I want to open one but don’t know which credit card processing service to use. I am confused on how this whole thing works.
I think I will use googlecheckout and allow paypal but do i need another service?
The Phone System We Use
anyone own a yahoo store? which credit card processor do you use?
Reader Feedback
3 Responses to “anyone own a yahoo store? which credit card processor do you use?”
Leave a Reply
Hey wait a minute . . . Don’t do anything just yet! You are making all of this much too hard.
You still have more researching to do. You need to research affiliate programs and cut out this other work. How about this for example . . .
No credit card processing, No dropshipping, No inventory, No large operation cost. Zero cost and zero hassel, just simply sell products, get a commission up to 65% and sell 25,000,000 products–all from one location. Well you are not going to actually sell that many but you will have free access to them.
You also need to learn Internet marketing. This is the #1 reason why so many people fail over the Internet–you are headed in that direction. Its not easy to consistantly sell something over the Internet to make big profits. Most people think they should get a product first then try to sell it. This is absolutely incorrect! I suggest you revamp your thinking and research more.
If you don’t know what I mean, you may contact me or send an email to pbsumpter@yahoo.com.
Take Care!
PS – If you contact me, let me you are seeking a better system.
IF you are going to use a credit card processing company, I suggest you use Novus. In addition to better AND simpler rates, their equipment is a fraction of what most others charge for the same items, and their service is top-rate. Best of all, they are the only processor that lets you accept the Discover card (50 million in use), AND the fees are cheaper for Discover card charges than for any other type of credit card.
I used tham for several years and was always satisfied, and referred a LOT of other merchants with horror stories of other processors, all of whom said that Novus was a big improvement over their previous card processor.
Finding a credit card processing company can be overwhelming due to different pricing structures and every one claiming to have the lowest rate.
The truth is your rate should be determined by your average size ticket and industry. If you have an average tiocket (sale) under $15 you can get a very low transaction fee about $0.15. Your percentage rate will be a little higher about 1.85% for debit and credit cards. That is the best program for you due to the transaction fee having a greater affect on low ticket transactions.
If your average ticket is above $15, you will pay a transaction fee between $0.20 -0.25 and a percentage rate of about 1.80% for credit and 1.40% for check cards.
The next thing you want to look out for is what you pay for key entered transactions and corporate cards. This is very important. Some place will charge a very low percentage for swiped personal check and credit cards, but charge over 4% for rewards and hand keyed cards. BE CAREFUL.
Now you need to know the difference between a pin based debit and a check card. A check card is charged different (see check card rates above) due to how it is processed. If a customer swipes a debit card and signs for it instead of entering their pin #, you will be charged a % and trans. fee. If they enter their pin #, you can get a flat rate of around $0.65 trans fee and no %. It is important to know your business, and decide wether or not your average ticket is high enough for a pin based transaction to be worth it or not. Usually a $40 or higher transaction amount is when you want to use that pin pad.
Now that you are an expert on pricing, LOL, we need to discuss equipment. If you are building this website yourself, there is a great product that you can use with a simple copy and paste solution. They provide you with the ability to accept card by mail or phone and through your website.
If you can copy and paste html code, this is the easiest program I have ever seen. For each Item you sell you type in a description and an amount and click on "get code". You will then be given an html code that you can copy and paste right along side of your product picture. It really is that simple. I have used it myself.
Contracts: Most every credit card processor has a 3 year contract agreement. Very common practice.
You can find out more about rates and other programs here:
http://www.omnitranz.com/freerates…...
I hope this helps! Good Luck