Re Merchant Accounts. I use Worldpay as a bureaux because I am (or was mainly!) a market trader and therefore the scum of the earth, so Streamline laughed at me. I applied to the Bank of Scotland (not the Royal one aka Worldpay) and got one straight away. I got a natty terminal 15 quid a month) the money comes in 3 days and the fees are only 2%. Of course I don't get the Worldpay guarantee but I have paid so much in fees using Worldpay that it might not matter that much if I'm careful. Thinking of switching to Protx for processing online - £20/month - end of story.
Msg#: 1285 posted 11:13 am on Nov 25, 2003 (gmt 0)
If you have a terminal from the Bank of Scotland and take orders over the internet, you are risking a lot unless you have specifically obtained an internet merchant number (not just a merchant number).
They can (and will) remove all access, block funds and blacklist you. And if Visa or Mastercard block you, you unfortunately have no choice but to stop accepting cards. Or you can use PayPal!
Visa and MC are pushing to ban this type of activity and request that only authorised merchants have access to card numbers. Therefore we will all need to use WorldPay, NetBanx, ProTX or a similar service. Once again, if you do not comply, goodbye sales! This is not in force yet, but they were trying to get it done for 2004. Plus, you cannot use Verified by Visa or the MC equivalent to this if you use a terminal for sales. Collecting the customers password/pin-number yourself is illegal and can end up with a large fine or even prison as only Visa and Mastercard can collect this data.