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Tuesday 06 January, 2009

  Top » Merchant Accounts & Payment Processing by SecureTrading
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Merchant Accounts / Payment Processing
We can provide a complete end-to-end E-Commerce solutions that include the capability to accept credit card payments from customers online.
 
We provide online payment page solutions from SecureTrading
 
SecureTrading Merchant Accounts
SecureTrading provides a gateway to enable the secure processing of credit cards online. You can have either an an existing Internet Merchant Account or we can supply this for you via SecureTrading, these solutions then provide seamless routing of transactions to your Acquiring Bank.
We can either sign you up as part of one of our eCommerce Packages, or you may apply by downloading and completing the application form without taking any other of our services.
Click here for more details about SecureTrading
Credit Card processing solutions.
 
If you wish to discuss either the SecureTrading or alternative online payment services and how we can integrate them with your web site, then please contact us using one of the methods listed at the bottom of the page.
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More about accepting credit cards online:

There are a number of different ways that credit cards can be accepted online – information about the general options is available from http://www.electronic-payments.co.uk/:

  • PSP - Automatic handling of payment transactions online by a Payment Services Provider, (or PSP) – the customer is transferred to a secure web site hosted by the PSP, but customised to the same look and feel as the business’s web site. The transaction takes place and is validated on the spot. The customer receives an acknowledgement and control is returned to the business’s web site with an indication of whether the card was accepted or declined.

    • The most common type of PSP acts as a gateway and passes the completed transaction to an Acquiring Bank that is providing the Internet Merchant Account. Payment to the business then proceeds in the normal way.

    • Certain PSPs can also provide a complete end-to-end service – they provide an Internet Merchant Account and will complete the transaction, settling net funds directly into the business’s bank account on a weekly basis.

  • SSL - Encryption of credit card details online, that are sent to the business by e-mail – the business then validates the payment and enters it via a PDQ machine that is rented from the Acquiring Bank providing the Internet Merchant Account. Payment to the business then proceeds in the normal way.

  • Note that in order to accept credit card details online securely and encrypt them for transmission by e-mail a special type of web space called SSL space is required in addition to the main web site space.

  • Typical costs for a gateway PSP are:

    • setup: £200 + VAT
    • annual fee: £360 + VAT
    • commission on each transaction: 1.6% for credit cards, 25p for debit cards
      plus Acquiring Bank costs as below.

  • Typical costs for an Acquiring Bank to provide an Internet Merchant Account are:

    • setup: from zero to £200 + VAT
    • monthly fee: £30 + VAT, (i.e. £360 per annum)
    • commission on each transaction: 3.2 % for credit cards, 25p for debit cards

  • Typical costs for SSL web space are £80 to £100 per annum + VAT,
    (note that an Acquiring Bank is required in addition for this option).
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