3rd party processor suggstions

Whos the best third party? How long does MATCH stick?

[newcsguy]

I am a long time vet of online business giving up two years ago, being placed on the MATCH (terminated merchant account) list and finally going bankrupt, leaving online business and changing careers.

Nowdays, Im looking into doing something part time again. What is the best 3rd party processor these days? I couldnt afford to do business at 12% as some charge and dont trust some of the overseas operations. My products are consumer electronics, with a tag of approx $200 usd average. (does anyone know anything about imagination.com? it appears clunky but cheap)

Also, how long am I on the Terminated Merchant File, I have asked bankcardlaw.com with no repsonse and hope someone here has experience leading to a known time frame.

Thankyou

[Essex_boy]

You need to shop around this site for those answers relating to CC processors

[newcsguy]

I have, much of it is outdated as the 3rd party processors seem to come and go...

I dont see an answer anywhere as to time frame of being on the match list.

[Phillyrich]

newcsguy, I beleive that you are on the Match List for life unless you do something to remove it. I know of some merchants that have had sucess being removed.

[newcsguy]

You may be right about 4 life. I have heard many rumors and theories, but no one seems to have any real knowledge so far.

[Mr Bo Jangles]

here is a listing of 3rd party processors:
online-payment-processing.com

I didn't see ccavenue there on a quick look, but they have been getting some favourable comment in other posts here, so they might be worth a look.

[Corey Bryant]

What was the reason you were placed on the Match list? You need to contact that processor and work something out. They are the only one that can remove you. You can still get a merchant account thru some organizations - just very difficult

-Corey

[newcsguy]

I was terminated for "excessive chargebacks"

Actually I had a few chargebacks so the processor decided on a 10k reserve, which they withdrew immediately that withdraw nearly broke me and I was unable to deliver a handfull of products in a timely fashion resulting in more chargebacks and ultimately the end. Thats the short version anyway.

[Corey Bryant]

It is possible to get a merchant account if you are on the MATCH list & especially for that reason. Some companies will require a lot of information & it will require patience from you.

I have seen similar stories like your before. The processor might just request your financials, bank statements, etc. The high risk department would look at your account.

You might consider also contacting the old processor and see if they would consider taking you off the MATCH list

[newcsguy]

So far I have only been suggested a offshore merchant account which seems very expensive. Also, a part of me is shaking with fear at the idea of giving a processor my livelihood once again in their hands. Waking up with a 10k deduction from your bank account that is out of your control is an awakening experience.
But in reality I realize if I choose to take a serious stab once again at online retail it is a must. I was really hoping for a new miracle cure third party but it appears that venue has slimmed rather than grown in the past two years since my departure in the online biz.

[Mr Bo Jangles]

Newcsguy, do you really gain so much by having your own merchant a/c, as to going via one of the two dozen third party processors? It seems that you've been through, and are going through so much pain - just switching to one of the better 3rd party processors for a year or so would settle things down, and settle you down!?

[Corey Bryant]

Actually yes, if he is in the United States.

A merchant account for about $10k a month could cost about $310. Using a third party process like 2CO, might cost more along the lines of $600.

-Corey

[prairie]

Perhaps you could obtain a merchant account through a family member?

[newcsguy]

I only know of one 3rd party processor (2CO) that is less than 6%, transfers to bank account for free, doesnt have a big (200+) signup fee, isnt intended only for digital products or shareware, and seems to have been around for at least a little while. But there are complaints of customer service, waiting for funds etc all over this site, which isnt assuring. I wouldnt want to open a merchant account in someone elses name, im unsure if it is an accepted process and in the long run having the account in someone elses name would create problems I would assume. I appreciate your input. Is there another 3rd party along the guidelines I mentioned?

[Mr Bo Jangles]

Paypal - with your own dressed-up lead in page.

