Our credit card processor recently did another trick on us, started to charge the highest discount rate on charges people do using dividend type cards! Well, we decided that we had had enough of it and have switched to use PayPal instead. They now allow your customer to pay with a credit card without a PayPal account so there is really no difference for the customer other than that he of course also has the option to use his PayPal account for the payment!

We no longer have any monthly fees and minimums or charges on failed transactions to deal with, PayPal only charges for completed transactions and if you credit the transaction within 60 days they credit the transaction fee too!

The fee is 2.9% + 30c, but it quickly drops based on volume. You can also get interest on the balance in your account (at the high end of what you can get for money market accounts) and you can also connect a Visa card to it and get a 1% cashback on everything you charge. Normally payments are immediately available, no daily settlement and no waiting for money to arrive in your account. They claim that a transfer to your bank account takes 3-4 business days, but it has only taken two days for us so far.

If you want to process payments directly on your website, you can instead use Website Payments Pro for a fee of $30/month, which also includes a Virtual Terminal for manual entry of credit card charges. Discount rates etc are the same and there are no monthly minimum fees.

To sign up and get started with accepting payments using PayPal, click this link: