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hakkrdan · 02-07-2006, 10:49 PM

Hi -

I don't know where you guys are getting your information from. Paying $1500 is a deathwish, and I'm sorry to say, you got ripped off.

If you have a large site, I'd suggest not using an existing biller - being large, I mean like 10k transactions/mo. I would suggest doing some research and not getting ripped off for buying a merchant account. Even if you have a small site, implementing your own solution would be way worth-while. Pay less than you do with any biller, and get better rates. With third party billers charging in excess of 10%, why would you even consider them when at MOST you'd be charged 5% with a merchant provider - and that's including if you were bankrupt, had not paid taxes in 10 years, and beat your wife. Well maybe not, but you see where I'm going with this.

I purchased my merchant account and payment gateway solution two years ago. I paid a $299 setup cost, with a $0.15 transaction fee from the merchant account, and a $0.10 fee from the payment gateway. The PG also takes an additional 1.92%. "Internet Web Hosting" is a high-risk category which I fell into with these guys. Even with that being the case, my rates are respectable. This was a special through BofA and CyberSource.

I don't see how it's any more "difficult" to get a merchant account solution in the US than it is in EU. They may ask for tax records indicating that you're not a scumbag - but who are we kidding, we all like porn, right? ;)

Any biller charging a god damned $1500 setup fee is ripping you right the fuck off. I don't know why or how these guys get away with it. They don't establish you with a real merchant account. They create a federated account under their name. Think of it as a subaccount of their real merchant account - that they use.

You know, these billers need to make some coin just as any other business does. This is how it works. But they must understand that the money is in the recurring income, not in the high setup costs which they just pocket. Think of the kind of impression that this makes to any new sites just starting up. They'd be completely intimidated and just drop the whole idea. There needs to be a shift to "high volume, low markup".

My *cough* $0.02, har har har.

Thanks!
-dant

02-07-2006, 10:49 PM
hakkrdan Confirmed User Join Date: Nov 2004 Location: Phoenix, AZ Posts: 223	Hi - I don't know where you guys are getting your information from. Paying $1500 is a deathwish, and I'm sorry to say, you got ripped off. If you have a large site, I'd suggest not using an existing biller - being large, I mean like 10k transactions/mo. I would suggest doing some research and not getting ripped off for buying a merchant account. Even if you have a small site, implementing your own solution would be way worth-while. Pay less than you do with any biller, and get better rates. With third party billers charging in excess of 10%, why would you even consider them when at MOST you'd be charged 5% with a merchant provider - and that's including if you were bankrupt, had not paid taxes in 10 years, and beat your wife. Well maybe not, but you see where I'm going with this. I purchased my merchant account and payment gateway solution two years ago. I paid a $299 setup cost, with a $0.15 transaction fee from the merchant account, and a $0.10 fee from the payment gateway. The PG also takes an additional 1.92%. "Internet Web Hosting" is a high-risk category which I fell into with these guys. Even with that being the case, my rates are respectable. This was a special through BofA and CyberSource. I don't see how it's any more "difficult" to get a merchant account solution in the US than it is in EU. They may ask for tax records indicating that you're not a scumbag - but who are we kidding, we all like porn, right? ;) Any biller charging a god damned $1500 setup fee is ripping you right the fuck off. I don't know why or how these guys get away with it. They don't establish you with a real merchant account. They create a federated account under their name. Think of it as a subaccount of their real merchant account - that they use. You know, these billers need to make some coin just as any other business does. This is how it works. But they must understand that the money is in the recurring income, not in the high setup costs which they just pocket. Think of the kind of impression that this makes to any new sites just starting up. They'd be completely intimidated and just drop the whole idea. There needs to be a shift to "high volume, low markup". My cough $0.02, har har har. Thanks! -dant