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  1. #1
    Join Date
    Nov 2004
    Posts
    113

    Credit card processing merchant account recommendations

    Hi,

    Could you please recommned me a credit card processing merchant account with a good company for my web hosting business.

    I checked on 2checkout.com but not sure. There charges are 5.5% + .45c each transcation .. kind of high.

    Thanks

  2. #2
    Join Date
    Aug 2004
    Location
    Groton, Connecticut
    Posts
    925
    This shall fall under the category of Ecommerce Discussion,

    What I'll recommend is cdgcommerce

    see this thread for more information,
    http://webhostingtalk.com/showthread.php?t=457688

  3. #3
    Join Date
    Apr 2005
    Location
    Atlanta, GA
    Posts
    454
    do not use United Bank Card. We use them and have had a number of problems so far. My recomendation would be to go with your bank where you have your business account.
    [color=#666666]Ackoo Solutions, LLC

  4. #4
    Join Date
    Jun 2005
    Location
    San Diego, CA, USA
    Posts
    213
    We use 2CO. It is high transcation fee, but 2CO make us easiler on billing. Also 2CO check fraud, so we don't have to care about fraud...We think 2CO is good one for us.

  5. #5
    Join Date
    Jun 2004
    Location
    North of some border
    Posts
    5,589
    Moved to E-Commerce Discussion.

    Lois
    Do you have a WHT question or concern? Please open a helpdesk ticket.

    "Do what you can, where you are, with what you have." Theodore Roosevelt

  6. #6
    Well as I am in the same boat, looking for a new merchant account, I will tell you the one I recently found and applied for:

    http://www.merchantlogic.com/rates.html

    Check them out, they are affiliated with JP Morgan Chase (Big NY bank). They are the cheapest I've found lately and no early term fees. I am waiting for a response from them for my quote, I will keep you updated

  7. #7
    Join Date
    Jul 2003
    Location
    Castle Pines, CO
    Posts
    7,189
    It all depends on what country you are actually in. If you are in the United States you have more choices available to you

  8. #8
    Ok, well I've signed up with them.

    All the basics, nightly batch processing,

    By my calculations based on last months transaction volume, I will be cutting my fees from $356 to $187 with these guys. Sounds good to me

  9. #9
    Join Date
    Nov 2004
    Posts
    113
    Talked to John @ merchant logic and it seems their rates are good but the only other monthy charges are:
    --------------------------------
    $7 for statement
    $9.95 for gateway payment

    So 16.95 each month flat with or without any transcation.
    -------------------------------


    They use authorise.net gateway-- Any complaints or suggestions


    Thanks

  10. #10
    Yep this is what I got too.

    Currently this month I paid my current Merchant Account $356. with this place I will be paying only $180. Thats huge.

    This month for my store:
    150 Transactions
    $7500 total sales

    Merchant Logic
    2.24% Discount
    $7 monthly statement
    $9.95 Authorize.net monthly gateway
    $0.25 per transaction
    $0.00 annual fee
    $0.00 termination fee
    ~
    $187

    I've been using payquake for the past 2 years because my old store didn't sell much, so it was good, but now I sell about 150 transactions per month for near lots of money in sales.

    Payquake:
    3.89% Discount
    $0 monthly statement
    $0 Authorize.net monthly gateway
    $0.50 per transaction
    $49.99 annual fee
    $0.00 termination fee
    ~
    $356

    Works for me

  11. #11
    Join Date
    Aug 2003
    Location
    Chesapeake, VA
    Posts
    3,379
    Thanks for the mention and kind words, PTH.
    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!

  12. #12
    Join Date
    Nov 2005
    Posts
    47
    i recommend authorize.net
    check out e-onlinedata.net who's a reseller for authorize.net
    http://www.ImBae.net - Million Dollar Site For Online Entrepreneurs
    http://www.iGoLink.com - Buy Your Link and Advertise Today

  13. #13
    Quote Originally Posted by ImBae.net
    i recommend authorize.net
    check out e-onlinedata.net who's a reseller for authorize.net
    Authorize.net is a gateway, not a merchant. Most "good" merchants will offer authorize.net, and yes I recommend Authorize.net as the gateway as well.

