Set Up An eCommerce Site to Receive Online Payments
By Lee Luke Samson
If you are planning on setting up an online store, then you will want to look into a
payment provider that can help you take payments that is both secure, efficient, and safe.
With this type of system in place, you will have more time to focus on your business.
PayPal enables any business to pay and get paid online safely and easily from around
the world. PayPal is an excellent option since all transactions can be done from a computer
with internet access. You can easily and safely accept money from anywhere in the world. To
set up an account, you will need to sign up with PayPal's Payment package. There is no credit
check or application necessary.
There are no monthly fees to pay and you will be able to accept credit cards,
debit cards, and PayPal as forms of payment. Transactions are charged 2.9 percent
which is a little higher than most banks charge but the ease of setup and fact there
are no recurring monthly fees makes it ideal for startup and small businesses.
Since PayPal is a payment gateway, there will be no need to get a SSL (secure
socket layer) certificate to secure your customer data and your transactions will be
secured through data encryption. In addition, PayPal does not require a merchant bank
account nor PCI compliance and can also provide a PayPal debit card so you can easily
access your money. PayPal can also take care of invoices, billing information, and
account support to make things easier.
SagePay is another option that is very popular at present. To sign up with SagePay, you
will need to complete an application, print, sign, and send it in with business and identification
documents. SagePay are the online payment processor so you will also require a merchant account
at your bank to plug into the SagePay account. Once all documentation is submitted and accepted,
you will be able to take credit card, debit card, and commercial cards through SagePay.
You'll be charged a flat monthly fee of just £20 for your transactions so it's very cost effective.
For credit cards and commercial transactions, you will be charged around 2 percent of the charged
price by your merchant account (your bank) and they will normally charge you a small monthly
fee also. You will also need to be PCI compliant and follow the guidelines that are provided.
PCI compliance will cost you an additional £120 per year on average and it is like an MOT for
your website to ensure it is working securely. If you do not meet PCI compliance, your bank
will probably charge you a small extra monthly fee for non-compliance.
WorldPay is a UK based site that enables most of Europe to accept debit, credit card
payments, and many country-specific types of payment. WorldPay also is capable of accepting
more than 120 currencies from around the world. WorldPay accounts can be used to take face-to-face,
mail order, and phone orders. In addition, you can also set up an online business account that
can handle your online e-commerce.
SSL certification is not required with WorldPay since all customer information is held
with the company. You will need to be PCI compliant to use WorldPay and a merchant
bank account is needed to withdraw funds.
The setup fee is £75 and there is a fee of £15 per month. There is a charge of anything
up to 3.35 percent per transaction also. This is slightly more than SagePay but Worldpay
have been an established leader in the online payment processing market for some time
so are the name you can trust.
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