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  1. #1

    Post merchant account?

    who is better Paysystems or 2checkout?
    JD
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  2. #2
    Join Date
    Jul 2002
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    those arent merchant account, but 3rd party processors :-P
    Nick Twaddell
    WebSpace Solutions - Custom E-Solutions
    Fast, Reliable, Affordable Web Hosting

  3. #3
    Join Date
    Oct 2001
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    God's Country :)
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    I never used any of those but they're too expensive IMO.

  4. #4
    Join Date
    Oct 2001
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    Atlanta, GA
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    Don't forget to check out hostcharge.com

  5. #5
    HostCharge is even more expensive than just going with a full-fledged merchant account with authorize.net.

  6. #6
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    San Luis Obispo, CA
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    i got my merchant account through wellsfargo, their an authorize.net reseller also. They will take care of you in 24-48 hours with decent prices
    Nick Twaddell
    WebSpace Solutions - Custom E-Solutions
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  7. #7
    Join Date
    Mar 2002
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    154
    HostCharge is even more expensive than just going with a full-fledged merchant account with authorize.net.
    For somebody just starting out their basic plan is very reasonable and allow you to make a profit on a shoe string:

    $0 Setup
    $0 Monthly
    $0 transaction fee
    8% rate
    $3 transfer fee

    Seems reasonable.

  8. #8
    Join Date
    Jun 2002
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    189
    Ya that is the best I ever seen!!!
    8% w jack sh*t else..
    still works out a lil more than the "norm" 4.?% +10 MCC +10 Statement +change per transaction

  9. #9
    Join Date
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    Panama
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    I have been seen now the 8% margin is better for new hosting companies.

  10. #10
    I would also recomend Wells Fargo but if you want a 3rd party processor paysystems will probably work out the best for you.
    Multiple Image Corporation - http://www.multipleimage.com
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  11. #11
    Join Date
    Jul 2002
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    Talking

    Ooops! there´s one thing I saw at the bottom of the hostcharge price table. They charge .40 more:

    * With a minimum commission of USD 00.40 per transaction.

    It makes it more expensive.

  12. #12
    Join Date
    Sep 2001
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    all over
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    Why not get a real merchant account?

  13. #13
    Join Date
    May 2002
    Posts
    40

    Quick comparison

    fyi - here is some research I did on cc processors:

    # trans: 100 Total volume: $10,000.00
    payable (% of sales )
    AuthorizeNet $848.00 (8.48%)
    Revecom $544.00 (5.44%)
    PayPal $420.00 (4.20%)
    HostCharge (Basic) $859.00 (8.40%)
    HostCharge (Direct) $601.40 (6.01%)
    HostCharge (Select) $608.40 (6.08%)
    WorldPay $1,225.42 (12.25%)
    2checkout $644.99 (6.45%)
    Merchantanywhere $724.00 (7.24%)

    PayPal has the cheapest way to accept payments. The above numbers do not include check sending fees (i.e HostCharge charges you $3.00 to send you your money, whereas Revecom, Paypal, 2Checkout do not).

  14. #14
    Join Date
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    2checkout.com seems to be the best solution to me.
    Founder of TradeHolding.com B2B Network and OneLoveNet.com Singles & Dating
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  15. #15
    Join Date
    May 2001
    Posts
    264
    Hi j_rumba,

    I just wanted to correct one aspect of your post....PayPal does charge 1.50 for check withdrawals (only domestic US users can ask for a check). Domestic (US) users do not have to pay withdrawal fees.

    I was a little curious on your calculations...was this for international or domestic? Domestic users are charged at 2.2/2.9 and .30 cents per transaction, so the numbers seem high.
    Damon
    PayPal Consumer Relations

  16. #16
    Join Date
    May 2001
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    1,349
    The infamous Paypal bot is back.

  17. #17
    Join Date
    May 2001
    Posts
    264

    Hi Skeptical,

    I can assure you that I am quite human (perhaps too human)
    Damon
    PayPal Consumer Relations

  18. #18
    Join Date
    Jun 2002
    Posts
    189
    I personally like Paypal for the fact it can be used in a number of areas w/o needing sperate accounts.

