Accepting Online Credit Card Payments - The Best Options

23 replies
Hey Warriors,

Can any of you tell me, which is the best tried and trusted and indeed most reliable way to accept online payments for your website? I have been looking at Worldpay but others say that there charges are not the most competitive. What are generally the set up costs before you have evn begun to take the first payment?

Thanks in advance,

Matthew
#accepting #card #credit #online #options #payments
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  • Profile picture of the author Steve B
    It really depends.

    It depends on the features you want, the countries that the processor serves, the level of security you need, and the budget you have for processing financial transactions.

    Also, this is not a "one size fits all" part of your Internet marketing. Some industries, types of products, and payment requirements differ depending on the type of business you have. For example, some processors don't do recurring payments ... so if you have a membership site, that payment processor probably won't fit your type of business needs.

    In addition, there is nothing wrong with having more than one payment processor. Lots of businesses use two, three, or more depending upon their needs and preferences.

    So, given the information you've offered . . . it all depends.

    Steve
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    • Profile picture of the author Socrates39
      Thanks Steve,
      It will be a membership site i.e. recurring payments on an annual basis. I think I could chance Paypal for the moment given that there are so many other options that may require alot of time to evaluate. But I take on-board the 'one size fits all' concept and realize the best option/options must be specifically tailored to many factors.

      Brendan
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  • Profile picture of the author Brent Stangel
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    best tried and trusted and indeed most reliable way to accept online payments for your website?
    Paypal.

    What are generally the set up costs before you have evn begun to take the first payment?
    $0.00

    Brent
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  • Profile picture of the author Mike Anthony
    There is also Stripe which give you a more seamless experience compared to paypal which often takes you away from your site.

    also depends on how your site is setup. do you use a cart and what that cart supports and if you are looking to or already have a merchant account. The win for Stripe and Paypal is theres little to no qualifying or upfront fees.
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    • Profile picture of the author pauloadaoag
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      +1 to Stripe. Have had zero troubles so far and they give you so many tools
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  • Profile picture of the author Chris Brindamour
    Socrates39,

    Depends on what you are selling, where you are selling and how much volume you anticipate selling. Paypal may not be the best in all situations.

    Chris
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  • Profile picture of the author skybridgedomains
    Pay Pal is by far the best and easiest. Pay Pal Here. Although, There are many countries that do not allow Pay pal.

    Skrill UK is good - but takes a bit to get up and running.
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  • Profile picture of the author vishwa
    PayPal would be a great choice for you. Free to sign up and get started. Alternatively, you can go with 2checkout as well. They also offer free sign and account set up.
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  • Profile picture of the author Randall Magwood
    I can recommend the following:

    1) Paypal

    2) 2checkout

    3) Skrill
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  • Profile picture of the author Judey
    There lots of online payment processor out there.

    One of the best I recommend is Paypal.

    If you don't like using paypal then go for STRIPE their features are Superb.
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  • Profile picture of the author Aaron Aguilar
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    Paypal, Stripe, or Google Wallet if you and your customer is in the US
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  • Profile picture of the author Ryan Pasko
    PayPal and Stripe are HIGH COSTS when compared to ACTUAL Credit Card Processing.

    PayPal Standard is available in 203 countries.
    US fees are 2.9% + $0.30 per transaction.
    Micropayments (transactions under $10) are charged at 5% + $0.05 per transaction. (PayPal doesn't give you the best rates for micropayments vs Stripe or other solutions)
    No startup costs or monthly fees.

    I work in Card Processing and Business Funding.

    Get an Actual Credit Card Processor - I recommend Integrity.
    Then Use a Gateway - Maybe Authorize.net - there are a bunch.
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    • Profile picture of the author leadmachine2
      True to that! Fees are really high for payments with the credit cards which in the most cases is far away from profitable. He should check some other options out there.
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  • Profile picture of the author Ivan2b
    PayPal is the best and I will never change it for anything related to the internet business. Eventually you can look to the Payoneer but I will not move any further from those two. Maybe I learned on my mistakes from the past so now I am not pretty sure about the other ways of online payment.
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  • Profile picture of the author zeus136
    We have used Paypal and Stripe for many years and both are excellent and have similar pricing.

