What's the best solution to suit your needs?
(followed on from payment methods)
Overview of Level 1
- No bank setup fees, ongoing monthly fees or transaction fees.
- Does not represent a true ecommerce transaction and requires further interaction with the customer before the transaction can be completed.
- Good option if you are just starting out and want to first concentrate your efforts on marketing and getting traffic to your website before builing up to levels 2 or 3.
Overview of Level 2
- No bank setup fees, ongoing monthly fees or transaction fees.
- No big difference to the customer, the transaction is just processed a little later.
- Good option if you do not have a high volume of transactions every day.
- Good basis from which to build to level 3 at a later stage.
Overview of Level 3
- Transaction fees will be charged for every transaction that is processed (banks will also charge setup fees and ongoing monthly fees).
- Credit card details are verified before processing - i.e. customer has enough credit, card has a valid number and expiry etc.
- Transactions processed in 'real' time - money comes out of customer's account and into yours instantly
- Good option for high volumes of transactions
