Category Archives:Payment Gateway
High Risk & Low Risk Merchat Services

Lastest Payment Gateway News

Why a Currency Based on an Internet Joke Should Be Taken Seriously
EGifter is working with GoCoin, a cryptocurrency payment gateway, to allow consumers to pay with the two altcoins. GoCoin allows clients to immediately exchange digital currencies into U.S. dollars to avoid price volatility risk. GoCoin charges 1% per …
Read more on American Banker (subscription)

Canadian websites hit by Heartbleed vulnerability
Heartbleed is a vulnerability in the OpenSSL encryption code that is used by two-thirds of all websites. A popular method of encryption because it is open source and freely available, OpenSSL ensures your private information is securely transferred to …
Read more on ITBusiness.ca

Lastest Payment Gateway News

SC Verdict: Thur, Aug. 2013 –1 Year In Retrospect
Our slogan, “Gateway to Africa” could clearly be interpreted by them to mean, come to “the Lions' Den in Africa” where members of government continuously cherish in the “create, loot and share” ideology and majority of our judges who, by their …
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Clay Telecom Partners with PayU
They can now also access premium & the most effective fraud prevention technology, PayU payment gateway on www.clay.co.in," said Clay Spokesperson. The thought behind this association is to reinforce customers' trust and comfort on the financial …
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Coversure chooses Callstream for PCI compliance

Coversure chooses Callstream for PCI compliance
The details are then forwarded directly and securely to the Coversure credit card payment gateway. Because data is passed securely to the payment gateway and not stored, Vault achieves PCI Level 1 compliance, whilst at the same time satisfying FCA …
Read more on Finextra

Apriva to Preview AprivaPay Plus v3.0 at TRANSACT 14
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Apriva, the leading provider of end-to-end wireless transactions, gateway services, and secure information solutions, announced that it will preview its next-generation AprivaPay™ Plus mobile payment acceptance …
Read more on Business Wire (press release)

All you want to know about gross merchandise value
However, in the case of an e-commerce company with a "market-place" model, profit is equal to revenue minus costs like volume discounts, marketing, payment gateway costs and other expenses. Experts are of the view that given the focus of most …
Read more on Economic Times

Q&A: What is a good payment gateway slash merchant account solution?

Question by Paul: What is a good payment gateway slash merchant account solution?
I am looking for a payment solution for my e-commerce shop. I am interested in a gateway / merchant account combo.

I have heard of Total Merchant Services.

I really need some recommendation.

Thanks!

Best answer:

Answer by mss
Payment gateway is a part of an eCommerce merchant account. A merchant account is the service that enables you to accept card payments. Payment gateway is an online service that merchant account providers use for transferring payment details between the merchant website and the bank processing center. The payment gateway will be integrated directly with your shopping cart. The integration process varies by providers and will be handled by their technical staff. Generally the following documents will be required during a merchant account application process:

1. A merchant application – you will have to complete and sign this form. It includes general information about you and your business.
2. A copy of your organization’s Articles of Incorporation, unless you are a sole proprietor.
3. A copy of a voided check for the account that you will want your money to be deposited into.
4. Business or personal financials. Your tax returns for the last two years may be requested if your business is new.

There are many things you need to know when selecting a payment processing provider. The most important issue is processing costs – you certainly don’t want to be overcharged. The costs are comprised of various fees and charges and I have given you a breakdown below.

1. Discount rate – the amount a merchant is charged by his acquirer for processing the merchant’s transactions. It consists of a percentage fee (e.g. 2.19%) and a fixed, per transaction, fee (e.g. $ 0.25). You should not agree to anything higher than 2.19% + $ 0.25.

2. Authorization fee – another “per-transaction” fee. You should not pay more than $ 0.12.

3. Application and set up fee – one-time fees to apply for and set up your account. You should NOT pay ANY set up or application fees!

4. Monthly maintenance fee – as the name suggests, it is charged monthly to keep your account on file. You should not be paying more than $ 10.

5. Support fee – another monthly charged for customer service. You should NOT pay ANY such fees.

6. Virtual terminal fee – a virtual terminal is the application that you will open in your browser and enter the payment information as you are taking it over the phone or getting it from a form you got in the mail. It should be provided for free.

7. Gateway fee – it should not cost you more than $ 15 per month.

Once your selection is made and all required paperwork is submitted, the set up of your merchant account should take no longer than two business days.

Add your own answer in the comments!

