Originally Posted by Starsky
Thanks for the info. There is also a company called Moneris (eselectplus), which I believe is an affiliate of RBC. They are probably a larger company than PSiGate, however I think only ModernBill has a payment gateway for them.
So with PSiGate, do they deposit money to your account right away or is there a waiting period?
I've been with Moneris for about 10-12 years ... but I'm not considered an online business (real world brick & mortar) and they added per transaction fees about 1-2 years ago: discount rate + per transaction fee + monthly access fee = megabucks. We also use IVR.
Payments take up to 3 business days to be deposited ... AmEx used to be 8 business days and recently reduced it to 3 business days.
At this point, it's almost not worth being a brick & mortar business since they take so much from us and we still have to manually process the payments.
We recently received a package in the mail from Global Payments Canada who offer very reasonable rates and a low per transaction fee (9 cents vs 15-30 cents) ... but their letterhead is quite cheezy ... they don't use real letterhead and merely print it through a laser/inkjet printer ... which, to me, looks bad.
I suspect most banks up here in the Great White North have payment gateways ... I remember looking at AmEx a few years ago where it was something like $50/mo ... and discount rate was floating, i.e. it depended on monthly transactions (dollar amount specifically, not quantity I think).