Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.


View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 
Webhead
1828 posts

Uber Geek
+1 received by user: 521

Trusted
Subscriber

  Reply # 1053789 26-May-2014 17:40
Send private message

Trust me, you will not only have to pay for the transaction, your bank or other institution that are dealing with giving you the money WILL charge a percentage as well. Visa, MasterCard and American Express are far from charities.. 




1498 posts

Uber Geek
+1 received by user: 222

Subscriber

  Reply # 1053794 26-May-2014 17:42
Send private message

charsleysa:
jarledb: So does the clients pay the credit card fees? I would guess you are looking at something around 2-3% fee for the transactions with Visa and MasterCard, and somewhere upwards to 4% with Amex?

I really hope you have a good margin if you are covering the fees for the client, for a total revenue of $600k a year we are not talking pocket change..


As far as I know, DPS charges per transaction not a transaction percentage.

Their lowest package is $50 a month for 100 transactions. An initial setup fee of $150 applies.


You must have a merchant account on top of this, with their service they are only providing a gateway.  I agree it is a superior product to the ones the banks offer.  The % charge comes from your bank as this is where the risk is taken, not by DPS.

OP have you considered account2account with them.  It means they pay cash, but provides an intergrated online billing gateway that goes directly into their internet banking with the charges & account details filled.  They just choose what account to pay out of.

 
 
 
 


13230 posts

Uber Geek
+1 received by user: 1564


  Reply # 1053803 26-May-2014 18:01
Send private message

charsleysa:
jarledb: So does the clients pay the credit card fees? I would guess you are looking at something around 2-3% fee for the transactions with Visa and MasterCard, and somewhere upwards to 4% with Amex?

I really hope you have a good margin if you are covering the fees for the client, for a total revenue of $600k a year we are not talking pocket change..


As far as I know, DPS charges per transaction not a transaction percentage.

Their lowest package is $50 a month for 100 transactions. An initial setup fee of $150 applies.


You will also be paying a percentage commission to your bank, as DPS requires you have a merchant account with your bank. The % rate will vary depending on your deal with your bank. Also how are you going to handle potential chargebacks. eg You may need a clause in your terms about this.

231 posts

Master Geek
+1 received by user: 56


  Reply # 1053807 26-May-2014 18:13
Send private message

We use paystation.co.nz.  Their fee is pretty reasonable, $25 a month and get 150 transaction free per month.
Not sure what the amount limit though.

224 posts

Master Geek
+1 received by user: 38


  Reply # 1054148 27-May-2014 10:06
Send private message

astrae:
BuzzLightyear: I would recommend a company cally Flo2Cash - Auckland based


Any idea of the fees?


The fees vary depending on the merchant. I think your best bet is to talk to these guys and compare them to DPS.


2915 posts

Uber Geek
+1 received by user: 414

Trusted
Subscriber

  Reply # 1054299 27-May-2014 13:16
One person supports this post
Send private message

itxtme:

You must have a merchant account on top of this, with their service they are only providing a gateway.  I agree it is a superior product to the ones the banks offer.  The % charge comes from your bank as this is where the risk is taken, not by DPS.

OP have you considered account2account with them.  It means they pay cash, but provides an intergrated online billing gateway that goes directly into their internet banking with the charges & account details filled.  They just choose what account to pay out of.


Personally, I would not enable account2account as a merchant, nor would I as a consumer ever consider paying anyone offering it.  It basically does the exact same thing that we on Geekzone blasted POLi for, which is collect your internet banking credentials and scrape your internet banking pages to perform actions impersonating you.  It's a giant security risk, and DPS should be ashamed of coming up with it, and working to destroy it as fast as possible.

BuzzLightyear:

The fees vary depending on the merchant. I think your best bet is to talk to these guys and compare them to DPS.



You can't compare to DPS, who are a gateway.  DPS' fees are about $0.50 per transaction, because they still require you to have a merchant account with a bank.

IF you like the DPS interface, merchant accounts with Westpac come with DPS included at no additional charge.  And without negotiation, my rate was locked in at around 2.2% (2.85%?!?  Wow, ASB is ripping you guys off, earlier person).  Since 3DS is included as well, I am immune to card not present chargebacks as well (as long as 3DS was attempted, even if the card doesn't support it, the liability shifts from me to the acquirer instead).



253 posts

Ultimate Geek
+1 received by user: 16


  Reply # 1054330 27-May-2014 14:05
Send private message

Our client has decided to go with Amex and will pay the fees...  If they are doing this to collect Airpoints or rewards points they aren't going to collect as many airpoints as the fees they are paying...

