Merchant Account Table (Full Version)

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smcfarland -> Merchant Account Table (3/21/2003 11:25:53)

I am STILL trying to get a new merchant account after the hell that is Verisign. This seems to be a FAQ, so I thought I would post the table I did (from excel) on my site and let you all take a gander.

I was calculating costs, fees, etc. for my average month of $5,000 in sales, with an average ticket of $68.40, giving me 73 transactions. Of course, you can certainly change that to update to see which one is better for you.

I added the spreadsheet to the page. Click on " GET THE Excel Spreadsheet Here and then hit CANCEL when prompted for user/pass. You ONLY NEED to change the info in yellow.



abbeyvet -> RE: Merchant Account Table (3/22/2003 19:19:24)

Thanks Summer - that is one of the most useful things I have looked at in ages.



LB -> RE: Merchant Account Table (3/23/2003 0:05:53)

Thank you! That is very, very helpful. [:)]



Shirley -> RE: Merchant Account Table (3/23/2003 15:12:53)

VERY useful. Thanks alot for sharing that.



moose -> RE: Merchant Account Table (3/23/2003 18:55:04)

Summer,

An interesting read, and not just from the point of when one might be setting up online merchant services for a client. We are looking at making it easier for our clients to pay us for our web design services (currently we only take cheque or direct deposit to our bank accounts). Thanks heaps for the info.



smcfarland -> RE: Merchant Account Table (3/23/2003 19:19:36)

Thanks :) Glad someone could benefit from my anal retentive collection of data into spreadsheets. [:p]

I could add more... I was just going with the ones with the easiest (credit) requirements.



JointComms -> RE: Merchant Account Table (3/27/2003 17:36:16)

I have what might be a dumb question but what the heck - if I was to, say, get an account with 2checkout could I use that account on more than 1 website? Does that make sense.

Thanks



smcfarland -> RE: Merchant Account Table (3/27/2003 17:40:14)

Make sure that you have explicit notes stating what will be on their bill to prevent chargebacks. I have it printed on recipets and within the shopping cart.



xeerex -> RE: Merchant Account Table (3/27/2003 19:56:07)

One way to help with multiple stores through 1 checkout account is the incorporate a graphic in your header and footer that has logos for each of the stores. I am in the process of designing mine to that right now. That will help eliminate some confusion.

Also, if your client receives a confirmation email, do as Summer suggested and include an explicit explanation.




mikewa -> RE: Merchant Account Table (4/9/2003 14:23:18)

This is a great tool! I am in the process of setting up my first e-commerce site, and I' ve been looking at several options. Not only will this spreadsheet help me compare costs, but it made me aware of companies I have not yet looked at.

Just curious, what is the problem with VeriSign? I talked with them, and they seem to offer a good plan at a fair price. I talked with them specifically about the PayFlow Link.

Also, I didn' t notice authorize.net listed here. How do they compare?

Thanks,
Mike



smcfarland -> RE: Merchant Account Table (4/9/2003 14:48:01)

Authorize.net is great -- DON' T accept less than free setup and 2.49% if you have good credit. If they want your business, they will waive the pathetic $200 standard charge.

As for Verisign, there is a small (in the grand scheme) group but several merchants -- me being one of them. I had an account w/cybercash and migrated to Verisign. After little transaction for months, last September, someone hacked into my account and proccessor. They attempted to charge cards to the excess of $120,000, but Verisign stopped them after a week, so they only charged $20,867. The people at verisign were helpful after about a weeks' worth of phone calls (on hold for hours).

Here I sit with over $20,000 in chargebacks (the people intercepted funds, so they never deposited to my account, but the bank charged me for them) and no way to make money... and no one really cares to help.

Using 2checkout for now and hopefulyy getting the $$ for bankruptcy.



abbeyvet -> RE: Merchant Account Table (4/9/2003 16:05:54)

I know nothing much about VeriSign for taking payments, but if the service on that end of the business is anything like the service on their domain registration side then I would avoid them like the plague.



Doug G -> RE: Merchant Account Table (4/10/2003 0:16:59)

Thank you for posting the spreadsheet Summer.

And I second Katherine' s advice, even while I hope they can help you get your accounts straightened out satisfactorily.




adambrooks -> RE: Merchant Account Table (4/28/2003 11:59:07)

these links give me a 404 error. could you repost them or email them to me?



Gil -> RE: Merchant Account Table (5/2/2003 16:19:50)

Summer, I' m a little confused - you say a spreadsheet for merchant accounts, but I see Authorize.net listed? Are the others for merchant accounts?



smcfarland -> RE: Merchant Account Table (5/2/2003 16:48:56)

I actually started this for myself, to map out options for me after the fraud, because now no one will except me. I also wanted something with rates for others to expect, and fees to look for... but you can add anything in there to compare...

What were you looking for exactly? Just a merchant account with no gateway?



Gil -> RE: Merchant Account Table (5/2/2003 16:52:28)

Not really - I just saw someone (in another thread) point this thread out as a source for merchant account fees. I think a lot of inexperienced developers might think Authorize.net is or sells merchant accounts.

Maybe a header on the spredsheet saying whish are merchant accounts and which are gateways would help?



smcfarland -> RE: Merchant Account Table (5/2/2003 17:00:47)

I have yet to find someone with Authorizenet that will not set up a merchant account with a good deal attached to it; several waive any and all setup fees (as they should -- $200 is a crime!).

Should I try to change the verbiage up there??



Gil -> RE: Merchant Account Table (5/2/2003 17:12:59)

Up to you - I don' t see any reason to list the Authorize.net fees seperate, since, like you say, most people bundle it.

BTW, we have a package for a merchant account & Authorize.net for our hosting customers:

    Visa, MC & Discover
  • Set up NA
  • Statement Fee $6.00
  • Per Transaction Fee $ .30
  • Discount 2.29%
  • Annual Fee NA
  • Gateway Fee (monthly) $20.00



    Echecks
  • Setup NA
  • Rate 1.95%
  • Monthly Fee $10.00
  • Per Transaction $ .30





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