    Paypal has the advantage of being accepted in more countries than Stripe.

    We use both, Stripe for credit card payments, and a second Paypal express button at checkout for folks who prefer the convenience of Paypal.
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  • Profile picture of the author JohnVianny
    Use Stripe.

    Also Leadpages in the pro plan has integrated a beautiful cart in its landing page, so you can set directly paying.
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  • Profile picture of the author Ace OfAllMedia
    Figures the first two responses are the most predictable and wrong for most niches and internet marketing answers... PayPal and stripe one is going to end up limiting you, and one is going to approve you and then quickly shut you down for being high risk... Or they might do it they did for me and give you an 8-day heads up before they close it in advance because internet marketing products are considered high risk to them or rather their underwriting Bank...

    The fact that it is easy and fast to set up Paypal and stripe and doesn't cost anything out of pocket, does not mean that either one of them are in the long run a sustainable solution for processing your payments if your business model revolves around intangible products or services of any sort and you are not already a well-established large operation, because as quickly as you can set them up by yourself they will shut you right back down because you are high risk either of those non Solutions are simply setting yourself up for failure unless you don't mind being one of the many serial PayPal account holders in the Forum, who is simply either buy another PayPal account from someone or open one under an assumed name when they get their PayPal account Limited again for the fourth fifth sixth seventh time and their funds held for a hundred eighty days again, or similar circumstance with stripe except they will just refund all of your buyers transactions right back to them without giving you a heads up oftentimes if you are selling a physical product after you've already shipped it to the buyer so they get their money and the product, with no chargebacks whatsoever at this point I might add, if you don't mind reliving those whores over and over again like I read people in this forum and others posting over and over and over again, if that seriously doesn't bother you and is acceptable to you then sure go for it PayPal and stripe would be the s*** for you then... LOL if you want any sort of stability or at least the peace of mind to know that your ability to except money from customers - arguably the most necessary component of doing business, will not be snatched away from you with absolutely no warning justifiable cause or explanation, you're much better off going with a solid reputable Merchant processor not third-party payment provider (which is what both stripe and PayPal are) even if it cost you 5 or $10 extra a month not only is the Peace of mind well worth it but the potential losses from dealing with those companies and their careless disregard 4 their clients (your) ability to thrive could and would likely be astronomically greater...

    Worldpay is looking pretty good now huh?
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    • Profile picture of the author Socrates39
      Hi,
      I detect you had a bad experience with both Paypal and Stripe? No harm in that. Good to put your experiences out-there to the masses. I certainly don't want to go into a situation blind without looking at the not-so-good aspects in advance. My website will not be selling a tangible product per se. Instead I will be selling yearly subscriptions to construction companies as a means of giving them the opportunity to sell their business and get tender opportunities. Its not a statitc listing but will be an interactive podium. How does such a product and subsequent payment structure fair out with Paypal and Stripe? Matthew
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  • Profile picture of the author spearce000
    Start out with PayPal as you can start taking payments (pretty much) right away. Later, when you have some statistics and enough sales coming through on a regular basis, talk to your bank about opening a merchant account.
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  • Profile picture of the author Elna R Wiley
    Paypal is always the best. Go with them
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  • Profile picture of the author galaxyseo
    So the reason why Paypal, Stripe (and Shopify Payments if your using Shopify - which is run by Stripe) are so easy to set up, is because they charge much higher fees than the industry. This is true for other similar (not as popular), easy to set up merchant systems such as Payoneer, Worldpay, and others. It is fine if your just starting out, and you don't have any merchant processing history. But becareful, as Paypal and Stripe are NOTORIOUS for freezing accounts for undetermined amounts of time while they 'review' your account. They will requests all sorts of documentation and in the interim you can do nothing while they are reviewing your account.

