How to accept money directly without using third party like PayPal?
Hello, what is involved for me being able to accept money online without having to go through PayPal, Google Merchant, 2CO, etc. I have a new idea for a site but want to bypass their high fees. I know a lot of business sites accept money directly, so I would like to know how to do this. Thanks.
You're referring to a merchant account where you can accept credit / debit card numbers on your website and forward them onto the appropriate processing organisation (e.g. your merchant account provider)?
That depends on your location, though a quick search of the forum for "merchant account" should yield some interesting results for you. You'll want to find one where you can use an API to pass the details of the card to your provider's servers, though you also should be aware of the risks of taking card numbers directly; as well as the whole PCI compliance deal.
You should ask yourself if your volume of sales warrants such a move, as it can often be cheaper to use a 3rd party processor such as PayPal for low to mid volume of sales.
Thanks, yeah I recently found out that a local bank can handle this. I pay about $300 per month in PayPal fees and just wondered if I should expand my business. Especially since I have managed to save so much money on things that I really didn't need, I have gotten addicted to lowering expenses.
ACH payments if you are in the US and Iban payments from clients if you are in Europe. However people are usually very skeptical about paying into bank accounts as there is no recourse should you fail to deliver the product or service.
It is best to just accept the fees as the price of doing business and consider passing those fees along in the form of a slighty higher price or options such as payment via bank (no fee), payment via PP (2%) or whatever.
Last edited by Offshoreprivacy; 07-03-2009 at 04:15 PM.