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Since no single processor can be found for such type of application. I am breaking down problem to country wise cheapest processor for accepting website payments both from credit cards and direct bank debits.
I was wondering what costs are involved for Payment processors to process each transaction. Each transaction must be some flat cost to them. But they earn huge margins in % fees.
free processing for charitable / Not for profit organizations?
You're not going to find a merchant service provider that will process transactions for free.
Each transaction must be some flat cost to them.
The underlying cost of Visa, MasterCard and Discover bankcard transactions is based on the interchange reimbursement fees for each of the respective card brands. Interchange is expressed as a percentage of the gross transaction value and often a per-transaction charge.
Check out each company's website for their interchange fee schedules. The charge assessed to a credit card transactions depends on which interchange category that it qualifies to. In your case, international transactions and business transactions will qualify to a higher interchange category.
Charity organizations are tough. If it's a well known organization doing significant volume, you should be able to secure an interchange-plus pricing model that will put you several basis points above interchange.
Thanks for posting
Actually i got phone call from this charity again , its huge one and gets donation from all parts of world in all form of currencies. Since they called me to help in this i thought i need to take up. Earlier i was bit relaxed and put project in back burner. But since this is for charity i will take up time to do this.
They get payments from Credit cards , bank accounts , cheques all around the world. I feel its difficult to find single processor for all those stuff. So i have decided to divided the project into few categories
I feel now dividing this i will be able to get some good deals.
Secondly i need some reviews on this ( Although final call will be by charity administration)
To whom does those 1-3% transaction charges be passed on ? Donator or the charity himself.
I shall be thankful if you guys can do one thing
This can be used as reference for many future similar charitable efforts by all of us at WebmasterWorld
Your rates are going to vary by volume, credit history, etc. In the USA First Data and Chase Paymentech are two of the bigger ones. Expect to pay somewhere in the 2-3% range for card not present transactions.