cheap way to accept credit cards?

Discussion in 'OT Technology' started by mace, Jul 12, 2005.

  1. mace

    mace i don't read

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    I don't want to use paypal. I don't expect many orders, so what would be the best way to accept all the major credit cards online?

    I'm looking for something without a monthly fee preferably. Is 2checkout my best bet?

    does 2checkout offer api so when a customer checks out it doesn't redirect them to 2checkout.com?
     
    Last edited: Jul 12, 2005
  2. kingtoad

    kingtoad OT Supporter

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    Never heard of 2checkout therefore I will probably never use it. Personally, I'd use PayPal IPN and let PayPal deal with accountant information.
     
  3. onedownfiveup

    onedownfiveup Active Member

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    Paypal is the only free one I really know of.
     
  4. Frequency

    Frequency New Member

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  5. mdaniel

    mdaniel S is for Shiksa

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    Any real merchant account is going to have monthly minimums. I have an account through Costco and its a $20 minimum on Visa+Mastercard transactions and they don't charge me a monthly statement fee. That's a lot better deal than most.
     
  6. SLED

    SLED build an idiot proof device and someone else will

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    oooooh, i need to look into that. Who do they do it through? Was there any options for online merchant accounts? I wonder who their processor is. It also surprises me that they accept Visa/MC when they're under contract with Amex for their warehouses. Interesting, i need to look into this.
     
  7. Keyzs

    Keyzs OT Supporter

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    Tell us more? Who, how?
     
  8. mdaniel

    mdaniel S is for Shiksa

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    Costo uses a company called Nova Info Systems to do the credit card processing. There's more information here: http://www.costco.com/Service/FeaturePage.aspx?ProductNo=10166089

    For each Visa/MC transaction you run, you pay a percentage to them, called the discount. That amount counts toward your minimum each month, $20 in this case. If you don't run enough cards to pay them $20 in a month, you make up the difference. The full amount of the transaction gets deposited into your bank account in two days. The total discount for the month along with any fees gets taken out of your account once a month.

    I upgraded my membership to the executive membership for $55/yr. It saves me $60/yr because they waive the $4.95/mo statement fee if you're an executive member. Plus now I get 2% back on all of my Costco purchases.
     

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