Originally posted by: QueBert
dunno what you consider "high fees and precentages" but for low volume they are a great deal. Try to find credit card processing on your own that will give you anywhere near to as good of a deal that Pay Pal does. 2.9% + .30 cents isn't bad. CC processing will probably run you 2.2% minimum and a monthly fee of anywhere from 20 to 50 bucks. If you do large amounts of transactions you can get 1.6% but for that you have to be selling mass amounts of ******.
Also with Merchant Services you generally have to have a credit line approved, that way if people charge back (want refunds) the underwriter doesn't get screwed if you took the 10g's out the bank account already and they are stuck with paying the money back themselves And if you're approved for $5,000 a month and end up selling over your limit you are screwed.
would it be nice if Paypal charged less? sure, but honestly I haven't found anywhere that's better for a small to medium amount of transactions.
You need to learn on how to negotiate with Credit Card Processors. If you agree to their published prices, then they are taking you for a ride. There is ALWAYS room for negotiations.
how does 20c + 0.65% sounds ? what about 15c + 1.55% ? What about 10c + 1.79% ? (and these prices are without any negotiations) and no monthly fees.
The 30c + 2.9% that paypal charges is one of the highest that is not even charged on international rewards cards by credit card processors.
And NO, you dont need an approved credit line. If your customer charges back and you dont have funds in your account, your credit card processor will just deduct the amounts before depositing funds on your next batch. Hope you know that they ask for your Social/Business EIN numbers before they sign you up....
Dont spread rumors if you dont know about them.
<<< not a credit card processor but have merchant accounts (and the rate that I have is much much lower than what I said above)