  19. #19

    3rd parties

    At one time, 2checkout was cheaper for lower volume sales and there was a difference between the acceptance of various foreign currency or credit cards. Did 2checkout expand this and does anyone know what their set up fees are now?
    Kind Regards

  20. #20
    Join Date
    Dec 2001
    Posts
    539

    Re: Quick comparison

    Originally posted by j_rumba
    fyi - here is some research I did on cc processors:

    # trans: 100 Total volume: $10,000.00
    payable (% of sales )
    AuthorizeNet $848.00 (8.48%)
    Revecom $544.00 (5.44%)
    PayPal $420.00 (4.20%)
    HostCharge (Basic) $859.00 (8.40%)
    HostCharge (Direct) $601.40 (6.01%)
    HostCharge (Select) $608.40 (6.08%)
    WorldPay $1,225.42 (12.25%)
    2checkout $644.99 (6.45%)
    Merchantanywhere $724.00 (7.24%)

    PayPal has the cheapest way to accept payments. The above numbers do not include check sending fees (i.e HostCharge charges you $3.00 to send you your money, whereas Revecom, Paypal, 2Checkout do not).
    Ummmm....

    10,000.00 -5.5% = $550.00
    100 trans. x $0.45 = 45.00
    Total Fees = $595.00
    Total Payable To Seller = $9,405.00
    "Real" % (incl. trans) = 5.95%

    Unless I misunderstood something.

  21. #21
    Join Date
    Jun 2001
    Location
    Gotham City
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    Re: Quick comparison

    Originally posted by j_rumba
    fyi - here is some research I did on cc processors:

    # trans: 100 Total volume: $10,000.00
    payable (% of sales )
    AuthorizeNet $848.00 (8.48%)
    Revecom $544.00 (5.44%)
    PayPal $420.00 (4.20%)
    HostCharge (Basic) $859.00 (8.40%)
    HostCharge (Direct) $601.40 (6.01%)
    HostCharge (Select) $608.40 (6.08%)
    WorldPay $1,225.42 (12.25%)
    2checkout $644.99 (6.45%)
    Merchantanywhere $724.00 (7.24%)

    PayPal has the cheapest way to accept payments. The above numbers do not include check sending fees (i.e HostCharge charges you $3.00 to send you your money, whereas Revecom, Paypal, 2Checkout do not).

    Your calculations are way off:

    HostCharge select = 4% discount + 50 transaction fee = 4.5% (if the transaction size is 100)

    Therefore $10,000 x 4.5% = $450.
    $450 + $9.95 (mcc access charge) + (wire fee, $3 or $13).

    You might want to revise those incorrect figures.
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  22. #22
    Join Date
    Nov 2000
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    Yeah, I don't think there is a single figure correct there

    AuthorizeNet $848.00 (8.48%) (this is Charge.com rates)

    2.35% x 10,000 = $235
    $0.30 x 100 = $30
    Statement Fee = $10.00
    Real Time (Lease) = $49.95
    Gateway Fee = $15.00

    $235 + $30 + $10.00 + $49.95 + $15.00 = $339.95

    What I think is funny, is people saying "HostCharge is more expensive then the rest"... It's all about volume! Furthermore, HostCharge support has been great! I wish they would lower there "USD 100,000 in gross sales per month" for your name on the credit card statement .

    I don't really care how much I process I like 3rd-Party companies, besides that the additional fees can be a tax right-off anyhoo, so what's it matter?
    A well-reasoned assumption is very close to fact.
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  23. #23
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    Jun 2001
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    Originally posted by comphosting
    Yeah, I don't think there is a single figure correct there

    AuthorizeNet $848.00 (8.48%) (this is Charge.com rates)

    2.35% x 10,000 = $235
    $0.30 x 100 = $30
    Statement Fee = $10.00
    Real Time (Lease) = $49.95
    Gateway Fee = $15.00

    $235 + $30 + $10.00 + $49.95 + $15.00 = $339.95

    What I think is funny, is people saying "HostCharge is more expensive then the rest"... It's all about volume! Furthermore, HostCharge support has been great! I wish they would lower there "USD 100,000 in gross sales per month" for your name on the credit card statement .

