Merchant accounts

For the credit impaired

[Reflect]

Hello,

I have been talking with a vendor who wants to move into on-line sales. The only issue is she has lousy credit. What merchant accounts or payment gateways will deal with her?

Thank you,

Brian

[Essex_boy]

2checkout.com guranteed. No questions asked as long as she can pay the $50 or so opening fee.

[pedwards]

At Ikobo you don't have monthly fees and no setup start fees. To get a free merchant account only a valid email address is needed.
They give you Visa Debit card to withdraw your money on any ATM machine in the world. From the time the first payment is made the card arrives in up to 5 days. Funds transfer is instant.

[Reflect]

Thank you both for the responses.

Also thank you to the people who stickied me.

Brian

[robho]

At Ikobo you don't have monthly fees and no setup start fees.

Has anybody (other than Pedwards) had any experience with Ikobo?

The way they are promoting a multi-level (MLM) affiliate program would be a big red flag for me.

So normally would naming it after a Nigerian city, but the co-founders with Nigerian connections do seem to be respected established businessmen. The other primary shareholder is a Caribbean bank (Global Bank of Commerce in Antigua, formerly the Swiss American Bank). Both Ikobo and the bank have "30 employees" - not clear if there is an overlap.

There are no fees to startup, but there certainly are fees to actually get at your money: either $1.95 (US/Can) or $19.95 (elsewhere) shipping to get a debit card, then usually ATM fees.

The headline transaction fees shown are a little misleading, as there is also a 2%+29c fee for the buyer, which the merchant can absorb, bring the true fee to 3.99% + 29c (minimum $1).

Like paypal, a primary disadvantage is that you have to get buyers to sign up for an account.

[gazza]

As of Jan 2004 no fees to get the ikard - according to email I received - their Jan newsletter.

"At last! We are proud to announce that we are now offering free worldwide
shipping of our i-Kards! That's right! You will now no longer be charged any
shipping when you send someone a new i-Kard. It is because of you, our valued
customers that we are able to offer this as a thank you for your continued
support. Now, we are better than before - faster, more convenient, easier to
use, and now free shipping!"

[robho]

As of Jan 2004 no fees to get the ikard

As of today, their terms and conditions are still quoting the fees. Presumably the website hasn't been updated in a while - even the offers on the promos page have all expired.

Sounds like a good system for sending money to relatives overseas who don't have bank accounts, but as a merchant system it expects too much of the buyer.

It's also worth noting the merchant rates are a limited-time offer - I couldn't find a mention of what they will change to after Feb 29.

[Viki]

Is there anybody who has learned iKobo merchant program at the first hand? If there is, then express your opinion as to their service.

[Auteuil]

I have not have any personal experience with iKobo, however there are lots of forum postings at nopaypal from people who say they use / have used the iKobo online payment processing service.
Caution: The nopaypal forums mentioned above are rough and tumble places with lots of anonymous postings, strong language, self-promotional postings by payment processors, and overlapping topic strings that would never be tolerated at Webmaster World. I would advise therefore that, while there is useful infomation to be gleaned at nopaypal, healthy scepticism and patience should be exercised when browsing there.

[Hogwaump]

iKobo merchant systems leave a lot to be desired. Their website is obtuse and unfriendly. The functions provided to create 'buy now' buttons do not work. A problem report entered into their system has now gone a full week with no reply whatsoever. A followup query apparently went into the bit bucket. So far, I have been able to use their 'request money' via email feature, similar to paypal, and have successfully received a payment into the account that way, but as for integrating into the web site, no joy at all. The up side is that they do have a toll-free support number, but isn't much good for technical questions. IMHO they have promoted their services beyond their capacity to support it and are playing catch-up. Paypal was just about as bad as iKobo in the early days - perhaps iKobo will shake things out and get their system ready to use, but for now it is useless for ecommerce.

[Viki]

I hope their merchant program will be improved in the nearest future. But the Ikobo company has a lot of pluses in comparison with other similar companies for P2P transactions. Their fees are very low, they have reliable security system, their services are offered in the contries wich are inaccessible for other companies, their system is very easy in use. And at last - free i-Kard shipping. It's really great!

[Viki]

Did you hear the latest news of iKobo?

It's here! Instant Payment Notification!
Now you can receive an instant message notifying you once someone purchaces from your website. That's Right! IPN sends you immediate notification and confirmation of all payments processed by iKobo.
- Automate your fulfillment operations
- Store transaction information in our own database
- Track customers through the PIN "pass through" variables
- Track affiliate sales and commissions
IPN can easily be integrated with our shopping cart or single item purchases.

Merchants, see the new Item and Shipping Options.
- Item Options - Give your buyers a choice of size, color, weight,etc.
- Shipping Options - Give yuor buyers the option on how they want their purchases shipped. You set the shipping options by country and customize details for each item that you sell
- Receive payments instantly - your buyer's purchase appears instantly in your ikobo account