topic Re: Credit Card with Merchant Account in Selling

Credit Card with Merchant Account

patsydoolan — Fri, 28 Aug 2015 00:30:26 GMT

Hi all

I am contemplating setting up a Merchant Account to process Credit Cards through. Does anyone know whether this could be used for multiple accounts?

Thank you for your help : )

Re: Credit Card with Merchant Account

harley_babes_hoard — Fri, 28 Aug 2015 00:42:45 GMT

you might want to really go into the fees associated with a merchant account. You not only pay a monthly fee you also pay a percentage per transaction in most cases.

Edit: are you talking about a merchant facilty through your bank?

Re: Credit Card with Merchant Account

patsydoolan — Fri, 28 Aug 2015 01:23:40 GMT

Yes a merchant facility through the bank. Ebay have said that will no longer support Propay, Skrill and Paymate. Am wondering whether this is against ACCC. I am not a fan of Paypal.

Re: Credit Card with Merchant Account

man_cave_mayhem — Fri, 28 Aug 2015 01:37:32 GMT

I have just rec'd an email saying that Paymate is off the table from 27th. September. Have called eBay and told them that I dont use Paypal anymore. so really I am finished selling on eBay. Anyone else in the same boat ?

Re: Credit Card with Merchant Account

patsydoolan — Fri, 28 Aug 2015 01:49:08 GMT

I have sent an email to Paymate about this (clientservices@paymate.com). They are in discussions with ebay atm and say that it is against the ACCC ruling. Perhaps if you send Paymate an email also, they will keep you in the loop.

Re: Credit Card with Merchant Account

man_cave_mayhem — Fri, 28 Aug 2015 03:37:05 GMT

Hi,

Yes I called them. They think this may only apply O/S, not in Australia. They were not told about it by eBay, so it's a surprise to everyone.

Re: Credit Card with Merchant Account

patsydoolan — Fri, 28 Aug 2015 04:25:47 GMT

That sounds promising. Thanks for following up. Fingers crossed : )

Re: Credit Card with Merchant Account

harley_babes_hoard — Fri, 28 Aug 2015 05:24:20 GMT

A lot of buyers will not give you there credit card details that is the beauty of paypal. You could be seriously limiting your buyers. And as I said it's not cheap

Re: Credit Card with Merchant Account

pawsandmanes — Fri, 28 Aug 2015 08:57:07 GMT

This does apply to Australia as well.
May Australian sellers have received the same message.
I would suggest everyone who wants a choice of NOT having to use Paypal, send a message of complaint to the ACCC.
They forced ebay to offer other forms of payment last time, this time they can do it again.

Payment by credit card through the bank into your account, can be a very expensive way to collect money, especially for the smaller seller.

Re: Credit Card with Merchant Account

little.princess.123 — Fri, 28 Aug 2015 10:55:21 GMT

Please see the provided link which says it is only applicable to Paymate USA as suspected http://www.ecommercereport.com.au/paymate-usa-to-stop-processing-ebay-payments-from-july-31st/

Re: Credit Card with Merchant Account

lyndal1838 — Fri, 28 Aug 2015 11:52:05 GMT

This information is from a few years ago but I believe you can have multiple accounts linked to your Credit Facility.

We used to own 3 retail shops and each shop had Merchant Credit Accounts. Two of the shops had separate Accounts but the 3rd smaller shop was owned by the parent shop and was on the same Merchant Facility.

Two locations, same Merchant Facility.

I think you would have to open the Account in your own name and link each other "shop" to the main account. A bit like linking all your ebay IDs to one paypal account if you like.

But it is a very expensive exercise.....you pay to have the account and to rent the machines and you also pay a fee for each card processed....anything from 0.05% up to something like 5%. The smaller your turnover the more you pay % wise.

Re: Credit Card with Merchant Account

patsydoolan — Fri, 28 Aug 2015 21:00:00 GMT

Thank you little.princess123, I like that article : )

Re: Credit Card with Merchant Account

patsydoolan — Fri, 28 Aug 2015 21:00:53 GMT

Thank you for that information lyndal1838 : )

Re: Credit Card with Merchant Account

dylan11235813 — Fri, 28 Aug 2015 23:32:22 GMT

Have a look at eway.com.au . I'm not 100% sure it can be set up through ebay straight up (I might look into it in the next couple of days) but it works great through a website. The basic plan doesn't have any monthly fees.

Re: Credit Card with Merchant Account

clarry100 — Sat, 29 Aug 2015 00:51:50 GMT

Yeah we have looked into eway for our new website and their plans look pretty good.

Problem is you need to have your own merchant bank account set up to link them to and the fees for that can be a bit prohibitive when you are just starting out.

Re: Credit Card with Merchant Account

clarry100 — Sat, 29 Aug 2015 00:52:20 GMT

Has anyone looked into Braintree?

Re: Credit Card with Merchant Account

dylan11235813 — Sat, 29 Aug 2015 01:12:52 GMT

@clarry100 wrote:
Yeah we have looked into eway for our new website and their plans look pretty good.

Problem is you need to have your own merchant bank account set up to link them to and the fees for that can be a bit prohibitive when you are just starting out.

They made me get a business account with the bank (not with the bank they use) which costs $10/month (I needed it anyway). Others have said they didn't need it, but as soon as I told them I didn't have one they stopped the signup. I also had to deposit $500 into it but I could withdraw it straight away.

Re: Credit Card with Merchant Account

dylan11235813 — Sat, 29 Aug 2015 01:27:51 GMT

to intergrate it into a website costs a bit also...If through ebay (if possible) maybe not.

Re: Credit Card with Merchant Account

man_cave_mayhem — Sun, 30 Aug 2015 02:13:15 GMT

Hi all,

Re. Paymate, have just had 2 emails from eBay, Paymate (According to them) is off the table at the end of September. So its Paypal or Merchant Facility. I'm done after 15 years, unless the ACCC get involved, but I think eBay would have thought that through.

Good luck.

Re: Credit Card with Merchant Account

joethenuts — Sun, 30 Aug 2015 02:33:26 GMT

i am sure ebay would get a cut or what ever its up to them who they use on there site or shop in fact there are a lot of shops that have cash only now. prob because of large fees, and now a lot have a minimum spend , in fact some petrol stations add a fee on certain cards. i remember in a shop years ago i was paying 6% no wonder banks only make billions mmmm