Question about Payment Processing Services

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myleow
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Question about Payment Processing Services

Post by myleow »

I have questions about Payment Processing Services. Does anyone have any experience with them?

I know the Site Admin Jason has a Payment Processing Service called myvirtualcard.com, Jason if you see this thread please give me some input and recommendation on Payment Processing Services.

The charges would not exceed $1.50 per month but due to the huge saving if you charge yearly instead of monthly. I calculated using 5% transaction charge and +$0.25 per authentication, the variable cost per unit for yearly charges comes out to be 70% less than what monthly payment would sum up to.

Does customers require an account with the Payment Processing Service in order to pay me? Since i am unsure on how it works, a brief explaination would be appreciated along with recommendation.

What about Micropayment Processing Services? I get the feeling that they are the same thing just that Micropayment allows lower payment per units. Most of them require customers to have an account with them, similar to using Paypal although Paypal allows Credit Card processing for a fee.

Have any of you used any of the services out there and could recommend a few for me to look at?

Regards
Mian

P.S. If you have experience starting and maintaining an online business, plesae feel free to give me some advice. Even things that you feel that aren't very important.

[EDIT] $1.50 is the monthly charges for subscription to a service.
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feyd
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Post by feyd »

BattleCorps uses PayByCash and SaberCharge for the payment services. They have been very helpful with us getting everything set up quickly, and working with the programmers.
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m3mn0n
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Post by m3mn0n »

Wow your right on their front page: http://www.paybycash.com/

Even got your own page: http://www.paybycash.com/battlecorps/index.php

heh :wink:
myleow
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Location: California

Post by myleow »

Feyd, what is the website for SaberCharge?

How is PayByCash making money? It can't be totally free for the merchant. How much are they charging merchants? Besides that it sounds pretty good for non-credit card payment. Cut out alot of hassle on non-CC customers.

What about CC Processors?

Regards
Mian
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feyd
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Post by feyd »

I'm sure google can tell you their site. Both have a service charge, which isn't billed to you. Instead it's billed to the customer, directly. CC companies take their own cuts, that comes from the business. The percentage and per purchase charge varies...
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m3mn0n
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Post by m3mn0n »

Wow that's amazing.

I'm going to use that for my CC processing needs.
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