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  1. #26
    Authorize provides the system to handle the payment processing, you still need a financial institution to actually process the money. Authorize has a list of preferred vendors for this, i picked the most recognizable one. you can either open a account with that same provider or have them shift all the money into your own account nightly.

  2. #27
    Join Date
    Apr 2009
    Location
    New Hampshire, USA
    Posts
    65
    Quote Originally Posted by TampaJoey View Post
    I set up both the gateway and merchant account for our company's shopping cart through Authorize.net and CyberSource. CyberSource is Authorize.net parent company and the actual company that handles Authorize.net's merchant account service.

    Our company does between 10K and 25K per month in online transactions and I would NOT recommend CyberSource Merchant Account Services to anyone! In over 5 years of business we have NEVER had a single charge back. Our average sales transaction is approx $1500 and CyberSource constantly freezes our funds for up to 180 days to conduct a "routine audit".

    Obviously, we're in the process of finding another merchant account.

    I have nothing bad to say about Authorize.net Gateway Account. But, stay away from Authorize.net merchant account parent company CyberSource. CyberSource business practices suck. And I choose to use the word suck when referring to CyberSource to make sure the term is indexed properly in Google.

    What's even more ironic is that our company is an approved Authorize.net/CyberSource reseller and now I wouldn't recommend them or resell their services to my worst enemy.
    This is where the offshore route is most helpful. Even for low risk merchants, the rates tend to be slightly higher, but they are un-capped (and without charge backs or high risk, rarely if ever get frozen for audits).
    Left empty, due to lack of content and/or thought.

  3. #28
    Join Date
    Dec 2009
    Location
    Oakville, ON Canada
    Posts
    7

    Smile

    Quote Originally Posted by TampaJoey View Post
    I set up both the gateway and merchant account for our company's shopping cart through Authorize.net and CyberSource. CyberSource is Authorize.net parent company and the actual company that handles Authorize.net's merchant account service.

    Our company does between 10K and 25K per month in online transactions and I would NOT recommend CyberSource Merchant Account Services to anyone! In over 5 years of business we have NEVER had a single charge back. Our average sales transaction is approx $1500 and CyberSource constantly freezes our funds for up to 180 days to conduct a "routine audit".

    Obviously, we're in the process of finding another merchant account.

    I have nothing bad to say about Authorize.net Gateway Account. But, stay away from Authorize.net merchant account parent company CyberSource. CyberSource business practices suck. And I choose to use the word suck when referring to CyberSource to make sure the term is indexed properly in Google.

    What's even more ironic is that our company is an approved Authorize.net/CyberSource reseller and now I wouldn't recommend them or resell their services to my worst enemy.
    Authorize.net provides a great payment gateway. It appears the weak link is your merchant account provider. The larger processors, like First Data, Chase Paymentech... will have this gateway certified on their processing platform. They will provide you a merchant account direct and your Authorize.net will be just fine.

  4. #29

    Unhappy ^^"

    I am migrating my business from the states to Asia and I found that the environment is quite different. In the states we can work either with provider like paypal/ 2co or directly obtain it from the bank and plug in with authorize.net etc.

    However in Asia I found that you have to go through the payment service provider either with their master account or get them to provide you the merchant account through their bank networks (e.g. Globalkash, PaymentAsia…). In a way it is much more complicated but I have no choice due to the tax issue.

    Does anyone got some similar experience like me?

    There are a few providers I am in application with but still waiting for their approval on it.

  5. #30
    Join Date
    Jul 2006
    Location
    Hyderabad
    Posts
    458
    Payment Gateway means a gateway for making the payment, some companies like paypal, google checkout act as a payment gateway in between your website and acquiring bank and VISA, MASTER cards.

    Merchant Accout is an account created for you to transact online using any payment gateway. there will be third party merchant accounts, it means here under a single merchant account multiple websites will do transactions.

  6. #31
    Join Date
    Nov 2003
    Location
    Amidst several dimensions
    Posts
    4,324
    Quote Originally Posted by everity View Post
    You just need one, though a merchant account is good to have if you can afford it because it shows you are more established and builds trust with your customers.
    it also brings a lot of security and privacy issues and considerations. and all of these are serious.

    with a payment gateway, you have little concern.

  7. #32
    Join Date
    Aug 2004
    Location
    Orlando
    Posts
    1,280
    Exactly. Only more established companies tend to have their own merchant account.
    eVerity.com
    Celebrating 9 years of customer service. Domain names, shared/semi-dedicated/dedicated hosting, SSL certificates, merchant accounts, reseller options, and referral program, since July 2000.

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