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  1. #1
    Join Date
    Nov 2001
    Posts
    309

    www.interservbilling.com only 3% and no transaction fee?

    Does anybody use www.interservbilling.com? Only 3% of the transaction amount and that's it. This sounds to good to be true.
    Any opinions?

    Peter

  2. #2
    If it sounds too good to be true, it normally is.

    Still, I would like to hear what some of their users think.
    ::: Jeremy C. Wright :::
    http://www.ensight.org

  3. #3
    I dont think they are launched yet for one thing. Secondly i've been researching the third party billing industry for quite a while and I find what they're advertising to be quite difficult to acheive, let me explain why.

    - I have researched over 100 merchant account providers for this type of business, I have not found one which offers a 0cent transaction fee or a discount rate around 2% or 3% for that matter. The other thing that strikes me as odd is that American Express is known to offer not too good a discount rate to such businesses and it usually ranges between 3% to 3.5%. Not so sure about Discover/Novus.

    - To acheive a low discount rate of around 2% you need around 500,000$ in volume.

    - The only providers I've seen which offer such low rates or no transaction fees are in North America where it illegal to run a third party billing service (on a N. American merchant account that is). Its called factoring and VISA/MC forbid it.

    - Even if their discount rate is 2% or 1.5% (which is next to impossible without a transaction fee). I dont project how they plan on staying in business unless they have literally 2 million $ in transactions each month. Even so with such a low margin (Say 1%) I just dont see how they plan on staying in business EVEN with the setup fees.

    I dont mean to contradict these guys but it really is too good to be true. Right now I am considering WorldPay, Revecom, 2checkout and Hostcharge, I'll probably end up going with WP since they have a very good reputation.

    Oh yeah and I am sure TomD of 2checkout.com can vouch for this as well as he works for a third party cc processor.

  4. #4
    Don't mean to "butt" in here, but 1.5-2%, where did you get that from???

    Again, the rates on the website are just preliminary and nothing is set in stone.

    Any yes, it will be at least 30-60 months before the system is launched. We have our beta testers and just wanted to inform the community about this company.

  5. #5
    Join Date
    Apr 2002
    Location
    AU
    Posts
    1,048
    30 - 60 months?

    So not for at least 2 years, up to 5?

  6. #6
    LOL. Sorry folks, been working all night. 30-60 days

    Still many things to do. This is just an estimated launch date and can be changed.

  7. #7
    Join Date
    Apr 2002
    Location
    AU
    Posts
    1,048
    What sort of fraud control you got in place?

  8. #8
    can you comment on any of the facts that i stated interserv?
    sorry to 'grill' you but you can never be sure with new companies

  9. #9
    That system is currently being put in place. Basically we will be utilizing FraudScreen.net, powered by EFalcon. It checks and takes into consideration:

    -IP Address
    -Demographics (country, region)
    -ISP
    -Zip Code Entered
    -Billing Address

    After a transaction is put into the system, the fraud detection begins and the merchant will see the fraud report and have the option of proceeding with the transcation or get more information.

  10. #10
    Join Date
    Apr 2002
    Location
    Europe
    Posts
    135
    A 3% fee sounds really good! I'll definately swith over to you if you get a good reputation.

  11. #11
    Hi Mack. That is okay No problem. I completely agree with new companies. All that you said is 100% true and we must still gather more information. I am not the contact responsible for the merchant end, but we are trying to setup alliances to get a reduced rate. Same thing for connectivity.

    As far as rates are concerned, I agree with you. AMEX and Discover are the most expensive credit card merchants out there and this will take some time to do. I am very sure we can continue negotiating and be able to pass on the savings. The rates may increase or decrease, but our business plan is structured to not charge our users per transaction fees.

    If you have any other questions, comments or issues pertaining to this, please let me know and I will look into them for you.

    Take care.


    Sorry about the delay in respones, I have been getting this a lot:


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  12. #12
    Join Date
    Apr 2002
    Location
    AU
    Posts
    1,048
    A 3% fee is a good fee for a merchant direct thru the bank - even they are usuall 3.5 - 4%

  13. #13
    I will keep you posted as far as rates are concerned and the outcome.

  14. #14
    Join Date
    Jun 2002
    Location
    Portland, OR
    Posts
    75
    Are most merchant accounts really that much? 3-5%? My local bank keeps emailing me offering a merchant account for 2.4% and $.30 per transaction. $15/month fee for authorize.net.

    I might just use them instead of 3rd party. who knows.




  15. #15
    Join Date
    Jun 2002
    Posts
    189
    Originally posted by InterServ-JB
    After a transaction is put into the system, the fraud detection begins and the merchant will see the fraud report and have the option of proceeding with the transcation or get more information.
    Hell I'd sign-up just for that feature!!!!
    I've asked similar questions to the others and they basically told me it on me. Which I don't have a clue besides the .htaccess I found on another thread to keep fraud countries off site completlely!!!!

    Only prob is I don't have 30-60 Days much less Months

    Is there any of them that have this kinda feature NOW!!!

  16. #16
    Join Date
    May 2002
    Location
    Durham - UK
    Posts
    445
    If you are in the UK check out PayStamp.com no setup fee and low percentage of each transaction. Well worth it i have been with them for two months now and its a great service. Bob and Sam are also very helpful and provide fast support when needed.
    Barry
    UK Based Freelance PHP Developer
    PHP/SQL/Ajax/HTML5 - Contact for Quote

  17. #17
    Join Date
    Jan 2002
    Posts
    142
    Does PayStamp accept applications from other countries than UK?

  18. #18
    Join Date
    May 2002
    Location
    Durham - UK
    Posts
    445
    Not that i know off. But you are better asking a member of there support team. Or visit there site for details.
    Barry
    UK Based Freelance PHP Developer
    PHP/SQL/Ajax/HTML5 - Contact for Quote

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