Online Payment Processing Company

Discussion in 'Payment Processing' started by iescrow, Feb 22, 2011.

  1. iescrow

    iescrow Member

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    Hi guys, I will be diving into another ecommerce venture, and i have decided to use magento as my cms and will be selling replica product to start, as they are relatively cheaper to buy and stock compare other ones

    having searched online, i have yet to find a payment processing company that suits my need, as

    1) high merchant rate, like 10% per transcation
    2) long turnout time, as i like the payment company to wire transfer the fund to my business bank account every week or every weeks, but definitely not every 4 weeks, i lost tons of money b4 because of long payment cycle
    3) companies that do meet the above two criteria are not willingly to accept my site as some do not like products such as replica, porn, drug, etc

    i am posting here to find out if anyone has already dealt with or know some good payment company that suit my need, please recommand :)

    also, if you like to help me start this venture, you can post or pm, just let me know what you like to get involved with, pay, condition etc and there's definitely room for talk
     
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  2. FourHunters

    FourHunters Member

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    Actually, it's kinda easy to implement your idea, do dropship rather than buy and stock.

    I am using a company, who provides websites, payment gateway (payment processing) and everything for you.

    Basically, they will make a website ready for you, put up all the products, the website will use their payment gateway, all you have to do is to get customers to your website,generate orders and do customer services. They will post the products directly to your customers and pay you a percentage of the payment as your profit.

    PROs: 1. Very little investment, maybe dozens of Dollas for the domain and web hosting, you get your business ready to run in a few days.
    2. No risks. You will not lose anything even in the worst case, which is you fail to get traffic to your website,therefore, generate orders. You never need to be woried that you have big stock there and can't sell them, from which you lose money because you have bought a lot of things that cann't sell well.
    3. High conversion rate. Because of the competitive price, from my experiences, every 100 IPs will generate about 6-12 orders.
    4. You get paid once a week. Depending on the quantity of orders, you get a percentage of the total money received, 5%-10% normally.
    5. You don't need to worry about payment processing gateway. If you make a sale, you get profit for that sale.
    Your paypal will be suspended or froze to check from time to time if you use paypal.
    You will not get your money normally 45 days to 60 days if you use credit card processing company, and you have a big risk that you will not get your money paid.

    CONs: 1. You can't sell anything as you wish. Becuase the company will send the goods to your customers, they need to make sure the quanlity is ok.
    2. If you have already had a web shop ready, you can't use this service, reason is as above.
    3. You need some skills to get traffic to your website, use SEO, offsite leaflet, ads, or whatever way, so that they can buy products from you. (by the way, they provide SEO services, which guarantee your website get the amount of IPs you plan for).

    I guess I am not allowed to post link here, so if you or anyone are interested in this, I can recommend you to them and you can start your business straightaway.
    You can reply to this thread or PM me. I check my PM box a few times a day.

    Hope I can give a little help for you or those people who want to sell things but don't want to invest money.

    Thank you.

    Tim
     
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  3. iescrow

    iescrow Member

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    i have a couple questions
    1) what is the cost of all their service building website, drop shipping rate... etc, i guess this would add up as i believe it wont be easy
    2) what is the rate for online payment?

    it sounds like some product wholesaler which offers thousands of products and looking for web marketing people to market it online... is it all this dropshipping is about?

    what if the product i want to sell is made outside the states and neends to be imported ?

    thanks

    PM The company website if you can thanks
     
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  4. bally

    bally New Member

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    Hi ..

    I am trying to find a payment processing solution that I can use on my site as well as virtual merchant.. I shall be grateful for your suggestions and ideas please..

    Thank you in advance
     
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  5. janetjie

    janetjie New Member

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    This is absolutely very interesting and informative read thanks for sharing here,these reason are absolutely good and useful about Tennis Wrist rolex replica watches.Thanks again .. keep it up..

    Regards
     
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