Many
businesses start off on the high-street or as mail order
companies, and to accept credit and debit cards they
must have a merchant facility with a bank (this is what
we call being bank acquired). When the time comes that
you want to accept cards online you
must either have an online merchant account set-up,
or connect your current merchant facility with us. We
then simply provide the payment gateway...
Standard features
- Accept major credit and debit
cards
- Multiple currencies
- Secure processing
- Shopping cart integration
- Management and reporting systems
- Mail and telephone order payments
- Repeat billing
- Fraud screening
- Add PayPal as an extra payment
method
How it works
Every time someone makes an online purchase you are
charged a standard transaction fee (from your bank
where you have the merchant account) and an online
transaction fee (from us). The two are bolted together
to make the total amount charged.
For example you may have agreed an off-line fee with
your bank of 1.5% per transaction. We then charge
28p per transaction, or a percentage charge based
on volumes processed, after the first 350 transactions
per month which are FREE
Settlement Period
This is the same as your current arrangement. For
our normal merchant accounts we would have a settlement
period of either 5 days with a 5% rolling reserve,
or 28 days with no reserve. However because your bank
is taking all the risk, the settlement period is the
same as your current arrangement.
What else should I know
You may need to contact your bank to ask them to
switch on the ability to allow online payments. This
should not cost anything extra and should be easy
enough. However knowing banks, you may want to check
with them first!
When you were set-up with your bank to accept credit
and debit cards you would have been supplied with
a merchant ID number. When you apply with us you will
need to supply you merchant number during the application.
This can be done with any bank. However your business
of incorporation and bank account must be in the same
country. This is due to strict money laundering rules.
Pricing and costs
For full pricing and costs please
click here. Remember that these are on top of
what your bank charges you.
If you are not bank acquired
and require one of our full merchant accounts then please
click here |
