| Startup Costs & Ongoing Fees |
| USA ePay |
Merchantlite |
Merchant* |
| Application Fee |
None |
None |
| Cancellation Fee |
None |
None |
| Yearly Fee |
None |
None |
| Setup Fee (one time) |
None |
$49 |
| Statement Fee (monthly)** |
$2.95 |
$5 |
| Gateway Fee (monthly) |
$12.50 |
$12.50 |
| Per Transaction Fee† |
$0.25 |
$0.21 |
| Mid Qualified Discount Rate‡ |
2.85% |
2.29% |
| Monthly Minimum |
$0.00 |
$15 |
* Also available with Authorize.Net. Different fees & rates may apply.
** May vary on risk level
† Includes gateway and merchant account fees. AVS fee adds $0.05 per transaction
‡ Non-qualified transactions are subject to a surcharge of 1.00% for lite and 0.70% for Merchant
|
|
With our highly competitive rates and percentages, you'll pay less for each transaction,
putting more money back in your pocket for each sale at your ecommerce website.
Some merchant providers charge $100 or more to have your merchant account set up
and tie you into a long term contract to receive their best rates. You also have
the choice of two payment gateways unlike other providers who offer only a single
set of rates with one gateway service. Authorize.net is a well-known, highly reliable
provider while USA ePay is another reliable provider that offers extremely competitive
rates.
-
This is the person shopping on your website who wants to purchase your product and/or
services. Your Customer is able to do these things safely and securely at your website
because you have given them a page protected by a SSL certificate, which
will encrypt their payment and personal information before their payment is processed.
-
Your Customer has added the item they want to their shopping cart and they are ready
to purchase. The Cart in question can be an actual shopping cart application (Zencart,
osCommerce, Storefront, Cartweaver, etc.) or a simple page where they can enter
their payment information. Once your Customer clicks the "payment" button, all of
the data that the cart has stored is compiled into a format that can be easily passed
on to the Payment Gateway.
-
Information that is gathered by the shopping cart is passed on to the Payment Gateway
(Authorize.net, USAePay, etc.) where it is checked to make sure that it is complete
enough to send off to the Credit Card Company. The Payment Gateway then determines
which Credit Card Company is needed to manage the transaction and then sends the
information on to them.
-
The issuer of the credit card validates all of customer information - credit card
number, billing address, etc. Once verified, the Credit Card Company will send an
acknowledgement back to the Payment Gateway so that the transaction can be processed.
Should the transaction fail, the Credit Card Company will send a denial code back
to the Payment Gateway that indicates what problem was encountered with the transaction
(the Customer can then choose a different payment method or cancel the purchase).
-
If the transaction is a success, this information is relayed to the Customer, usually
in the form of an "Order Confirmation" or "Thank You" page. In addition, the Payment
Gateway initiates a funds transfer, also referred to as the settlement request, for
the purchase amount (minus the transaction fee and discount percentage) to the Merchant
Account for deposit.
-
The Merchant Account receives funds from credit card purchases and then makes scheduled
transfers to a merchant's bank account. This is, essentially, the final step in
the whole Merchant Processing scenario which takes literally seconds to complete.
Funds collected into a Merchant Account are generally transferred over to the merchant's
regular account within 48-72 hours.
Getting started is extremely simple. Just click the "Order Now" link and fill out
the short application. A Newtek representative will review it and contact you to
complete the sign up process. Your application should be approved within 24-48 hours.
With a 99% approval process, you are virtually guaranteed to have your account up
and active when you need it.