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Transaction - added to the discount rate, a
flat rate on each transaction
Monthly Minimum - what you will be charge
regardless of the level of sales each month
Reserve - some providers require you to
maintain a certain level in the account to
cover chargeback fees.
Chargeback - the killer fee which may cost
you up to US$30 per fraudulent transaction
(which includes any client disputing a
transaction successfully).
New online business?
If you are a new business with an untested
product range, consider using a well
established third party credit card processor
such as Paypal or 2Checkout while you test
the waters, which will incorporate a payment
gateway with a merchant account. Although
their transaction rates are a little high,
neither charge monthly fees. Both Paypal and
2Checkout also incorporate shopping cart
applications and other free tools as part of
the deal.
Rushed decisions in choosing your ecommerce
applications, elements and third party
services will dramatically increase the
likelihood of your business failure. This is
definitely an area where if you spend the
time fully investigating all the options open
to you - you'll reap the rewards after
implementation.
Michael Bloch
Taming the Beast
http://www.tamingthebeast.net
Tutorials, web content, tools and software.
Web Marketing, Internet Development &
Ecommerce Resources
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