Lastest Payment Gateway News

Cash Payment Gateway Receipt
payment gateway
Image by yaleman
Tonight the cash toll booths on the gateway bridge close forever (apparrently) at 8:30pm – I had to pay cash one last time 🙂

The woman who served me had a big sign saying "Goodbye" which was pretty cool 🙂

topcreditcardprocessors.com Names Flagship Merchant Services as the Best
The independent authority on credit card processors, topcreditcardprocessors.com, has promoted Flagship Merchant Services as the top payment gateway firm for April 2014. Share on Twitter Share on Facebook Share on Google+ Share on LinkedIn Email a …
Read more on PR Web (press release)

Creditcall Becomes First EMV Ready Payment Gateway in the USA
NEW YORK–(BUSINESS WIRE)–Payment gateway provider and EMV migration expert Creditcall has become the first payment gateway to support EMV in the U.S., enabling the company to take a market leading position as the U.S. rapidly moves toward …
Read more on Business Wire (press release)

Emaar MGF partners PayU for online payment facility to buyers

Emaar MGF partners PayU for online payment facility to buyers
Commenting on the development, PayUPayments Pvt Ltd VP & Business Head Vikrant Khorana said: "We are happy to partner with Emaar MGF as their payment gateway provider. Our objective is to provide convenience to their customers. They are now just …
Read more on Economic Times

Outbrain rising stars – interview with Brendon Chase, MRM//McCANN
Phones are our social connector, informer, gaming device, entertainer, dating companion, payment gateway, and they're moving into healthcare fast. We've all talked about the mobile revolution for the past 15 years, but the mobile mind shift is changing …
Read more on The Guardian

Jefferson Hills officials celebrate new public works facility
Site engineers were from Gateway. Construction was by General Industries. Heating, ventilating and air conditioning were by … Payment figures were not available Saturday. Council raised real estate taxes by 1 mill to 5.66 mills this year, the first …
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Ingenico Group's Fully Managed IPhone-based Payment Solution Selected By

Ingenico Group's Fully Managed IPhone-based Payment Solution Selected By
In addition, Ingenico Group will also manage all the European transactions through its central gateway. This fully PCI DSS compliant solution will help Loewe control costs, providing end-to-end security in compliance with international payment …
Read more on RTT News

Apriva Partners with GoCoin to Offer Bitcoin and Altcoin Payments
International payments platform GoCoin has announced a technology partnership with point-of-sales (POS) service provider Apriva. Apriva's Gateway connects payment devices, merchant acquirers and payment processors to deploy and manage wireless …
Read more on CoinDesk

Lastest Payment Gateway News

Discover Looks To Tap The Asian Market
Earlier this month, the company entered an agreement with Bangkok Bank in Thailand, and is also associated with the RuPay payment gateway system that was launched in May 2014 in India. Discover is the third largest credit card company in the U.S. after …
Read more on Trefis

MICROS and Elavon Deliver Secure Payment Technology
Powered by the MICROS Payment Gateway™ and Elavon's Fusebox™ gateway solution, this next generation payment environment is built upon decades of proven PMS and payment processing expertise. Robust scalability offers a great fit for businesses of …
Read more on Newswire Today (press release)

Former Executive Chef at the Pentagon Sets the Stage to Honor Veterans at

Former Executive Chef at the Pentagon Sets the Stage to Honor Veterans at
Oakwood Common offers one and two bedroom senior living apartments located at 16351 Rotunda Drive, within a beautiful 29-acre community that includes exquisite landscaping, nature trails and scenic views along the historic Rouge River Gateway in …
Read more on Marketwired (press release)

How Obamacare Went South In Mississippi
Families are crippled because of health crises that tear their lives apart, and by the burden of debt caused by the inability to pay for the health care that they need," the letter states in part. Demonstrators carried a large check for $ 8.7 billion …
Read more on Jackson Free Press

Los Angeles Metro taps Cubic for TAP upgrade
Cubic will also be providing its PA DSS-certified Cubic Payment Application (CPA), a secure card payment processing gateway, as well as an interface to Metro's bank of choice, Bank of America. The agreement also includes Cubic-supplied upgrades to …
Read more on RailwayAge Magazine

CardinalCommerce and PAY.ON Join Forces to Offer Premium Consumer
A modular payment gateway connects to more than 350 system-relevant payment providers worldwide and offers more than 200 payment methods via a single API. PAY.ON helps payment providers address current market challenges and gives them a …
Read more on GlobeNewswire (press release)

Better Business Bureau cautions attendees as 'Flip This House' star's seminar

Better Business Bureau cautions attendees as 'Flip This House' star's seminar
If you didn't pay cash for the home you will be responsible for the mortgage payment until it sells. If the home you purchase has code violations, you must make those repairs to avoid fines. Beware that many foreclosed homes have unseen damage that …
Read more on The Flint Journal

Coming soon: Feed the meter with the tap of an app
The controversial old plan called for leasing the parking system to the region's port authority and its private partners – including Xerox – for decades in exchange for an $ 85 million upfront payment to use for several economic development projects …
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From Fri, e-pay option for water bills
To facilitate online payments, the state is using SBI's payment gateway. Service charges to avail online payment through debit cards or internet banking will be absorbed by the government, while the service charges to avail online payment through …
Read more on Times of India