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Friday, June 25, 2010

Merchant Accounts

I have done research into getting a merchant account to enable online payment processing. I currently use PayPal [pay on their site] for all forms of online payment-- and carry around a book of receipt vouchers for those who wish to pay with cash or check. I offer services like web hosting, business directory listings, custom software and web development.

I researched setting up the merchant account with my business bank, Costco and PayPal. Here is what I found:

Business BankCostcoPayPal
Monthly Fee$5.00$5.00$19.95-59.95
Per Transaction Fee3%+$.301.99%+$.271.9% - 2.9% + $0.30
Special ConsiderationsNoneSetup & monthly fees waived with Executive Membership $100 per yearMost cases free setup except Payflow Gateway

Links providing more information about Costco's service and PayPal's [note: you have to be logged into your PayPal account to review the link provided].

Snapshot offering a bit more information about PayPal's integrated online payment services.

I want to integrate onsite payment features for Hosting-Q and the WiredPages Business Directory-- rather than using PayPal buttons, however right now, I cannot justify the fees.

Business Directory

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