Payment Gateway Comparison Tool
What is the real cost per transaction
This is a simple tool that puts the real cost per transaction for a standard online payments system.
Use this to calculate based on estimated volumes of sales how much in fees/costs you pay.
Standard Bank Charges for Internet Merchant Accounts
Below are some standard bank charges - provided to me by a Payment Gateway I use. When I asked the question can you get my clients a better deal than if they contact the bank direct they said yes.
Establishment Fee: $110 (once off)
Min Service Fee: $22 each month or the CC rate whichever is greater
Participation Fee: $22.00 Per month
Credit Card Rate: 1.233% MSF
Cancellation Fee: $550 within first 3 years and $104.50 After 3 years
Note: You can weave these figures into the Payment Gateway Comparison Tool which is primarily about trying to calculate what % of your sale goes in fees based on estimated sales.
Also there are cheaper options from some banks however if that option lands your client away from your site - statistically you will have a reduced rate of sales. Any solution (shopping cart etc) that does not reduce distractions or consistency will cost you sales.
For my clients I like to create custom shopping carts that are tweaked to improve the rate of sales per visitor. I also combine search engine optimization techniques to improve the visitor rate and quality of a site.
About the author
Philip Hoile has lectured at Griffith University in e-business, advanced e-business, e-commerce and User Interface Design. A web developer since 1996 specialising in programming website Content Management Systems.
My interest in web marketing stems from a desire to improve client outcomes.
07 55320651
0423 926 852
Disclaimer Information is presented here that may go out of date or expresses an opinion. This does contain information from sources I have an association with (i.e. I use thier services)
