eCommerce Tycoon

**flexdesigns** · 08-27-2011, 12:06 AM

ok im dabbling into ecommerce and am currently using magento for a project.

please could i have your help on what you have found to be the simplest and cheapest way to accept card payments, ( without paypal ) so when someone makes a purchase the money is transfered directly into my bank

thanks

**mgraphic** · 08-27-2011, 01:20 AM

You will need to signup for a payment gateway service, like Authorize Net

**chrishirst** · 01:19 PM

And of course you may find that having a merchant account at your bank is far more expensive than paypal unless you are turning over several thousand [pounds/dollars/euros] each month. Depending on your bank of course.

Paypal, Google Checkout and MoneyBooker are relatively cheap when compared to some setup fees and monthly charges for merchant accounts for lower turnover operations.

**luckdealer** · 08-27-2011, 01:14 PM

Hi flexdesigns,

To have the money sent directly to your bank account you are going to need a merchant account, they do ask for set up fees that are not cheap.

You can look for merchants on the net or go to your local bank and ask for merchant services.

Good luck,

LuckDealer

**CreditCardGuy** · 08-29-2011, 04:56 PM

Authorize.net has inherent fees associated with them so be sure to add them to the rates of your traditional merchant account.

Gateway fees
Setup for a gateway can cost as high as $199 but as low as free.
Monthly gateway fees usually range from $15-$20
There's also usually a per transaction markup of around $.05-$.10

There is usually a monthly minimum involved of $25.
There is also usually a statement fee involved of $5-$15

So your starting point for a monetary commitment usually ranges around $30-$40 before you incur any transaction fees. That's why most people wait till they average around at least 20K in annual credit card sales before they commit to a merchant account.

I have a promo code for a free authorize.net license, no set up fee, $10.00 monthly minimum and $5 dollar statement fee. It will still cost you around an extra $15.00 a month to utilize the authorize.net gateway.

Good luckkkkk!

**Digmen1** · 11-24-2011, 05:27 PM

@CreditCardGuy

Gee that was great information, just what I was looking for.
But I am still a bit confused.
You say that you need to be doing 20K in annual credit card sales before commiting to a merchant account (and with those ongoing monhtly fees I see why)

But how can you do Credit Card sales without a merchant account ?
Do you mean just via Paypal ?

**chrishirst** · 11-24-2011, 06:05 PM

Paypal accept credit card payments from some countries without the card holder needing a paypal account.

**flexdesigns** · 11-25-2011, 05:33 AM

dont know if anyone will find this useful but take a look at dwolla.com

**goldsilverads** · 11-28-2011, 04:41 AM

If you don not have any paypal account and credit card then you must use payment gateway.