Anyone know a good virtual terminal supplier for SMEs?
We are a small business providing services to large companies. We've been asked on a couple occasions about providing a facility for our customers to be able to pay via credit card. We don't currently offer this facility and I want to explore our options.
Even if we did offer it, I imagine only a handful of our clients would choose to pay this way because often the amounts are large and can be paid in monthly installments. I'm weighing the added costs with the value for our clients. I've already looked at PayPal, Elavon and Sage Pay. So far Sage Pay seems to offer the best rates but I was wondering if you have any suggestions?
Thanks for the help everyone. We tried contacting square but they don't offer phone support and ask you to sign up before providing details! Stripe also don't have phone support but we are communicating via email.
Start with your current bank and ask what solutions they may have to help. Some offer a treasury service including ACH for a flat monthly fee with no transaction fees. Others have transfer options that are similar to ACH and charge a flat transaction fee (e.g. $1 regardless of the amount) with no monthly fees. Another option common through banks include a merchant account that includes a credit card payment service with fees less than some of the providers mentioned in this thread.
I would like to show you how and exactly where I can save you money on your processing fees. No obligations if it can impress you with the services that we offer.
When would be a good time to contact you? I would like to go over a few points with you pertaing to the personalized services that we can create specifically to meet your processing needs.
Do you have Skype? My Skype user name: eli.quest202
Can I send you an application?
1234 Pacific St. Suite E5
Brooklyn, NY 11216
I may have a report to help. At least to help you ask some good questions - Is this the right title? Online Payment Gateway Services
Hope these alternatives work for you
We are using Authorize.net to process credit card charges. It is a gateway. We use Wells Fargo as our merchant card processing firm. It has worked pretty well.
Intuit has a well-respected payment solution, i gather.
I use Stripe, you can accept CC payments from anyone and the rate is around 1.9-2.6% depending where you are. I like it because I don't have many CC transactions per month and theres no monthly cost, you get charged when you use it. The only thing to keep in mind is that Stripe, Paypal etc all have clearing times. Stripe is 7 days, Paypal is more I think, Square I think is faster. Everythign should be on their websites though. Good luck
Have you considered offering ACH electronic funds transfer?
It eliminates or significantly reduces the the transaction fee. For example, a $10,000 credit card transaction fee is typically 2.9% + $0.30 or $290.30. Whereas, services like Chase QuickPay and Dwolla (US only) offer no transaction fee and IntuitPaymentNetwork is $0.50 to the company receiving the payment. Depending on the bank it can take 3-5 business days to receive your money the first time.
Chase's QuickPay is almost instantaneous after they have verified your bank account.
The transfer time is essentially the same as that of PayPal when you transfer your client's payment from your account into your bank.
You should ask your bank if they offer some sort of bank-to-bank (ACH) transfer.
You should survey your clients to find out what their payment policies are. Many large and small companies have specific methods in place for electronic payment.
Try SQUARE. There rates are straight forward and work on any smart phone. Simple to set-up as well.