View Poll Results: what is the best way to tranfere money over the web

12. You may not vote on this poll
  • SSL creadit card

    3 25.00%
  • paypal

    5 41.67%

    2 16.67%
  • other

    2 16.67%
Results 1 to 4 of 4

Thread: money matters

  1. #1
    Join Date
    Oct 2002
    London U.K.

    money matters

    What are peoples experiences of using different payment systems.




    Tell me your experiences and your recommendations please

    getting there, exciting, evolving.

  2. #2
    Join Date
    Apr 2002
    SSL Credit card.. Similar to 2checkout, just that you have your own merchant account.

    I'd recommend using a 3rd party processor. Less worries. Oh, don't depend on paypal as your main money "bank". Bad reviews round here..

  3. #3
    Join Date
    Mar 2002
    Melbourne Downunder
    it's a matter of what's available outside of USA

  4. #4
    Join Date
    Oct 2002
    North America
    It varies, actually. They all have their own set of pros and cons. It's more like it's a gradiated process: start out with something like Paypal, move to a 3rd-party CC provider when your business volume justifies the associated costs, and eventually (if you choose) get your own merchant account and use SSL on your own servers.

    Paypal looks kind of unprofessional, and does charge per-transaction fee for business accounts (the only way to accept credit card payments) - and your customers have to join Paypal, which they may not care to do. Then there's the fact that Paypal is not a banking service, and is under investigation in four U.S. states for its legal ability to offer banking-type services like their ATM card/VISA/money market account to residents of those states. However, with no up-front fees, Paypal makes a good alternative for businesses that are just starting out and don't yet have enough business to justify the monthly up-front costs of 3rd-party CC providers.
    * lets you accept credit cards with no upfront fees
    * now allows you to take either USD or pounds
    * heavy client base - eBay users (that deal just got finalised)
    * someone else handles the secure server cert and hardware issues

    * forces your clients to sign up with yet another service
    * minimal customisation for CC accept interface - definitely does not look like your site; can throw some users
    * no chargeback/fraud protection mechanism
    * impossible to get through to a person - support is their FAQs/knowledgebase and email (when you can find the email address)

    I'm not going to go into the horror stories that people have had when dealing with PayPal, as I've not yet had any bad experiences with them (knock on wood). I agree, though: don't use PayPal's banking services, as they are -=not=- a banking company.

    These are all other businesses, so they have to be evaluated individually: will they let you accept multiple currencies? How much do they charge? Do they provide chargeback/fraud protection? They handle all the software/server/hardware issues, freeing you up to pay attention to other aspects of your business. For most CC providers, you don't have to have your own merchant account, which can be a savings. Some have easily customisable transaction interfaces, others don't - it varies. You just get to do a bit of legwork.

    It's all on your own site, so your customers don't ever even have to go to another server. Looks professional, doesn't require that anyone sign up for anything else. However, you have to take care of getting the secure certificate; and depending on your hosting company, you may have to take care of hardware configurations yourself. There's also the need to have a merchant account, which can be too costly if you have low-volume business.

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