Power Sellers Unite

vermonter53 · Joined: 31 May 2005 Posts: 206 Location: Vt. Where Else??

Just wondering if anyone out there has found a "REASONABLY PRICED" alternative to PayPal for sellers.

I have seen some listd taking about 4-6% + a certain amt. per transaction.

I don't personally see how these are a reasonable or affordable alternative. I don't like anything that has a percentage based approach. It cost no more to list lets say a $5000.00 item than it does a $5.00 item and the same idea holds true on issuing a check for $5.00 or $5000.00 to pay for the item. It's the same actual cost either way to do a check weather by electronic or paper.

We need a flat rate approach in my opinion. Anybody have any good ideas?? :idea:

AtomicVideo · Joined: 16 Jul 2005 Posts: 1232 Location: winter pak, fl.

with the demise of bidpay, about the only one left is www.stormpay.com

Roundabout926 · Joined: 08 Apr 2005 Posts: 2832

There are others other than StormPay, but that seems to be the most peopular. You can't use it on eBay, but if you don't sell there it might be worth it. It's got the same fees (or maybe even a little less) than PayPal, but I'm not sure how many buyers use it.

As far as what you said about the atlernatives, there are VERY FEW reasonable ones. I believe it has to do with the rates of the banks they use and such, and therefore these companies are unable to price competitively.

vermonter53 · Joined: 31 May 2005 Posts: 206 Location: Vt. Where Else??

AtomicVideo wrote: › docWrite("quote")with the demise of bidpay, about the only one left is www.stormpay.comI have heard of them but also heard there fees were over the top?? :o Do you know what there fees are or can someone let us know?

Roundabout926 · Joined: 08 Apr 2005 Posts: 2832

Receive Payments:
Non NetIBA** Certifed: 6.9% plus 69 cents
NetIBA** Certified accounts: 2.9% plus 39 cents

There they are :).

vermonter53 · Joined: 31 May 2005 Posts: 206 Location: Vt. Where Else??

Thanks, Do you use it yourself? Do the rates change like paypal as the amt. goes up?

Roundabout926 · Joined: 08 Apr 2005 Posts: 2832

You're quite welcome! No I don't use it myself. I'm not really looking for an alternative to PayPal for a few reasons. I want to be rid of PayPal because of the risk I feel that they can freeze my account at any time and will side with the buyer in any disputes.

Unfortunately, I feel the risks of an alternative shutting down at any given moment, or worse, being a scam (although that isn't likely the case with StormPay) are far worse than that of PayPal. Also, PayPal fees are very reasonable compared to the rest of the market. SwissPay or something along those lines is the only one I've heard of that beats PayPal, and I still wouldn't trust my money to it.

The fees appear to have only 2 tiers for the Non NetIBA certified and NetIBA certified accounts, and don't fluctuate based on volume.

If you're looking for a trustworthy alternative, you might want to look into processing credit cards through your own account with a bank. The rates are supposed to be cheaper than PayPal (depending on how much you sell a month). I've heard that $1000 a month makes this system very viable as an atlerantive, but I couldn't say for accounts that use less than that. I'd definitely look into it though!

vermonter53 · Joined: 31 May 2005 Posts: 206 Location: Vt. Where Else??

:) Sounds to me like the good old Postal sevice is a pretty good deal to me. If it's forged it's a federal offense. And you can easily see the water mark.

Also the buyer pays for it not the seller. :D

If we can be a little patient and get past the "I WANT IT ..NOOOOWWW! SYNDROME" ... :roll: ......we would be a lot better off all the way around anyway. I guess I'll stick to the postal MO unless something better comes along!

I still can use PayPal at onlineauction.com but it is a little more difficult than at greedbay. :(

Dooley · Joined: 29 Jul 2005 Posts: 53

vermonter53 wrote (View Post): › docWrite("quote")
:) Sounds to me like the good old Postal sevice is a pretty good deal to me. If it's forged it's a federal offense. And you can easily see the water mark.

Also the buyer pays for it not the seller. :D

If we can be a little patient and get past the "I WANT IT ..NOOOOWWW! SYNDROME" ... :roll: ......we would be a lot better off all the way around anyway. I guess I'll stick to the postal MO unless something better comes along!

I still can use PayPal at onlineauction.com but it is a little more difficult than at greedbay. :(

vermonter 53;

You might want to stroll over to www.paypalsucks.com and check out the post over there for PP alternatives.

There are a multitude of alternatives listed on their forums.

Dooley

knappschiles · Joined: 25 May 2005 Posts: 4035 Location: Wi

Wow, I was just over at PPsucks for a while looking at their alts.

There are several people there that are really PO'd at CardService International. Sounds like they do much like PP in not allowing you access to your own money.

Not good,
Carol

Dooley · Joined: 29 Jul 2005 Posts: 53

knappschiles wrote (View Post): › docWrite("quote")
Wow, I was just over at PPsucks for a while looking at their alts.

There are several people there that are really PO'd at CardService International. Sounds like they do much like PP in not allowing you access to your own money.

Not good,
Carol

Hello Carol,

I have looked at CardService to some degree but I am not sure they are not, (now don't quote me on this one, just IMO) another PayPal with a more elaborate interface.

From experience, getting a Merchant Account with a bank involves a much greater process than just simply filling out a application as Card Service offers. Most banks want to make sure a merchant is who they say they are, they have a good credit rating, they have a business license in the state where business is to be conducted and usually a tax certificate in the name of the business.

If we look at the fee structure I think we will find their fees are going to be higher for the small seller than PP or some of the other processors when we plug in the Ten($10.00) per month statement fee and the Ninteen Ninty Five($19.95) per month for payment gateway fee.

If you will take notice at the bottom of their web site they say they are an ISO/MSP for and give a list of banks. The manner which the statement is worded suggest to me they use several banks and are not affiliated with one inpaticular.

Just my thoughts, we need to get some more opinions.

Dooley

goodstuff4you · Posted: Tue Dec 27, 2005 6:56 pm Post subject:

I had a fully automated merchant account from CardServices International set up with my website until recently. The funds were always in my bank before the next morning. The only issues I had was the fees that they tack on if you do not hit your stated average amount (expected $ amount) on each and every transaction as well as the monthly expected amount.

knappschiles · Joined: 25 May 2005 Posts: 4035 Location: Wi

It's still all about the fees.

The CSI account would be more than I want to pay right now for my small volume of business.

I get 3-5 good (for me) months and the rest just cover my expenses (w/o the monthly fees they would add).

So for now I guess I still have to hold my nose and stick with PP as I haven't seen anything better.

Carol

Roundabout926 · Joined: 08 Apr 2005 Posts: 2832

Carol, do you not own a brick & mortar business as well? If so, you couldn't you use a debit/credit card processor through that AS WELL as your online business to make going with a processor much more practical?

knappschiles · Joined: 25 May 2005 Posts: 4035 Location: Wi

Not exactly.

Our business is a farm and we sell primarily at farmers markets. It's almost 100% cash. A few checks from time to time. But there are 3 or 4 ATMs on the square where we sell, so most people go to them when they need more cash. Hardly anyone even asks about using a credit card there.

Carol