US and Continental Credit Card Processing

[Giles]

We are thinking of utilising a new credit card processing company.  The main benefits are:

1. US credit card transactions will be handled by a US bank, thus it will look like a US domestic transaction.  I know a number of you have had issues when trying to buy outside of the US as it was a cross border transaction.  The new facility will stop this happening

2. Many more local cards will be supported such as Carte Bleue in France, AirPlus and GiroPay in Germany, e-NETS in Singapore etc.

3. We'll accept Amex

It'll cost us more to run, so what do you think?

G

[deadendpro]

if it means more business for G+P, i say go for it. also depends how many more transactions need to happen before you would be in the black with the expenses of the new service so you can know if it will be profitable or not.

[jimmy]

Amex is a killer for retailers

[jacoavlu]

Would it mean you have to raise prices?
Would it mean you get rid of paypal?
Either way, you do what you gotta do G. I think we would all support you doing what's best for your business.

[Giles]

@jimmy:

Amex is a killer for retailers

What do you mean?

[Giles]

@jacoavlu:

Would it mean you have to raise prices?
Would it mean you get rid of paypal?
Either way, you do what you gotta do G. I think we would all support you doing what's best for your business.

No, we will not raise prices, but I think it will give all customers a better experience.  Technically I can get rid of my relationship with PayPal, but for the user he will still think i have that relationship.  basically the new CC company acts as my PayPal entity and does the interface for me.  This is good, because as a vendor, I hate PayPal…..

[jacoavlu]

@Giles:

@jimmy:

Amex is a killer for retailers

What do you mean?

Higher processing fees, probably.

[Giles]

The deal I have got means that the extra Amex processing fees are so small as to tend to zero…....So it is not an issue.

I know as a purchaser, I will always try and pay with Amex if I can........

[madmonday]

agreed when you pay with amex you are covered,  been a member since the 90s which is a long time for anyone to keep me around 

i think it's a good idea to try this out it will help you all to grow & reach more folks.  anyway that allows you as a business to accept more forms of payment is a good deal.

also it is always good to get away from an abusive relationship, i lok at paypal as the f^cker that you can't get away from since they don't protect you in the event of fraudulent charges.

hopefully this new vendor will remedy that & you can use paypal for special purchases & the like.

[Giles]

Thanks for your input guys…...

[Seul]

Anything that helps you get rid off Paypal or reduce its usage is a-ok by me…

What has the highest fee btw: Paypal or Visa?..

[Giles]

Answer too complex.  CC fee's vary depending upon the geography they originate from.

Some are less than PP, some are more.

G

[jimmy]

Yeah that's what I mean. Not sure about online but for me the monthly% charge depends on how much Amex transaction you've put though. Obviously more I do the cheaper it gets but still pretty high in comparison to visa/master.

@jacoavlu:

@Giles:

@jimmy:

Amex is a killer for retailers

What do you mean?

Higher processing fees, probably.

[apba1166]

Hi Giles, we had one for years (CC processing co.)….The convenience is nice, also having Amex was good (negligible fee difference as you said). But we found continual errors in the pct and fee deductions some months vs. what we thought we had agreed to. All was made good--but it was a struggle to get them to get it right because there are multiple vendors involved sometimes. Just check it once and awhile: like all banking and institutional things, the fees tend to move upward without explanation if you are not diligent.