Alex P Posted April 8, 2003 Share Posted April 8, 2003 Following the success of the latest contribution of the payment module "Worldpay MS1" by Graeme Simms, and to others, found at http://www.oscommerce.com/community/contri...ions,882/page,6 I have just visited WorldPay, and I found that I need to pay ?85 UK for setting up an account plus an annual fee of ?160. I also need to pay a 4.5% for every transaction by credit card and 0.50p for every transaction by debit card. Isn't it a bit expensive for someone who just wants to make a start?? Thank you. Alex Link to comment Share on other sites More sharing options...
Ian-San Posted April 8, 2003 Share Posted April 8, 2003 I am glad you managed to install the lastest version of the WP module! No comment on WP value for money. Really, its your choice. The relatively unique thing about WP is that they provide you with a merchant bank account as well as a payment facility. I am sure it is all just software, but if you use other services they require you to first have a merchant account - and you cannot get one of those unless you can show x years of trading, business plan etc etc. Of course you have to pay for this bit as well. You could just use one of the supplied modules, like PayPal, especially if you think your volume will be low. But these services charge you more commission and also charge more to transfer the money to a normal UK bank account. And if your customers are like me, I will not use PayPal for large sums of money as it doesnt give you musch support - for example, the customer doesnt have the ability to get their money back if you do not eventually get the goods. Ian-san Flawlessnet Link to comment Share on other sites More sharing options...
radders Posted April 8, 2003 Share Posted April 8, 2003 Paypal works out at around 4.5% too based on my experience. It just doesn't have the set-up & annual fee. Link to comment Share on other sites More sharing options...
wizardsandwars Posted April 8, 2003 Share Posted April 8, 2003 C'mon, Patrick! They're slamming PayPal 10 times worse than I ever did. Actually, even with the recent rate increases, PayPal is still the cheapest solution around. And customers do have the ability to reverse a transaction and get their money back. And in fact, because of PayPals user agreement, it is actually easier for a customer to get thier money back through paypal than it is to get their money back through a businesses merchant account/gateway. And PayPal doens't charge for a feature call "BilPay", which actually allows you to pay your business cradit card with your paypal account, which is essentially the same as transfering to your bank. Don't get me wrong, I'm not a big fan of PayPals by any means, but their not that bad..........yet. Also, I don't know about other countries, but in the US, you don't have to have been open for any number of days before you can have a merchant account, and you odn't have to show a business plan. All you need is a federal EIP and a state resellers license. Interesting fact: PayPal is cheaper if you are going to process under around $1000 per month. A merchant account is cheaper if you process more than that. Advice: I wouldn't rely solely on PayPal to process Credit Cards. The vast majority of customers will balk at having to create a PayPal account, or they have heard bad things about PayPal. Offer PayPal only as a perk for current paypal customers. I wouldn't expect to ------------------------------------------------------------------------------------------------------------------------- NOTE: As of Oct 2006, I'm not as active in this forum as I used to be, but I still work with osC quite a bit. If you have a question about any of my posts here, your best bet is to contact me though either Email or PM in my profile, and I'll be happy to help. Link to comment Share on other sites More sharing options...
Ian-San Posted April 8, 2003 Share Posted April 8, 2003 And customers do have the ability to reverse a transaction and get their money back. I would be interested to know how you do that as I have a personal transaction on PayPal for a product that was never delivered. PayPal help guide states: You may only cancel a payment if the Status of the payment is Unclaimed and the recipient has not yet signed up for PayPal and collected the money. which means that you can never really get the money back. All attempts to contact PayPal result in no response. On the other hand, WP give you a very clear path to getting your cash back. I am not a big fan of WP, it is just that I am less a fan of PayPal. The other issue is that PayPal is clearly US orientated whereas WP is UK (Bank of Scotland / Nat West) orientated so it does depend a bit on where you trade. Ian-san Flawlessnet Link to comment Share on other sites More sharing options...
Ian-San Posted April 8, 2003 Share Posted April 8, 2003 Two more gems from PayPal: On the email receipt from PayPal it states: Please do not reply to this e-mail. Mail sent to this address cannot be answered. For assistance, log in to your PayPal account and choose the "Help" link in the footer of any page. and in the help pages, you get: As an International PayPal member, am I covered by the PayPal Buyer and Seller Policies? No. At this time, PayPal is developing a verification system for our International Account members to extend to them the same Buyer and Seller Policies we offer to our U.S. users. Until we have an effective tool to verify our International sellers, PayPal will not be offering Buyer and Seller protection to our International members. Buyer beware I think. Ian-san Flawlessnet Link to comment Share on other sites More sharing options...
wizardsandwars Posted April 8, 2003 Share Posted April 8, 2003 Yeah, I have no experience with international payment processing solutions, so I couldn't offer advice in that area. re: Getting you money back. this from paypal. "PayPal's Buyer Complaint Process helps protect PayPal members when a merchant does not deliver goods as promised. If you have been unable to resolve a dispute with a seller, you may file a Buyer Complaint Form (go to the Security Center link in the footer of any PayPal page) to initiate an investigation. PayPal will investigate your complaint and attempt to recover any funds you are owed. You will be entitled to the return of any funds PayPal is able to collect on your behalf. However, fund recovery is not guaranteed." ------------------------------------------------------------------------------------------------------------------------- NOTE: As of Oct 2006, I'm not as active in this forum as I used to be, but I still work with osC quite a bit. If you have a question about any of my posts here, your best bet is to contact me though either Email or PM in my profile, and I'll be happy to help. Link to comment Share on other sites More sharing options...
wizardsandwars Posted April 8, 2003 Share Posted April 8, 2003 Also: PayPal will investigate your claim, contact the seller and, if the seller does not present appropriate proof of shipment, a full refund or other evidence of a satisfactory resolution, PayPal will seek to collect the amount you paid from the seller. PayPal may also limit the seller's access to his or her PayPal account. You will be entitled to the return of any and all funds PayPal is able to collect from the seller for funds received by PayPal prior to the seller's account status having been changed to limited access. ------------------------------------------------------------------------------------------------------------------------- NOTE: As of Oct 2006, I'm not as active in this forum as I used to be, but I still work with osC quite a bit. If you have a question about any of my posts here, your best bet is to contact me though either Email or PM in my profile, and I'll be happy to help. Link to comment Share on other sites More sharing options...
Ian-San Posted April 8, 2003 Share Posted April 8, 2003 Chris Many thanks for that - I never found that form when I looked :oops: We have gone a bit off-topic but I think it helps to answer the original question. WP is expensive but you get what you pay for. Are customers more likely to buy if you use WP? I have no idea so I personally use both WP and PayPal (plus COD in Japan) to give people the choice. So far, my sales are 75% COD, 20% WP and 5% for PayPal so probably I should junk both WP and PayPal! Ian-san Flawlessnet Link to comment Share on other sites More sharing options...
Guest Posted April 10, 2003 Share Posted April 10, 2003 Costs for world pay 1st year ?260 inc. vat. covers annual fee and set up, for an extra ?50 plus vat setup you can have a virtual web based terminal for manually processing cards. fees are around 4.5% for Visa etc. and about 35p for debit cards. Only downside is depending on your products you could have a 4 week settlement period between the transaction and you recieving te money in your bank account. If howver you are selling computer products they may force you into a 6 or 8 week settlement period. just what i know... cheers barry Link to comment Share on other sites More sharing options...
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