  14. #14
    Join Date
    Nov 2004
    Posts
    113
    Hi All,

    I still haven't decided yet but most likely I will go with http://www.merchantlogic.com/rates.html , if I dont find any other good compitetor.

    There charges are good so far. If any one of you are their customer, Please share your experience.


    Thanks
    infotq

  15. #15
    Quote Originally Posted by infotq
    Hi All,

    I still haven't decided yet but most likely I will go with http://www.merchantlogic.com/rates.html , if I dont find any other good compitetor.

    There charges are good so far. If any one of you are their customer, Please share your experience.


    Thanks
    infotq
    Yep, these are the guys I just signed up with. They were very communicative. Talked to Jon Monge and he was quick to send a quote over to my email. I filled it out and asked him some quick questions:

    Will they deposit funds into my personal bank? - YES
    Will the Discount rates ever go up? - NO
    Do you accept international credit cards? - YES
    Do you contract out the processing to another bank? THEY USE IPAYMENT, AN AFFILIATE OF JP MORGAN CHASE.
    Over / Under limit fees? - IF ITS WITHIN REASON, NO. IF YOU SET YOUR MONTHLY LIMIT TO $5000 AND THEN SELL $6500, NO FEE. BUT IF YOU MARKED $5000 and SOLD $10,000, THEN THERE COULD BE. NO UNDER LIMIT FEE, ITS GOOD TO SET HIGH.
    Monthly Minimum? - NO

    That was it. I signed and faxed the contract back and the next day at noon I was given my authorize.net account and set it up. Now I am processing since last friday with no problems.

  16. #16
    Quote Originally Posted by DssTrainer
    Will the Discount rates ever go up? - NO
    I would personally be wary of anyone claiming this, because it's not completely honest. Visa/MC control the underlying interchange rates, not the processor, and when they raise rates, as they did this last April, the processors have to pass the increase on to the merchants or they would be losing money.

  17. #17
    Join Date
    Aug 2003
    Location
    Chesapeake, VA
    Posts
    3,379
    Good point, AMSDallas. I was about to mention the very same thing when I read your post.

    In fact, I know first hand that iPayment, Inc. has raised their merchant's pricing due to Interchange increases as we still have an older merchant portfolio with them from many years prior and I receive those announcements myself from them.

    Personally, I think the proper response to that question by that particular sales agent would have been to more honestly state that yes - the pricing is subject to change with any future Visa/MasterCard interchange price increases but -notwithstanding such a change- it is fixed "as is."
    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!

  18. #18
    Join Date
    Jun 2004
    Posts
    137
    any updates on this merchantlogic company?

  19. #19
    Join Date
    Jul 2002
    Location
    Panama
    Posts
    199
    Me too, I send an email to see if they accept international customers.
    Video Games, Card Games, Rol games, Manga and Comics, PC parts.

    covalto.com
    megagente.com

  20. #20
    Quote Originally Posted by megagente
    Me too, I send an email to see if they accept international customers.
    Yes they do accept international, I thought i put that in one of my earlier emails mentioning all the questions I asked them.

    As far as rate increase.. I think if you are in a contract at a certain rate, you stick at that rate.. and new customers pay the higher newer rate..

    Even if this is not true.. the possibility of a potential rate increase probably A) is impossible to know what the credit card company will do, and B) isn't worth mentioning to get everyone uptight.. I mean its not like they are going to go from 2% to 8% overnight. I don't remember my previous accounts contract terms.. but I think the original rate was 3.85% and when i finally canceled it was like 3.93% but to be honest I don't remember if that percentage was what was quoted to me originally or if that was the average rate listed on their site. All the same .08 percent over a 3 year period is hardly worth mentioning.

    I am still super impressed with them after 3 months. Everything is as they say. All my money is deposited into my account in a timely fashion. MerchantLogic has a long term customer in me. I take orders worldwide without problem.

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