Announcement

Collapse
No announcement yet.

Lowest Credit card charges

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Lowest Credit card charges

    Who has the lowest rates?

  • #2
    Good morning soly1210! It's a very good idea to shop around for a merchant account that works for you. Rates are important, as well as level of experience with eCommerce, customer service, and the level of integration to your cart.

    Of course, I think we have very competitive rates, and you can call the sales team to learn exactly what this would look like for your business (800-838-9699). They are also listed here with some comparisons based on our research: http://www.3dcartmerchant.com/rates.html.

    Have a good day!

    Mary Clare for Merchant Services

    Comment


    • #3
      I got my merchant account through Costco that partners with Elavon (formerly Novus) with Authorize.net for the gateway (which charges a separate fee). Sometimes your bank will offer very good rates.

      Comment


      • #4
        I may be mistaken but isn't the contract with 3d for three years with an early out penalty...unless something has changed since I looked into it last year?

        Comment


        • #5
          Hi TooBusy! For some merchants, the term is 3 years, but the buy out on that is only $99. There aren't any setup, application, or annual fees however. And we offer free comparisons for people shopping around. We've found that we can always meet or beat a competitor's pricing.

          Comment


          • #6
            Hello Julie,

            Do you support Verified by Visa, MasterCard SecureCode? You wrote that the contract is 3 years for some merchants. What are the alternatives and what determines those contract lengths?
            Luxlife

            Comment


            • #7
              Luxlife,

              Good morning! Great question about MasterCard Secure Code and Verified by Visa. We do support it at the payment gateway level. In order to work, however, it also needs to be supported by your cart, and your customers need to be registered in order to use it. Visa and MasterCard have both been rather disappointed at its adoption rates in the US. Still could be a good option for your customers who use the program.

              To discuss the merchant agreement, rates, term, etc, feel free to call sales! They are good at tailoring solutions. Tell them you talked with me on the forum. 800-838-9699.

              Have a great day!

              Mary Clare for Julie

              Comment


              • #8
                regarding 3D carts CC rates

                If I am to understand you chart correctly, the Qualified Discount Rate and the Reward Rates or Non-Qualified rates are additive, correct (so Qualified 1.99, Rewards cards 3.28 and and Non-Qual rates are 3.81 respectively)?

                What about corporate and international credit cards - what tier are they placed?

                How are Discover and Amex cards handled and at what rates?

                Do the Reward and Non Qualified rates include all the upcharges by V & MC for these type of cards or are there additional per transaction fees for these.

                Sorry to be so inquisitive but the whole cc processing business is like a giant ponzi scheme with many businesses getting their little cut along the way. There are so many nickel and dime type fees that have been added over the years by MC & V that it makes it very difficult to make a real comparison.

                Comment


                • #9
                  Brigade Games,

                  The answers in Red and underneath your questions are brought to you by Ryan on our sales team:


                  If I am to understand you chart correctly, the Qualified Discount Rate and the Reward Rates or Non-Qualified rates are additive, correct (so Qualified 1.99, Rewards cards 3.28 and and Non-Qual rates are 3.81 respectively)?
                  Yes, the rates are additive, however the rewards rate is incorrect on the site. This should be +0.11% or 2.10%

                  What about corporate and international credit cards - what tier are they placed? Non-Qualified

                  How are Discover and Amex cards handled and at what rates? Discover will carry the same rates as Visa and Mastercard. AMEX rates for $5,000+ in AMEX Volume is 3.50%. If your Mail Order or Internet business processes less than $5k in Amex volume annually, you will be charged a $7.95 monthly fee with no transaction fees

                  Do the Reward and Non Qualified rates include all the upcharges by V & MC for these type of cards or are there additional per transaction fees for these. The Qualified, Rewards and Non Qualified costs include charges by VISA, MasterCard, and Discover.

                  Sorry to be so inquisitive but the whole cc processing business is like a giant ponzi scheme with many businesses getting their little cut along the way. There are so many nickel and dime type fees that have been added over the years by MC & V that it makes it very difficult to make a real comparison.

                  (This is Mary Clare again): It is very difficult to interpret rates, where they come from, and who benefits. We can tell you that the way we price merchants is at MC, Visa, Discover cost, plus a very narrow margin as our profit. There are some rates that are pass through rates that you may see on statements that are direct from the card associations. We do not mark these up. If you already are processing, and would like a line by line analysis on what you are paying, we will be happy to help you in that way.

