Comment From the processors point of view... (Score 4) 90
My company is a small company that has been processing credit card for several years now. We have the same certifications as a Cybercash/Verisign but we're much much small and can charge much less.
There are a number (over a dozen) small companies like ours that offer credit card processing and do it better (in many cases) than the big guys. You get better rates and MUCH better customer service will a smaller company.
There are other things you need to watch for that credit card merchant providers don't tell you:
1) Many merchant accounts have a ratio of USA to International credit cards they can accept (example, you must processes 5 US cards for every 1 international card to maintain the lowest rate).
2) There are always hidden fees, make sure you understand them. The common fees including a minimum monthly amount, statement fees, address verification, voice processing, chargeback research, mailing fees, keyed vs non-keyed rates, etc....
3) There are a lot of people that advertise low merchant rates but they are quoting "Merchant is present, you see the card and you have checked the person's ID" rates. The fine print might state that the "MOTO" (mail order-telephone order) rate is a full percent higher (and more in some cases)
4) Make sure your gateway uses some form of encryption. Many gateways out there, including some very popular systems, provide binary files for their API and you have no way of knowing how it works and if it is secure or not.
Plug:
We private label our API seprately and as part of our instant e-commerce builder at http://www.n2plus.com. Lowest rates around. E-mail me directly if you have more questions, I've been processing credit cards on the net for 6 years as a business.
There are a number (over a dozen) small companies like ours that offer credit card processing and do it better (in many cases) than the big guys. You get better rates and MUCH better customer service will a smaller company.
There are other things you need to watch for that credit card merchant providers don't tell you:
1) Many merchant accounts have a ratio of USA to International credit cards they can accept (example, you must processes 5 US cards for every 1 international card to maintain the lowest rate).
2) There are always hidden fees, make sure you understand them. The common fees including a minimum monthly amount, statement fees, address verification, voice processing, chargeback research, mailing fees, keyed vs non-keyed rates, etc....
3) There are a lot of people that advertise low merchant rates but they are quoting "Merchant is present, you see the card and you have checked the person's ID" rates. The fine print might state that the "MOTO" (mail order-telephone order) rate is a full percent higher (and more in some cases)
4) Make sure your gateway uses some form of encryption. Many gateways out there, including some very popular systems, provide binary files for their API and you have no way of knowing how it works and if it is secure or not.
Plug:
We private label our API seprately and as part of our instant e-commerce builder at http://www.n2plus.com. Lowest rates around. E-mail me directly if you have more questions, I've been processing credit cards on the net for 6 years as a business.