    I don't really care how much I process I like 3rd-Party companies, besides that the additional fees can be a tax right-off anyhoo, so what's it matter?
    comphosting, we're already working on the custom billing descriptors
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  24. #24
    Paypal eh? That reminds me that I have to contact my bank to enforce a CHARGEBACK for the one or two dollars paypal deducted from my credit card when I signed up (international customer verification). Yeah, that's right, because when I did log into my account wanting to (shock horror here folks) use it as per the whole deal that is behind the service I signed up for... Guess, what? My account never ever having been used, and with it's measly balance of one buck or so - had been suspended! That's right! Apparently signing up to their service makes you a suspicious character. Have I emailded support. Well I never found an email address on the site so I submitted by support request via their web form. Did I hear anything back from them? No. Am I going to charge back to get back my one or two dollars (I can't remember now how much it was). You bet I am. Charging someone for a service not delivered is not on. Sure it's only a buck or so, but I bet it adds up for paypal. It's just a pitty I'm not their pal.

    I would not touch paypal with a barge pole. I can't conceive how a serious business would want to go anywhere near them.

  25. #25
    Join Date
    Jun 2002
    Posts
    189
    A serious business would offer their clients the option!
    I don't see your logic on that!?!
    There are thousands of people that have one and trust it's security of their personal info over whatever a particular website may have!

  26. #26
    Join Date
    May 2002
    Posts
    40

    Host Charge Select

    I calculated them as:

    Monthly fee $9.95
    setup fee: $39 (you forgot to add this fee)
    discount rate: 4%
    trans rate: .5 /ea

    So you take the monthly fee x 12 plus the setup fee = $158.40, then you add your 100 transactions (.5 x 100 = $50), and take 4% of $10,000 ($400)

    or $158.40+$50+$400=$608.40

    If your sales are $10,000 and it cost you $608.40, then you cost of sales is 6.08%

    thanks for keeping me on my toes

  27. #27
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    Jun 2001
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    Gotham City
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    Re: Host Charge Select

    Originally posted by j_rumba
    I calculated them as:

    Monthly fee $9.95
    setup fee: $39 (you forgot to add this fee)
    discount rate: 4%
    trans rate: .5 /ea

    So you take the monthly fee x 12 plus the setup fee = $158.40, then you add your 100 transactions (.5 x 100 = $50), and take 4% of $10,000 ($400)

    or $158.40+$50+$400=$608.40

    If your sales are $10,000 and it cost you $608.40, then you cost of sales is 6.08%

    thanks for keeping me on my toes
    Makes sense. But next month you dont pay a setup fee. So thats a misleading
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  28. #28
    Join Date
    May 2002
    Posts
    40
    AuthorizeNet calculations:

    You forgot the gateway and merchant fees are monthly, not annual.

    monthly Gateway($32) and monthly Merchant fee ($16)= $224
    discount rate, 2.25% (or $225)
    transaction rate, .47/ea (or $47)
    therefore:
    $224+$225+$47= $848 (or 8.48% of sales)

  29. #29
    Join Date
    May 2002
    Posts
    40
    After I take out the setup fees, the subsequent annual cost of sales are as follows (I also dropped paypal down a percent, because I am international, it costs me more):

    # trans: 100 $10,000.00 (% of sales )
    AuthorizeNet $848.00 (8.48%)
    Revecom $495.00 (4.95%)
    PayPal $320.00 (3.20%)
    HostCharge (Basic) $840.00 (8.40%)
    HostCharge (Direct) $572.40 (5.72%)
    HostCharge (Select) $569.40 (5.69%)
    2checkout $644.99 (6.45%)
    Merchantanywhere $724.00 (7.24%)

    Of course there is the saying "you get what you pay for"

  30. #30
    Join Date
    Jul 2002
    Location
    Panama
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    With Paypal you are limited to the number of countries. Some have problems and restrictions. See their list.

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