Friday, May 27, 2005

And people say we are EXPENSIVE!

I've been doing a little research into the world of on line payment processing for another project we are looking at WOW, is it EXPENSIVE!

One of the frequent complaints I hear is that invoice discounting is too expensive at around 3.5% per month..............keeping in mind that I am waiting all of this time to get paid and not charging the account debtor a cent of interest.

Our little meander through the hodge podge of on line payment solutions has revealed to us the following cost of getting your money for a product you sold on line (i.e. setting up a merchant account):

From Godaddy, a well priced and competitive player in the online world, the discount associated with an online, international merchant account is: 5.45%

From World Pay: about 3.25% and $0.40 per transaction

And from the world reknown Paypal: 3.9% + $0.55 CAD per transaction

So who is expensive now?


Blogger acceptcreditcardsforfree said...

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I have an interesting site related to merchant account. It pretty much covers merchant account related stuff.

Come and check it out for merchant account if you get time :-)

Thanks and Get More Than You Expect With
Bunny S.
Great Site for merchant account

3:16 AM  

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