What is the best online credit card processing company?

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Joined: Wed Sep 11, 2013 5:40 pm
Location: USA

What is the best online credit card processing company?

Postby dolphin » Wed Sep 11, 2013 5:55 pm

Hi All

Hopefully some of you would be able to give a tip since I see your main topic on the forum matches my issue.

I have been searching for appropriate ( ! ) online credit cards charging virtual terminal for a way over half year with no success at all. After contacting 150+ (im not joking) merchant providers, including high risk ones, I give up due to one, two or all of the following reasons:

- they ask for unrealistic documents in order to approve my application request for our company that can never be provided (e.g. voided check)

- they hold the funds for no reason instead of immediately sending/depositing/forwarding them to the USA bank account. Our company is located in USA.

- pending time to receive funds on bank account after charges on virtual terminal for ccs charging is too long (e.g. stripe has 7 business days, no chance to wait that long, not even close to that)

- they have set up starting fee (fortunately very few does)

So for either (or all) of those reasons I always fail applying for merchant provider account to access virtual terminal and/or using terminal for those few tens I have successfully applied but didn't work - funds from our sales never arrived to the bank account. Instead they were on hold.

I am starting to give up, actually I already did, that there is any appropriate merchant provider who would FOR SURE not hold the funds and not ask for documents except driver license, utility bill and perhaps credit report / background report. But definitely not unrealistic documents as said one above or in most worse situation even bank account statements. Anyway, if anyone could suggest some merchant provider to access ccs charging vt who (merchant provider) doesn't hold the funds, for sure not, please do so.

But I came here for little different question: Could anyone tell me if there exist any free or free to try (but with no particular limitations) software as equivalent to credit cards charging virtual terminal where funds would go DIRECTLY to the bank account? Since I said ''free'' one, programs like XCharge Pro etc are definitelly not an option.

Please don't say authorize.net, quickbooks (yes it is desktop software), ignite payments, firstdata, bank's own merchant services, neteller, paypal, moneybookers, etc. I have tried everything and even more and so far nothing works. Funds are on hold everywhere.

I would appreciate a lot for some tip what should I use, either web or desktop software. I lost my hope with merchant providers but you are still welcome to suggest one if you are sure for no holding of funds. The problem is I am afraid to say to our clients if they could pay differently instead of being charged based on credit card authorization form (signed and filled) because they could change their mind about purchasing our products. This could cause major problem with our company.

Thanks in advance. Praying that someone could suggest anything.

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Joined: Mon Sep 23, 2013 6:52 am
Location: Washington, DC 20011

Postby AlankRodriguez » Mon Sep 23, 2013 6:58 am

What I know is that not all companies are perfect and all of them have some or other drawbacks and hence don't think much.

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Postby Midori » Mon Sep 23, 2013 5:55 pm

I don't think I've ever heard of a credit card processor that didn't process funds through a merchant account. I don't believe those exist.

I also don't think that a voided check is exactly a burdensome, unrealistic request, but that's just one business owner's opinion. ;o)

From what I've seen, credit card payments are commonly available by the close of the following day, and then it's up to your bank to post the funds to your account. So, two days. How does that timeline compare to taking a paper check to your brick-and-mortar bank and waiting for it to clear?

Chargebacks are the nature of the beast when dealing with credit cards-- it's all tied into consumer protection. You might read up on Google Checkout-- they've got a good reputation for being pretty strict on protecting their merchants from fraudulent chargebacks. If you're selling physical items through the mail, requiring signatures and sending everything with tracking is very important in giving yourself protection against chargebacks of the "I've never received it" sort. Maxmindis also recommended by some to help cut down on fraud, if your business is of the "sell things on Amazon or eBay" nature. In Food & Beverage, where people just abandon their cards and tabs and report the cards as lost or stolen, it's good to hang on to their driver's license instead, and maybe mix it up with a little pay-as-you-go. If you've got a vice-based business where you're worried about your patrons waking up the next morning and feeling remorseful, you might just switch to cash. :o)

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Postby Mrm-na » Tue Sep 24, 2013 9:26 am

Google Checkout is shutting down in November. I've gotten repeated emails from them basically telling me to stop using their service, which I find kind of amusing.

Sorry I can't be of any help, I don't know much about these services outside of Paypal/GC.

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Joined: Sun Mar 02, 2014 9:58 pm
Location: USA

Postby BradleyLewis » Sun Mar 02, 2014 10:06 pm

Why you don't try Payscout? This is a perfect and easy payment gateway. There are so many people use Payscout and I am also one of them. Payscout can provide you free merchant account setup without any charge and their credit card processing fee is also very reasonable.

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