It is pretty rough having the “Man” constantly in your back pocket as a vendor or merchant of any kind. Yet, the fees increase dramatically for Internet businesses who don’t use terminals and never see the actual plastic. Sure, it is true, the risks are higher, but when I see that debit post on the first of each month in our DBA account flames of fire shoot across my forehead and cheeks.
Depending on the gross volume of transactions you process each month, the payment gateway you choose can cost or save you money. Oh, and the paper statements you receive? Most of them look like some type of hybrid calculus. The big companies purposely do their best to hide what they take. Why? Because it does feel like they are a little dirty, taking a small businesses hard earned cash.
In my ten years of experience as an Internet merchant I have found only a few payment gateways or credit card processing services (out of dozens) who shoot straight. Now don’t get me wrong, I don’t exactly like seeing money go the wrong way out of our bank account. But then again, I know it is at a fair rate from a company that I can depend on. Whom, I have called before about an erroneous charge or fraud attempt. At the top of this list is a highly reputable company known as Authorize.net.