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Finding a reputable credit card merchant.
I have a friend that is opening up an online jewelry business and needs to find a reputable credit card merchant. She is funding her entire operation herself, and has little room to waste money on a service that isn't good. What companies would you recommend she look into? PCI DSS compliance is a must, and she would like the merchant to integrate with her website (currently a Joomla platform). What credit card merchant do you recommend for startups?
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2 Answers
WorldPay is one I'm familiar with and have used as a customer. It is operated by RBS (Royal Bank of Scotland). http://www.rbsworldpay.com/
I hope I'm OK to link to them?
You would need to look into Joomla APIs to see how to integrate WorldPay into the system.
http://extensions.joomla.org/extensions/extension-specific/virtuemart-extensi...
I would be happy to toss my hat in the ring – but more so I will try to provide my experience to it as well.
Regardless of which provider a merchant chooses, I personally believe he or she needs to check on a few things.
1 – Make sure all fees and percentages are clearly noted. When you do business online, by default the transactions percentages are always higher. However, many processors hide extra percentages and transaction fees for “keyed/online” transactions.
2 – Confirm exactly what the terms of the contract and cancellation fees are. Too many times where a merchant thought there was not a early termination fee or the term of the contract was less than what was really stated. Many (if not most) processors cannot change the length of the contract nor the penalties for early cancellation.
3 – Touch base with a couple of their current customers. Having a couple online ones are nice, but 2-3 should be the minimum to check before signing. Beware of any not willing to do so.
4 – Ask to see a contract fully completed with all fees & rates. Even better, ask to keep it to review overnight. If they will not – do not sign!!!
There are other questions/things to do, but the above would be at the top of my list.
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