    I've had both my Paypal and Stripe accounts frozen for no reason, other than volume. So I was basically penalized for growth. I've since learned my lesson, and have realized not to put all my eggs in 1 basket. So, I spread out my merchant processing between various merchant accounts - yes, you can have as many as you want. I offer Paypal and a Merchant Processing Bank (much better rates), and when I believe I have reached my limit on Paypal (usually about $2500/mo), I switch over to Stripe account for processing. I never withdraw no more than $500 at a time, over a 1 week period from Paypal, because I noticed if I withdraw more, than that's when they start to freeze and delay payments.

    I use Wells Fargo & Chase Paymentech Merchant accounts, both with Authorize.net for any larger campaigns, where I feel that I am going to exceed $150 in Credit Card charges per transaction, and / or $15,000/mo. I have been operating this way for well over 3 years now, with no freezes or holds on any of my accounts.

    What it boils down to is that no bank wants to over extend itself or put cardholders at risk. Especially with so many online frauds taking place. So they err on the side of caution, and unfortunately, we as the merchants pay the price. Whether its from freezing accounts, closing accounts due to it being high-risk, being placed on the MATCH system list, being charged higher fees, or having a reserve account opened up - just in case.

    One thing is for sure, no matter which merchant processing system you decide to use, make sure you get a handle on chargebacks and refunds. Make sure you are in constant contact with your client if there are any delays with their order, shipping, etc. This way they do not file a dispute with their bank, stating non-receipt of merchandise / service / product. The bank will IMMEDIATELY withdraw those funds from your account (regardless if you have available or not), and return to the client. THEN they will ask for proof of shipment, delivery, and/or your side of the story. But the client is priority for all banks. And they should also be for you. If you see that you cannot fulfill an order according to the terms and conditions you set forth, IMMEDIATELY apologize to the client and process that refund. If you do that, the merchant banks will love you long time.

    Here are some banks I use and have also used in the past with great rates, easy acceptance, and excellent service. Try getting anyone from Paypal or Stripe on the phone (if you can find a #). These are actual banks, which have an entire department dedicated to answering any question, comment, or complaint:

    Chase Paymentech - they have gotten a little bit stricter with online processing, especially drop shipping sites. So make sure your site is fully functional with all your return / shipping policies in place. They also require a physical address & phone number be listed on your contact us page of your site. Set up time took a little bit longer, about 5 days. But I have had no issues since, and recently re-negotiated my fees to a much lower rate after no chargebacks and low refunds for the past 2 years.

    Capital Bankcard - Fairly easy to set up, they can also place you if your considered 'high-risk'. You must apply for their normal merchant account. If it gets rejected, then they send you to another bank, which most usually get placed, but the fees are higher. I was processing within 48hrs with this bank, customer service was excellent, and I was assigned a rep, which was also very easy to reach whenever I had questions.

    Merchant Focus - This is the Wells Fargo merchant processor. Set up was super quick. Immediately after I submitted my application, I was already issued a merchant account # and could begin processing via a Pre-Approved account. There was a simple underwriting process, which entailed me sending copy of my ID, a Utility Bill, copy of voided check. And that was it. During underwriting, they held on to my initial funds till I was 100% approved - this took all of 3 days. I had my processed funds by the 4th business day. No issue since. This was opened about a year ago. BONUS: I received a free merchant terminal once approved. Granted, it was refurbished, but nonetheless, a cost I didn't have to incur. Saved me at least $150.

    Here are some other decent merchant banks. I have applied and approved for most, but some charged higher rates than what I was used to so I never really used. But all had stellar customer service.
    https://fattmerchant.com/
    https://dharmamerchantservices.com/ - my wife uses them for her restaurant biz. She's happy.
    https://paylinedata.com/ - great for small businesses / just starting. But once you start processing over $20,000 they freeze your account and begin to charge you higher fees. Which is the reverse of what most banks do.

    Well, hope this helps some. Good luck out there!
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