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www.practicalecommerce.com/...n-t-Know-About-Payment-Systems - Cached - Annotated View

Joel Liu's personal annotations on this page

joel
Joel bookmarked on 2008-09-06 online payment gateway
  • Fee variance is significant, depending on the vendor you choose. For example, customers who select the Authorize.Net platform can obtain quotes from a number of resellers whose rates vary widely. A savvy shopper can find resellers offering rates significantly below a standard market rate. Other vendors, such as PayPal and Cybersource are pretty consistent in terms of fee structure.

  • While Bodine cited Authorize.Net, Cybersource and VeriSign as the big three in the payment-systems marketplace, vendors such as PayPal and Google have made significant headway into what experts call the alternative payment-solution marketplace. In fact, Google has decided not to charge processing fees through the end of 2007 in order to help its Checkout product reach critical mass.



    Google's Checkout system allows consumers to enter billing information one time in order to make online purchases a one-click process on ecommerce sites that have made themselves Checkout-capable. While Google has seemingly eliminated the need for a merchant account with its solution, Bodine cautions that it's not the same as an all-in-one payment gateway/merchant account solution.



  • Bodine says most merchant frustration stems from not understanding the fees charged by a provider. As for other payment-systems horror stories, he cautions against believing everything you might find on the web. "How many of them are true?" Bodine asked.



    However, if the business owner understands the fee structure, how the system integrates into the website and is comfortable with the provider's business history, customer support capabilities, fraud protection and payment timeliness, it's likely that he or she will have made a wise payment gateway or merchant account provider decision.

This link has been bookmarked by 3 people . It was first bookmarked on 06 Sep 2008, by Joel Liu.

  • 02 Oct 08
    vincent
    Vincent Tsao

    payment

  • 06 Sep 08
    joel
    Joel Liu

    online payment gateway

    • Fee variance is significant, depending on the vendor you choose. For example, customers who select the Authorize.Net platform can obtain quotes from a number of resellers whose rates vary widely. A savvy shopper can find resellers offering rates significantly below a standard market rate. Other vendors, such as PayPal and Cybersource are pretty consistent in terms of fee structure.

    • While Bodine cited Authorize.Net, Cybersource and VeriSign as the big three in the payment-systems marketplace, vendors such as PayPal and Google have made significant headway into what experts call the alternative payment-solution marketplace. In fact, Google has decided not to charge processing fees through the end of 2007 in order to help its Checkout product reach critical mass.



      Google's Checkout system allows consumers to enter billing information one time in order to make online purchases a one-click process on ecommerce sites that have made themselves Checkout-capable. While Google has seemingly eliminated the need for a merchant account with its solution, Bodine cautions that it's not the same as an all-in-one payment gateway/merchant account solution.



    • 1 more annotations...

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