Which Virtual terminal for taking payments over the phone
Discussion
Soon will need to be able to take payments over the phone from customers and looking at the options.
We are FSB members and their offer with Worldpay stacks up as so:
No set up costs
30 day rolling contract
£7.50 charge per month
£10 minimum spend per month
Debit cards 0.63%
Credit 1.99%
Does this seem reasonable?
We are FSB members and their offer with Worldpay stacks up as so:
No set up costs
30 day rolling contract
£7.50 charge per month
£10 minimum spend per month
Debit cards 0.63%
Credit 1.99%
Does this seem reasonable?
I cancelled my Worldpay Cardsave service and switched to Zinc which give a machine that links to a app as well as virtual terminals for email invoicing and telephone orders.
£59 buy
No monthly fees
but higher %age charges
For the amount I use it, it is the best available. If you look at others, check that they offer a virtual terminal with email and telephone ordering, some dont allow it.
V.
£59 buy
No monthly fees
but higher %age charges
For the amount I use it, it is the best available. If you look at others, check that they offer a virtual terminal with email and telephone ordering, some dont allow it.
V.
The answer to this depends upon how much money you will be taking via debit and credit cards.
If you are looking at relatively low volumes to start with, I think a neatly packaged solution like the one you mention is probably a good idea.
As you get bigger though, you will find your merchant services fees can easily get quite large. You may also want more flexibility with regard to integrating with your website, taking other currencies, settlement dates etc.
I found personally that the % rates quoted for credit cards can be a bit misleading, as a big proportion of the fees comes in interchange costs which are not often mentioned when choosing a merchant account.
Bearing in mind, interchange fees have been regulated by the EU to reduce substantially at the end of this year, so you really want to make sure these savings will be passed onto you.
I have switched our business over to "interchange plus" pricing with our merchant account, which gives a much better transparency on costs, and ensures that reducing interchange fees are automatically passed onto us.
In terms of accepting payments over the telephone, I personally like SagePay as a 'Payment Service Provider' but if you go this route you would also need to setup your own merchant account.
If you are looking at relatively low volumes to start with, I think a neatly packaged solution like the one you mention is probably a good idea.
As you get bigger though, you will find your merchant services fees can easily get quite large. You may also want more flexibility with regard to integrating with your website, taking other currencies, settlement dates etc.
I found personally that the % rates quoted for credit cards can be a bit misleading, as a big proportion of the fees comes in interchange costs which are not often mentioned when choosing a merchant account.
Bearing in mind, interchange fees have been regulated by the EU to reduce substantially at the end of this year, so you really want to make sure these savings will be passed onto you.
I have switched our business over to "interchange plus" pricing with our merchant account, which gives a much better transparency on costs, and ensures that reducing interchange fees are automatically passed onto us.
In terms of accepting payments over the telephone, I personally like SagePay as a 'Payment Service Provider' but if you go this route you would also need to setup your own merchant account.
I use Worldpay.
It's been pretty good to be honest. A few bug bears, it's in my own name not the Ltd company which isn't really right but they won't change it. I have to close the account and start again, and of course they didn't really guarantee that I'd be on the same "deal" as I'm on already.
Which brings me onto "deals"...... I have another Worldpay account for another business and it's completely different. Monthly charges on one, not on the other etc.. they seem to make it up for each one.
I've recently signed up to Stripe but haven't used it yet.
To be honest I'd recommend Stripe as it's so easy to sign up and get working, they keep the money for 7 days though and I have heard of some stories of money being taken back with no explanation, but then you only seem to hear bad stuff on the internet so I'm not sure whether to believe it or not!
It's been pretty good to be honest. A few bug bears, it's in my own name not the Ltd company which isn't really right but they won't change it. I have to close the account and start again, and of course they didn't really guarantee that I'd be on the same "deal" as I'm on already.
Which brings me onto "deals"...... I have another Worldpay account for another business and it's completely different. Monthly charges on one, not on the other etc.. they seem to make it up for each one.
I've recently signed up to Stripe but haven't used it yet.
To be honest I'd recommend Stripe as it's so easy to sign up and get working, they keep the money for 7 days though and I have heard of some stories of money being taken back with no explanation, but then you only seem to hear bad stuff on the internet so I'm not sure whether to believe it or not!
MrSparks said:
I use Worldpay.
I've recently signed up to Stripe but haven't used it yet.
To be honest I'd recommend Stripe as it's so easy to sign up and get working, they keep the money for 7 days though and I have heard of some stories of money being taken back with no explanation, but then you only seem to hear bad stuff on the internet so I'm not sure whether to believe it or not!
We've been using Stripe since May this year and very happy with it. Easy to set up and use (we use the app in Kashflow).I've recently signed up to Stripe but haven't used it yet.
To be honest I'd recommend Stripe as it's so easy to sign up and get working, they keep the money for 7 days though and I have heard of some stories of money being taken back with no explanation, but then you only seem to hear bad stuff on the internet so I'm not sure whether to believe it or not!
1.9%+20p per transaction
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