Friday, March 5, 2010

Accepting Credit Card Payments from your Online Store - Getting Started

You're on your way to bringing customers to your online store, you're helping them feel comfortable buying from you, so now.... you need a way for them to pay you!

You've been accepting Paypal and Google Check-out, but you want to add more professionalism and stop loosing sales from uncompleted check-outs.   Accepting credit card payments directly on your website is a smart thing to do.

One smart option for accepting credit card payments directly on your website is Propay.     You will need to check with your Cart provider to see if Propay is an option.   If not, read ahead anyway, as it may be something you want to suggest, or a reason to choose one Cart/eCommerce Provider over another.   

HighWire Commerce (formally Buy It Sell It eCommerce Solution Provider) offers easy integration to Propay.

Propay is VERY easy to set up and very easy to understand and use, making it a smart choice for those new to accepting credit cards directly on their website.      While you may well out-grow it, its a smart way to get started.  

Propay's website is very easy to use - to refund customers if necessary (full or partial amounts), to transfer funds to your checking account (or paper check if you prefer), and also allows you to very easily process payments manually - such as when taking an order by phone.  
Propay's fees are similiar to Paypal.   You will pay more to use Propay, but the sales not lost during checkout will easily cover the additional costs.

Propay fees differ from Paypal fees in the following ways:
  • Annual fee, approx 55$
  • Transaction fee charged on refunds, as well as purchases. (35 cents each) and, the transaction fee from the initial purchase is not refunded.
  • Transaction fee charged to transfer funds to your checking account (35 cents)

Propay offers the best deal for small volume/ small dollar amount per transaction sellers.   If you expect to process under 3000$ a month (for now!), they are the lowest price option, and an easy way to get what you need.

When you need the ability to regularly process more per month, a Merchant Account will be the way to go.  Stay tuned for info on those.


NOTE:  Propay does have more restrictions than most Merchant Accounts.   These include restrictions on the type of items sold (such as ammunition), and deposit requirements for sellers of expensive and/or items they deem high risk, such as electronics and fine jewelry.      If this applies to you, you may want to apply for an account with them, and see what they ask of you - which could be nothing, could be something you'd fine acceptable, or, might cause you to opt for a merchant account instead. 

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