Merchant Account Comparisons
(updated March 2009)
*Many Merchant Account
companies are available. Below is just a sampling. However, please
consult with me before selecting the payment gateway for your merchant
account to ensure that it is compatible with MIVA shopping cart.
| Company |
Setup |
Monthly
|
Transaction
|
Gateway
|
| Miva
Payment Silver |
$0 |
$25 |
$.30
+ 2.39% |
Cybersource
included |
| Bank
of America |
Must
call for latest prices. No longer available online |
Cybersource
included |
| Wells
Fargo w/Cybersource |
$99 |
$31
+ $7.50 billing fee + $40 annual fee |
$.30
+ ave. 2.4%
*% varies by type of transaction
|
Cybersource
included |
| Wells
Fargo w/Authorize.net |
$99
|
$31
+ $7.50 billing fee + $40 annual fee |
$.30
+ ave. 2.4%
*% varies by type of transaction |
Authorize.net
additional:
$10/month
|
| Pay
Pal |
$0 |
$0 |
$0.30 + 2.9% |
Included |
Payment Gateway Comparisons (updated March 2009)
*The Miva shopping cart
accepts many gateways. However, please consult with me before selecting
a payment gateway to ensure it is compatible with your MIVA shopping
cart.
The majority industry
payment gateways are:
Cybersource, Authorize.Net and Pay Pal
| Amenity |
Cybersource |
Authorize.net |
Pay Pal |
| Fees |
Varies w/reseller |
Varies w/reseller |
$0.30 + 2.9% |
| Compatible w/MIVA |
YES |
YES |
YES |
| Hacker target? |
NO |
YES-Denial of Service attacks |
YES-Phishing attacks |
| Credit Checks? |
YES |
YES |
NO |
| Name on statements? |
Your business |
Your business |
Pay Pal |
| Access to credit numbers by merchant? |
NO-considered a security risk. Numbers are not
stored. |
YES-credit numbers are stored on Authorize.net
server. |
Yes and No. numbers are stored on Pay Pal server
but merchant does not have access. |
| Comments: |
Cybersource is used by large corporations but
is breaking into the small business market. Currently in the
process of buying out Authorize.net |
Authorize.net is typically used by small businesses.
It tends to be the least expensive of the true merchant accounts.
It has unfortunately been the target of hackers, although this
is not the company's fault. |
Pay Pal is a third party merchant account. Basically
you are paying to borrow their merchant account and payment
gateway. User must leave your store and go to the Pay Pal web
site to complete their sale. Pay Pal's name appears on the customer's
credit statement. |
|
