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I was wondering if anyone has any experience working with payment processors? I heard of one called M2 Worldwide LLC but I can't seem to find the website or other information about them. does anyone have information on this company or others that you worked with?
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I have always worked with PayPal to process credit cards from my customers. It is simple to use, not very expensive and I can issue invoices through them also. I have also set up some of my clients shopping carts through PayPal and they are happy with them. Most other payment processors charge monthly fees that I don't want to have to pay.
There are a lot of processors out there but if I could not find their website I wouldn't want to deal with them. -
Ya I found their website and amd going through M2 now. I thought about using Paypal but it was just I have heard so many stories about them holding people's money for long periods of time. If i was a larger company I could probably handle that but being smaller I can't afford haveing my money held.Comment
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you can try 2co.com (2checkout) with only 1 time $49 set up fee.
or moneybookers.com, but you have to have business registration in order to use the merchant tool.
worldpay ? with money fees.Comment
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Originally posted by helper4 View Post
I have never had my money held up by PayPal and have been dealing with them for about 6 years now. They are prompt to transfer money to a bank account and with their debit card it is available immediately plus they pay me interest on my balances.Comment
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m2wwsolutions .com. I think that's the site that you're looking for.Originally posted by helper4 View Post
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Yes they do on business accounts. However interest rates are so low these days it all seems not to be worth it.Comment
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Originally posted by vlasi47gr View Post
Actually, Paypal stopped paying interest (aka money market) end of July 2011. You must have not received the email.
However, they do pay Cash Back on PayPal debit card purchases which is better than Discovercard's cash back program, mainly because you don't have to accumulate a minimum balance like you do with discover to get your cashback money. Paypal puts it right into your paypal account every month.Comment
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Anyway, I too am looking for a a payment processor without having to get my own merchant account. I cannot justify the monthly costs for my own merchant account just yet. I also believe that Paypal, while popular, also turns many people off as they do have a bad reputation from their past business practices.
The best I have come up with in terms of fees/charges, anonymity (meaning the customer does not know you are using a payment processor and thinks you actually have your own merchant account), and flexibility of transaction types (meaning, you can process through a website, but you can also collect credit card information offline and process the card/transaction via phone or web, so this is great for offline business)...is ProPay.com. In a sense, it works a lot more like a merchant account than any other payment processor (like 2CO or Paypal) that I have ever looked into.
The biggest problem I have with Propay is that they do not offer a recurring billing feature. However, you can sign up with a partner of theirs, customervault.com, which allows you to interface with your propay account and therefore allow recurring billing through your propay account, via your customervault account. Problem here is that CustomerVault charges a monthly fee for their service based on how many customers you store in your customervault account database. It can cost as little as $3/mo. But it is an added cost. Propay charges a relatively small yearly fee, but having to use customervault.com in order to have a recurring billing option adds a monthly fee, so in that respect Propay it's starts looking undesireable for transaction which require recurring billing (monthly, quarterly, or whatever).
PayPal on the other hand does have a recurring billing function.
2CO is not an option as their per transaction fees are extremely high. 5.5% + $0.45 per transaction is ridiculous. I hear that you can reduce it to 4.5% + $0.45 per transaction if you reach a certain volume, but that's even still outrageous. If you are doing enough sales to qualify for that 1% discount, you will most likely find that you are better off getting your own merchant account.
So my questions to you all are...
Regarding Propay...
1. Have any of you used propay? What is your opinion of them and their service?
2. Have any of you used CustomerVault along with Propay in order to offer recurring billing to customers? What is your opinion of their service?
Regarding paypal...
3. For those of you that use Paypal to charge customers for hosting, I understand that paypal allows customers to pay a paypal merchant without actually having to open up their own Paypal account (which is a great feature), but if a customer chooses to pay you via paypal using their credit card without opening a paypal account, can you use the recurring billing feature through paypal or does the customer have to have a paypal account in order for you, the paypal merchant, to be able to utilize paypal recurring billing feature?Comment
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I haven't had a balance in PayPal for quite a while so that must be why I missed the "no interest" feature. No balance = no interest
PayPal does have a subscription feature that will automatically bill at intervals you set. Maybe that will work for you. Again, I have never had a problem with PayPal and it is one of the largest payment processors out there. If they were as bad as some claim, they would have never grown that large. Of course, I believe they were purchased by ebay.Comment
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