Are there any recommendations for merchant accounts for real time processing? I talked to most major Canadian banks and most do not offer real time processing through the internet. They still use 2400 baud modems to call a 1800 number which is not realistic if you have 10 customers online ordering services. It'll take about 45 seconds to dial and get the authorization response. We are currently using Planet Payment (international division of Authorize.net) but they transfer funds into our bank account every 2 weeks plus they hold 10% gross for 6 months. I need a real merchant account (Visa, Mastercard, Amex, Discover) that will deposit funds within 48 hours and do not hold 10%. If need be, we'll place a security deposit to secure the 10% chargeback hold.
Where have you seen that the quicken merchant account was free ? I called them and they said that in order to accept payments via credit card, I would have to signup for an account at www.firepay.com wich has a 299$ setup fee.
Thanks for all your feedback. I'll check them out. I noticed charge.com offers very low rates at 2.35% for internet transactions. I tried to signup with them but they currently do not accept international clients. Anyone dealt with them? Hostcharge.com might be another option with no holds and low chargeback rate but they transfer funds twice monthly. Oh well, more research to be done.