[prairie]

Have you tried contacting the bank?
If its been a while, surely they would reconsider this sort of listing.
If its your name on a file that's a problem somewhere, perhaps opening a merchant account in a company name as opposed to an individual's name is a workaroud?

[newcsguy]

I will contact them since Im unsure exactly how Im listed, and frankly I dont understand exactly what info is checked ie adress, name, biz name, against the database of terminated merchants. No offense but the comment about the processing bank reconsidering, is very funny to me. Maybe your processor is an exception but I have yet to work with one or hear of one that reconsiders anything at the merchants request. Im also looking into ikobo currently trying to find details about its service.

[Corey Bryant]

If you are in the United States - don't consider Ikobo. I do not recommend them for any United States processor, especially if your livelihood depended on it.

And plus, what is the worse that can happen with the processor? They tell you no. Nothing changes.

-Corey

[newcsguy]

whats wrong with ikobo?

Ive read tons of input and discussion mostly good, and ive spoke with customer service today and was impressed. What did i miss?

[Kristin]

Try Paycom.net. It'll be less than 12%, and you won't have to watch your chargebacks too much. If you don't mind my asking, what was your chargeback %?

I believe you are on the terminated merchant file for life. I think once you are on it, you can't get your own merchant account ever, but I could be wrong.

[Corey Bryant]

Well I just was never impressed with their spamming on forums and when their site is down, you cannot access your account information. They only use one name server so the site goes down quite frequently.

-Corey

[newcsguy]

When my competition includes a 3% cost factor for their merchant account processing it is very difficult to be competitve with a 12% processing fee. Many times that is all the profit in the product altogether. Honestly I dont see how some could make any type of profitable company when you include the 12% for processing, and other costs necessary for promotion etc. I will keep looking into Ikobo it seems attractive at this point. Thankyou everyone for your input.

[newcsguy]

BTW my chargeback was initially about 3% if I remember correctly, its been a couple of years ago. It went into a downward spiral after the processor wiped out my biz bank account to the tune of 10k, in the end I problably had a chargeback rate much higher in the last few months of "business"

[imidazole]

hi

Have you considered ikobo?

Ikobo is one of the lowest credit card
processor just 2.99%+$0.29..

One MAJOR advantage for International merchant like myself is that I don't have to wait 1-2 months to clear the check. I can withdraw the money from my account in just 1 or 2 days.AMAZING right?

I have been using it for 4 months now and
I am very happy with their service :)

Here's the <<<LINK>>> [ikobo.com]

[benevolent001]

i thinks if he is looking for payment processor except paypal then ccavenue is best option.considering the quality of there service .
if you are ready to give 5.5% charges then ccavenue is the best

[Mr Bo Jangles]

Mmmm, looking at ikobo's fees and other things, this company *appears* good!
Anyone had any tales of woe about Ikobo?
- hey that rhymes *_*

[benevolent001]

ikobo is good i think if only visa and mastercard is being used.also i have read here some one posted that ikobo are having problem in processing mastercard.
although i am not using it,but its great if we have to use just visa and mastercard

[sabai]

imidazole - four posts on WW, all of them plugging ikobo and violating the TOS of this site by posting links. Every post had a link, and you've written about nothing else.

It seems to be true that everybody who plugs ikobo is a new user - on WW lots of the pluggers have like 1-10 posts and a lot of them are expired accounts.

Try a web search for ikobo nightmare and ikobo problems... I'm not sure about ikobo....

[sabai]

In fact, that link above ends ref.cgi?r=LD846901MY which looks like an affiliate referral ID to me. As for other posts by imidazole.

[WebFusion]

BTW my chargeback was initially about 3% if I remember correctly, its been a couple of years ago. It went into a downward spiral after the processor wiped out my biz bank account to the tune of 10k, in the end I problably had a chargeback rate much higher in the last few months of "business"

Personally, I think you're putting the cart ebfore the horse here. If your chargeback rate was 3% - that's VERY high. I'd make sure our business model was sound before I took the plunge into it again.