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Thread: gspay

  1. #1
    Join Date
    Aug 2002


    does anyone have experience with them?
    Offshore incorporation and bank accounts
    @offshoreoffer - offshore services, tax optimization info

  2. #2
    Join Date
    Dec 2006

  3. #3
    u4t2t: I signed up with them 3 weeks ago. pretty happy with the integration of the shopping cart and the service. they send you the code and you get the web designer to put it in. real fast set up. Payment cycle has got me concerned though, as i have of yet to receive a payout. But it is schedule for this Thursday. so we will see and i will return and report. I decided to check out gspay on the forum and ask the same question you have. turns out, gspay has been active since around 2006. that's the earliest thread i have seen. Looks to be on the up and up. I used to use merchant processors here in the states but i had alot of problems with them holding up funds everytime they suspected evil doings. I sell gps fishfinders on the internet. i have alot of international customers, which makes the banks here very nervous. The banks have destroyed the economy in the USA and they are more nervous than ever. To cover the risk they jacked the rates on me so it was cheaper and less hassle to go with GSPAY. so i will let you guys know the good, the bad, and the ugly.

  4. #4
    Join Date
    Oct 2006
    It is pretty bad with the banking system in USA. I have worked with gspay for 2 times, two years ago and a year ago, will not say it is satisfactory, but let me know if you received first payment.

  5. #5
    albert: I did receive the money, yesterday on the day that they said they would. The only problem right now is the transaction limit. Their max limit is $1500.00, which is allright. some of the fishfinders and radars are more than that. so for the customer to buy something more expensive, GSPAY recommends they use wire transfer. People wire to me all the time and i discount them for the inconvenience. it seems odd that they can't increase the limit to $5k and that should cover most of everything else. It looks to me like they are missing out on a bunch of money they could have.
    there is an addtional problem with the shopping cart as it will not accept payments over $999.99. they have sent us the new code, but the web guys can't make it work.
    for the most part i am satisfied. hope they can continue to do the job.

  6. #6
    Join Date
    Nov 2005
    The maximum per transaction amount is mostly set by their acquiring bank and 5k per transaction also means a higher risk.
    1.5 k is maximum per transaction amount with most 3rd party processors.

  7. #7
    Join Date
    Mar 2008
    So for those that have used GSpay and were NOT selling pharmacy or adult products, how it work out? What is their settlement cycle..once per week, with 6 mo rolling 10%?

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