small business payment systems

[AquaGirl]

Originally Posted by Phillip P

To get your paypal to send you money and even start accepting anything over 2K you will need to add your bank account details to paypal.

So this is a double sided sword... So if someone charges you back after 60 days and no money is in your paypal account... Paypal takes it out of your bank account.

The same way you withdraw the profits.

Paypal has locked my account twice... During a product launch as the amount of money moving into the account looked suspicious.

and once when i accessed my account from overseas. Both times it took me about 4 weeks to get my money and with lack of support i was going crazy.

Paypal is all about your customer and not you... Which is good for your clients as it gives them security.

Almost 99% of the time if a client of yours says you ripped them off or did not deliver a service or item and its under 60 days they will get the money back.

With your merchant account you can argue the point the bank asks for details and proof and all that and they email them back saying we have enough proof to suggest that you did use the service and you did get the item.

When your making good sales its very important to move away from paypal...

wow.. very informative, thanks. i'd love to know how you had so many people visit your site and know about the product launch in order to have a large amount of sudden sales? i could use some tips

back to paypal.. can you explain what is a chargeback? i plan to offer people the chance to refund if the product doesnt fit. also, i will have tracking and signature upon receipt so have proof if someone tries to argue they didnt receive my product.. doesnt paypal check this kind of proof?

it's ok to add bank acct details to paypal for payments. do they add it straight away to my bank account if people pay by cc or do i need to manually transfer from paypal to bank account? i heard it takes about 3 days for payments to reach me..?

i heard their processing system is good, in regards to fake cards etc..

is it possible to maybe start with this as a gateway and if i start getting more online purchases, leave it and change to eway after 3 months?

cheers
Linda

[Phillip P]

Traffic, Buzz, affiliates, advertising with an awesome strategy creates a proper product launch... this is what I am an expert in I do this for others too.

Yes i highly recommend you start with paypal and start applying now for your merchant account from the bank as it will take you a good 3-4 months to get it going. Eway is an easy sign up and plug and play most of the time depend what service you are using.

Sorry no PAYPAL does not care if you have pictures of the person that purchased from you ON facebook showing friends the ITEM and how they RIPPED you off.

You move the money manually over unless you have a paypal pro account (which is like an eway version)

I save over 4K a year not using paypal anymore and thats just in fees.

Its a good start though so go ahead with it

Originally Posted by AquaGirl

wow.. very informative, thanks. i'd love to know how you had so many people visit your site and know about the product launch in order to have a large amount of sudden sales? i could use some tips

back to paypal.. can you explain what is a chargeback? i plan to offer people the chance to refund if the product doesnt fit. also, i will have tracking and signature upon receipt so have proof if someone tries to argue they didnt receive my product.. doesnt paypal check this kind of proof?

it's ok to add bank acct details to paypal for payments. do they add it straight away to my bank account if people pay by cc or do i need to manually transfer from paypal to bank account? i heard it takes about 3 days for payments to reach me..?

i heard their processing system is good, in regards to fake cards etc..

is it possible to maybe start with this as a gateway and if i start getting more online purchases, leave it and change to eway after 3 months?

cheers
Linda

[Khalid Adam]

Great thread. I propose we "stick" it at the top because payment methods are so critical and dynamic in the ICT world that we live in.

Anyone else agree?

[Phillip P]

Originally Posted by Khalid Adam

Great thread. I propose we "stick" it at the top because payment methods are so critical and dynamic in the ICT world that we live in.

Anyone else agree?

Agreed... to know then what i know now....

[AquaGirl]

Months to get a bank merchant facility? i have an offline store too and when i spoke to CBA i recall they wouldnt take long to set this up..

Phillip can you explain why the fees on paypal cost you more than what you are paying now when it comes across as the cheaper option without bank costs and the costs i saw with eway budget plan?

what are the benefits of paypal pro as opposed to regular business paypal? big difference in costs?

since their fraud protection seems quite good, and i will offer refunds, it is hard to see why people will try chargebacks? does this happen a lot? i havent had problems with this in the offline store..

thanks,
Linda

[FS Administrator]

Originally Posted by Khalid Adam

Great thread. I propose we "stick" it at the top because payment methods are so critical and dynamic in the ICT world that we live in.

Great idea That's done.

[Fat Zebra]

Originally Posted by AquaGirl

since their fraud protection seems quite good, and i will offer refunds, it is hard to see why people will try chargebacks? does this happen a lot? i havent had problems with this in the offline store..

thanks,
Linda

Hi Linda,

Chargebacks happen more often than you think and mostly happen in card not present transactions. Unfortunately the bank wil always side with the customer and leave it up to you to prove otherwise.

check out https://www.fatzebra.com.au/help/chargebacks for a breakdown of the process and main reasons.

Originally Posted by Phillip P

Yes i highly recommend you start with paypal and start applying now for your merchant account from the bank as it will take you a good 3-4 months to get it going. Eway is an easy sign up and plug and play most of the time depend what service you are using.

As for Merchant accounts, it can take as long as 3-4 months to get up and running. This can be shortened significantly by following the basics:

- Always talk to your current bank first, but don't be afraid to shop around. Your merchant account and business account dont have to be under the same institution.
- Prepare a business plan. If you're a start up, all banks will ask for this. They will treat every merchant account as a risk and will rate it accordingly.
- If you have an existing business relationship with your bank, get them involved in the process. this will save you a lot of time and could help eliminate the requirement for financials etc.

It's also important to know that banks might require to hold a deposit prior to establishing a merchant facility. This will depend on when payments are processed (Before the goods or service are provided, or after)

As for average set up times, it can take between 2 - 4 weeks. ANZ seem to be very quick at the moment where NAB and CBA seem to take 4 weeks or more.

Hope this helps.

[Brett N/Nerds Computer]

Hi Azeds,

Do you realise that depending on your paypal setup you can use it to process credit cards?

Cheers,

Brett