.
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11-12-2005, 01:03 PM #4WHT Addict
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Your bank will be able to give you much better transaction rates than using a 3rd party gateway.
Generally you have to have quite a lot of throughput for them to even consider giving you an online merchant account but with what you are pushing I'm sure they'll be more than happy to give you a good deal.
The less you pay for transactions, the more profit so it's a good idea to speak to a few different banks direct.valvemedia ltd • private label reseller specialists!
web hosting, e-commerce, content management and awesome design services
Looking to sell? we are on the acquisition trail - US/UK hosts only.
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11-12-2005, 01:53 PM #5Web Hosting Master
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Worldpay.com is you outside of USA
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11-12-2005, 05:37 PM #6Junior Guru Wannabe
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- Oct 2005
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yeah, definitely drop paypal fast. give http://ubcnow.com a try.
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11-12-2005, 08:12 PM #7Texan at Heart
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Check with a few merchant account processors. It seems you are in the United States so you will have a few options available to you. PayPal will be using the Verisign's gateway soon so that might be an option as well. Verisign uses the First Data platform (which most gateways in the United States use) and First Data also owns Linkpoint - which is the largest gateway in the United States. It is branded a few different names but is sold by Chase (the largest ISO in the US for the past few years) as well as Paymentech, Wells, and a few others.
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11-13-2005, 12:48 AM #8Newbie
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- Nov 2005
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Originally Posted by Corey Bryant
And the relationship of the payment gateway processors are a bit complex :-\
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11-13-2005, 09:59 AM #9Junior Guru Wannabe
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- Aug 2005
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I would recommend applying to Safecharge
they are very professional in dealing with high volume merchants
www.safecharge.com
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11-14-2005, 12:51 AM #10WHT Addict
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they are too expensive
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11-14-2005, 08:06 AM #11Retired Moderator
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You might also check out a couple of the merchant account providers active here at WHT:
CDGCommerce: http://www.cdgcommerce.com (WHT user cdgcommerce)
MerchantAccounts4Less: http://www.merchantaccounts4less.com (WHT user Corey Bryant)
I can't speak for MA4L as I haven't personally used them (although their rep here seems very knowledgeable), but I can say that CDG is quite professional and friendly, and their rates are quite competitive. Worth checking out<?php echo "Signature here"; ?>
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11-14-2005, 01:34 PM #12Junior Guru
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- May 2005
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With that kind of volume, you should consider pursuing a direct account. Making sure the provider is onboard with the monthly volume will be key. Regardless of whether it is domestic or offshore.
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12-02-2005, 06:15 PM #13The E-Commerce Answer Guy
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Thanks for the mention, P-Nut.
DavidGuo, at a volume of $1M per month you will definitely want to setup a direct merchant account. If you provide the required financial documents and prior statements from PayPal, you should not have any problem getting approved by a merchant processor who is very familiar and focused on Internet/e-commerce processing.
In terms of rates & fees, I would suggest requesting a custom proposal from any merchant processor that you talk to and make sure to mention your specific circumstances, volumes, etc. so that this can all be taken into account.
Some merchant processors even bundle fraud scrubbing tools into their pricing and service - and I'm talking about other services beyond just the standard AVS & CVV that everyone provides.
You should also ask for a detailed plan of action on methods to reduce your fraud and find out specifically what each processor would recommend. Any solid Internet merchant processor should be able to give a concrete list of steps that you can take and help formulate a strategy with you.
Best of luck with your search for a solution!CDGcommerce.com - Trusted Merchant Account Solutions since 1998
Many thousands of successful, growing businesses benefit from our expertise every day. You can, too!
We help merchants to eliminate gateway costs, reduce & mitigate fraud and achieve streamlined PCI compliance.
Learn more today at http://www.cdgcommerce.com - we look forward to helping your business grow!
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12-02-2005, 09:26 PM #14Newbie
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- Nov 2005
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cdgcommerce rates seem very competitive.