Question about Payment Processing Services
Posted: Wed Sep 08, 2004 10:51 pm
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.
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.