OT: Accepting Credit Cards

[sterlingcomics]

PayPal charges 2.99%.

 

Does receiving a merchant account to accept CC provide a cheaper alternative? Are there any other advantages/disadvantages with either approach? Recommendations from a certain provider?

 

Comments from those who have 'been there...done that' appreciated.

 

IT'S IMPORTANT TO KNOW THAT I AM REFERRING TO E-TRANSACTIONS, WHICH MAY OR MAY NOT BE EBAY.

 

So, if you say you want to pay via PayPal /CC, you are saying for any online purchase/transaction.

[sterlingcomics]

please...somebody...

[uclapeterg]

You got some answers!

[sterlingcomics]

 

Does anyone have a merchant account to accept credit cards? I've done a little digging--just trying to see if I can bypass the PayPal 2.9% charge. Even a 1% difference will mean a lot based on the price for services I will offer

[sterlingcomics]

Well, I don't know how statistically valid this sample is, but it sounds like PayPal is A-ok for your online financial purchases (eBay and off). I find this interesting considering the number of complaints I hear about PayPal both here and on other sites--most notably the "we can take your money at any time".

 

So, it sounds like the advantages far outweigh the disadvantages, and that those who sell here on the forum either don't have a merchant account or simply choose the convenience of PayPal.

 

Let me know if I'm missing something

[supapimp]

i have 2 paypal accounts, one for taking CC's and the other surcharge free checking account/non CC account. my advice, is to have 2 accounts so you don't get taxed on the merchant account with it's 3% fee.

[sterlingcomics]

Supa,

 

So, if the buyer pays me through a linked banking account (no CC) to my merchant account, I still get charged 3%, whereas if I have another non-merchant PayPal account I am charged nothing?

[supapimp]

yep

[sterlingcomics]

I thought so.

 

Will a merchant account save me $$$

Paging LightHouse, blazingbob....

[LordRahl]

Paypal just instituted a new rule that you can only accept up to $1000 per month for personal accounts(the type that won't accept CCs). Kind of kills that as an option if someone is paying with a Paypal balance and/or checking account.