What is the cheapest third party service for online credit card processing?

hamon rye October 25th, 2010 at 09:47

paypal? you don’t need a merchant account. it could be like an escrow. or you’re bank probably.
For A Better Planet October 25th, 2010 at 09:52

I agree, Paypal could be the cheapest because it has no monthly fee, but if you are going to process a lot of volume of orders, Paypal’s 5% transaction fees could eat into your profits.

For volume sales, a low rate fee of around 2% and a monthly fee (of as low as $16) might make more send. I suggest Authorize.net or CDGCommerce’s Quantum Gateway, If you are a Costco member, Cosco has a partner that offers online credit card processing without monthly fees.
Abe October 25th, 2010 at 10:20

There are many companies that will give you a great deal on Authorize.net service. Stay clear of companies that will lock you into any kinds of contracts. This way if there are any surprises you can leave without penalty.
Smilin'_Bob_The_Enzyte®_Guy October 25th, 2010 at 10:53

There are no such things that are legal in the US for private entities.

You cannot accept credit cards without being a merchant, and having a merchant ID.

If that werent the case, then the local druggie on the street corner could set up a way to take credit cards for his dope, and then launder the money as if it were made legitimately…