                  Hope this helps a little!

                  Comment


                  • #10
                    We have two sites, one since '05, here about a year and a half.
                    We use Paypal website payments pro for our processor and have been very happy. It integrates on 3d cart very easily and totally invisible as being paypal.

                    $30 a month (both sites for the $30) + $0.30 per transaction + < 3% for MC/Visa/Am express/discover all included.

                    No other fees, minimums or contracts. $30+transaction fees and that's it. The money is in the account as soon as they pay and I have a debit card with the account that we use for everything and get 1.5% back so we're actually only paying < 1.5% for the money we spend on the card and don't transfer to our other bank.

                    You do have to offer Paypal express as a option but other than that no strings.

                    We also print our shipping labels there which to me is worth the $30.
                    Last edited by mondo; 03-23-2011, 05:47 PM.

                    Comment


                    • #11
                      Lowest CC rates - the myth

                      One of my favorite subjects.

                      Every merchant processor will tell you they have the lowest rates. We have used 6 different CC companies in 9 years. I could write a book on this subject alone.

                      Lowest rates needs to be your last question. If I look at our total CC processing expenditures - including PayPal and divide that by gross sales the overall percentage of CC processing fees had a +/- of less than 1/2% between all the CC processors over 9 years ( we've processed more than 50,000 orders on line)

                      First you have to look at the combination of Gateway AND merchant processor. We had a combo for about 3 months with GREAT RATES. Unfortunately their gateway stared double charging for about 96 hours - we ended up over refunding as we were working through the smoke. Fortunately we had no long term contract.

                      We signed with major player and the salesman never got us set up right. We never deployed their gateway because we never got login info BUT we did get $1200 worth of bills for processing in spite of never running a dime through the site. We literally threatened a class action suit before they refunded the $1200 in "fees"

                      We had one local bank - used them for a year - We use a corp. debit card for drop shipping. We got funded in 48 hours BUT it took an addtional 24 hours to fund the debit card (another major player) I'd call every morning for 52 weeks and ask them to manual release my money to me a day early. They were happy to see us go.

                      We're currently are w/ Chase Paymentech (using a Chase commercial checking account) another major player. We're happy but the knucklehead at the branch who wrote the initial order had it set it up as virtual terminal instead of a gateway so when installed it our site we went down for hours until we could get the mystery unraveled. It took the 30 days to straighten that mess out.

                      We're staying with them because we're prolific drop shippers. We pay cash for everything. Our second merchant processor had great rates but it took 3 - 7 days to get funded. Chase batches at 10:45 PM CST - V/MC & Disc get deposited by 5:00Am the following morning. That's worth a 1/4 - 1/2% to me all day long (Amex is in a world of it's own)

                      Moral of the story - there's a lot more questions to be asked than where can I get the cheapest rates
                      Last edited by windycityparrot; 03-29-2011, 05:48 PM. Reason: spelling

                      Comment


                      • #12
                        Originally posted by mondo View Post
                        We have two sites, one since '05, here about a year and a half.
                        We use Paypal website payments pro for our processor and have been very happy. It integrates on 3d cart very easily and totally invisible as being paypal.

                        $30 a month (both sites for the $30) + $0.30 per transaction + < 3% for MC/Visa/Am express/discover all included.

                        No other fees, minimums or contracts. $30+transaction fees and that's it. The money is in the account as soon as they pay and I have a debit card with the account that we use for everything and get 1.5% back so we're actually only paying < 1.5% for the money we spend on the card and don't transfer to our other bank.

                        You do have to offer Paypal express as a option but other than that no strings.

                        We also print our shipping labels there which to me is worth the $30.
                        There is the addon security feature for I think $20.00 a month which imo everyone needs if your going to use them.
                        Jimmy

                        Comment


                        • #13
                          On the Paypal web site payments pro

                          There is the addon security feature for I think $20.00 a month which imo everyone needs if your going to use them
                          .

                          Sorry, that's true now. Ours is grandfathered in from when we started.

                          Comment


                          • #14
                            Originally posted by mondo View Post
                            On the Paypal web site payments pro

                            .

                            Sorry, that's true now. Ours is grandfathered in from when we started.
                            No kidding do you still get the security addon for free?
                            Jimmy

                            Comment

                            Working...
                            X