Online Credit Card Verification
We can offer a combined verification and funds clearance service online, or services that cater for verification and funds clearance separately. What is the cost of an Online Credit Card Verification facility?
Options for receiving credit card payments
There are a couple of options when accepting credit card payments and these are as follows:-
The user selects the product they wish to purchase and fills in their credit card details. The purchase and credit card details are emailed to you where you can verify the card offline and send the product to the user. You will need an offline credit card facility for this. Bank fees can vary for the setup and charges for a credit card facility for offline verification but they would start at about €100 for setup with a €20 monthly charge and 1.5% to 3% per transaction charge.
The user selects the product they wish to purchase and fills in their credit card details. The credit card details are verified online and you are sent an email to confirm the transaction so you can send the product to the user. Online credit card verification is carried out using a choice of online merchant payment gateways and/or providers such as World Pay, Realex (in association with your own bank) or Paypal.
Online Credit Card Verification
Examples of costs associated with online credit card verification are as follows:-
Option 1 - WorldPay
Set-up Fee: €300 Monthly Fee: €45 (Note - €270 fee payable upon application for initial 6 month term, then €45 per month ongoing).
Transaction Service Charges: 75c per transaction for Debit cards. 4.5% on the value of all other transactions e.g. credit and charge cards etc. 6c per transaction for anti-fraud system. These prices may have been updated since this article was written so for the latest WorldPay prices always refer to www.worldpay.com.
Option 2 - PayPal
No set-up fees No monthly fee. Transaction fee of 3.9% + 35c. The disadvantage with Paypal is that your customer must also sign up as a member of Paypal in order to make a payment to you. These prices may have been updated since this article was written so for the latest Paypal prices always refer to www.paypal.com
Option 3 – Realex
For less than 50 transactions per month the following charges apply:-
Set-up fee €250 Monthly fee 49 Transaction fee 98c. These prices may have been updated since this article was written so for the latest Realex prices always refer to www.realex.ie
Your bank will charge a set up fee of approximately €100 to €200 and a transaction fee of 1.5% to 3%.
These charges are only meant as a guide. The banks will quote their fees on each application based on criteria such as turnover and product category.
There is an additional charge of €450 which Barrowvale charges for integration of an online payment facility into your website. There is no extra charge for offline verification.
Offline Credit card verification
Sometimes offline credit card verification may seem to be the logical choice but the banks won’t allow the business to process payments offline. In this case Barrowvale may have the facilities which will allow you to do this.
All prices exclude VAT