Merchant Account Comparisons (updated August 2007)
*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 |
$119 |
$24.95 |
1st
500 free; $.20 overage |
Cybersource
included |
| Bank
of America |
$150 |
$19.95
+ $9.95 reporting fee |
$.10
+ 2.12% |
Cybersource
included |
| Wells
Fargo w/Cybersource |
$99 |
$31 |
$.30
+ 2.4% |
Cybersource
included |
| Wells
Fargo w/Authorize.net |
$99
|
$31
|
$.30
+ 2.4% |
Authorize.net
additional:
$40 set up*
$30 monthly*
|
| Pay
Pal |
$0 |
$0 |
$0.30 + 2.9% |
Included |
Payment Gateway Comparisons (updated August 2007)
*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. |
|