As we are setup with Amex we will be doing a manual voucher directly with Amex.

Thanks for all the suggestions.  May need to look at them in future if credit card payments pick up.









224 posts

Master Geek
+1 received by user: 38


  Reply # 1054352 27-May-2014 14:56
Send private message

Kyanar:
itxtme:

You must have a merchant account on top of this, with their service they are only providing a gateway.  I agree it is a superior product to the ones the banks offer.  The % charge comes from your bank as this is where the risk is taken, not by DPS.

OP have you considered account2account with them.  It means they pay cash, but provides an intergrated online billing gateway that goes directly into their internet banking with the charges & account details filled.  They just choose what account to pay out of.


Personally, I would not enable account2account as a merchant, nor would I as a consumer ever consider paying anyone offering it.  It basically does the exact same thing that we on Geekzone blasted POLi for, which is collect your internet banking credentials and scrape your internet banking pages to perform actions impersonating you.  It's a giant security risk, and DPS should be ashamed of coming up with it, and working to destroy it as fast as possible.

BuzzLightyear:

The fees vary depending on the merchant. I think your best bet is to talk to these guys and compare them to DPS.



You can't compare to DPS, who are a gateway.  DPS' fees are about $0.50 per transaction, because they still require you to have a merchant account with a bank.

IF you like the DPS interface, merchant accounts with Westpac come with DPS included at no additional charge.  And without negotiation, my rate was locked in at around 2.2% (2.85%?!?  Wow, ASB is ripping you guys off, earlier person).  Since 3DS is included as well, I am immune to card not present chargebacks as well (as long as 3DS was attempted, even if the card doesn't support it, the liability shifts from me to the acquirer instead).


Disagree you can compare Flo2Cash with DPS. Both are gateways that ultimately connect to Paymark and they both have similar merchant and merchant aggregation services. However, you are right that you need to still have a merchant account with a supporting bank. Westpac and BNZ support both.

Anyway, sounds like you've moved on.

2915 posts

Uber Geek
+1 received by user: 414

Trusted
Subscriber

  Reply # 1054833 28-May-2014 10:09
Send private message

BuzzLightyear:

Disagree you can compare Flo2Cash with DPS. Both are gateways that ultimately connect to Paymark and they both have similar merchant and merchant aggregation services. However, you are right that you need to still have a merchant account with a supporting bank. Westpac and BNZ support both.

Anyway, sounds like you've moved on.


Ah, I note that flo2cash mentions in tiny print on one page that you can actually use your own merchant facility rather than theirs.  That would make it more akin to DPS (who do not offer a merchant facility).

Side note to OP, it costs nothing to also accept Discover/Diners (apart from the percentage commission), and now that The Warehouse owns the local issuer of these we're likely to start seeing more of these cards in the wild.

1 | 2 
View this topic in a long page with up to 500 replies per page Create new topic



Twitter »

Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

Vodafone TV — television in the cloud
Posted 17-Oct-2017 19:29


Nokia 8 review: Classy midrange pure Android phone
Posted 16-Oct-2017 07:27


Why carriers might want to embrace Commerce Commission study, MVNOs
Posted 13-Oct-2017 09:42


Fitbit launches Ionic, its health and fitness smartwatch
Posted 12-Oct-2017 15:52


Xero launches machine learning automation to improve coding accuracy for small businesses
Posted 12-Oct-2017 15:45


Bank of New Zealand uses Intel AI to detect financial crime
Posted 12-Oct-2017 15:39


Sony launches Xperia XZ1, a smartphone with real-time 3D capture
Posted 11-Oct-2017 10:26


Notes on Nokia’s phone comeback
Posted 10-Oct-2017 10:06


Air New Zealand begins Inflight Wi-Fi rollout
Posted 9-Oct-2017 20:16


The latest mobile phones in perspective
Posted 9-Oct-2017 18:34


Review: Acronis True Image 2018 — serious backup
Posted 8-Oct-2017 11:22


Lenovo launches ThinkPad Anniversary Edition 25
Posted 7-Oct-2017 23:16


Less fone, more tech as Vodafone gets brand make-over
Posted 6-Oct-2017 08:16


API Talent Achieves AWS MSP Partner Status
Posted 5-Oct-2017 21:20


Stellar Consulting Group now a Domo Partner
Posted 5-Oct-2017 21:03



Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.