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Old 12th January 2005, 11:43 AM   #1
R_L
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Default Merchant Accounts

Itís terrific when a great many visitors come to your site; however, if you have an e-commerce site the goal is for them to buy something. I have found that when marketing anything either on the net or in person, the easier one makes it for the person to buy, the more likely they are to purchase. Since a payment of some sort is an essential ingredient of any sale it seems to me that making a method of payment as easy and painless as possible is extremely important. Credit cards have contributed more to the direct marketing of products in the last 20 years than perhaps any other single issue. My question is therefore directed at merchant accounts and the ability to accept credit cards on the net. It seems that there are many companies offering merchant services like Pay Pal and others; however there have been many stories about these companies holding back payments for days and months sometimes. That is certainly not an efficient way to run a businessóany business. If one has the ability to obtain there own merchant account the money is usually deposited in ones own bank account in 24 hours. I think this would be an interesting topic to explore because there is a great deal of confusion and miss-information surrounding this issue.

In any event anyone could shed some light on this issue it would be welcome.

Best regards
R_L

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Old 12th January 2005, 01:29 PM   #2
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I've used PayPal for years and I personally have never had a problem. One thing I really like about PayPal is their debit card. Works just like a standard MasterCard but with a couple of cool exceptions:

1. When you make a purchase, the transaction immediately appears in your PayPal account.

2. You receive 1.5% cash back immediately when you use the PayPal debit card.

PayPal does take a few days to transfer money to your bank account. But, you can always use your PayPal debit card and withdraw the money at an ATM and deposit the money into your bank account if you are in a rush.

Any merchant account provider (including PayPal) will have problems at some point. Having had both a standard merchant account and PayPal, I much prefer PayPal.

Oh, almost forgot to mention that it's a breeze to download PayPal account information directly into my accounting software. Very handy!

Welcome to the forum R_L!

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Old 13th January 2005, 01:10 PM   #3
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I've been using PayPal, ClickBank and my own merchant account (for a variety or purposes and reasons) for 5 years. I've never had PayPal or ClickBank hold back payments. They are always transferred to my accounts within 3 business days (which, I believe is the legal limit).

My merchant account deposits my funds within the same amount of time... usually 2-3 business days.

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Old 2nd February 2005, 07:24 AM   #4
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The only thing I donít like with paypal is their poor coverage. I guess they work good only in USA and Canada.
Correct me if I am wrong.

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Old 2nd February 2005, 07:31 AM   #5
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Uhh... a few more than that. PayPal is available in 45 countries.

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Old 2nd February 2005, 09:14 AM   #6
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I receive Paypal payments from all over the world and have had no issues with it at all. I actually prefer to receive payment that way for international orders.

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Old 2nd February 2005, 10:45 AM   #7
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I've used paypal on my website for 5 years with zero problems.

If you are looking for a merchant account, though, you might try Costco. For their business customers they offer a very competitve merchant account option. (They also have health insurance and many other business benefits)

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Old 3rd February 2005, 05:07 AM   #8
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I suppose every company that provides money transfers online has its cons and pros. Just look at paypalsucks. However there are many people who like using this company.
I just canít say anything about it since I donít use it due to my geographical location.

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Old 5th February 2005, 08:24 PM   #9
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I've used Authorize.net for my merchant account, and I've been very pleased with them. However, I also loves me some PayPal.

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Old 7th February 2005, 09:20 AM   #10
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Yes, I think that paypal is the most popular payment processor, and if someone is searching for the merchant account, most of people suggest to try paypal

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