Singapore Expats Forum

Online payments for web-shops

Discuss about the latest news & interesting topics, real life experience or other out of topic discussions with locals & expatriates in Singapore.

IOP
Regular
Regular
Posts: 112
Joined: Sat, 21 Aug 2010

Online payments for web-shops

Postby IOP » Sun, 22 May 2011 5:23 pm

hi guys,

we are planning to organize a small web-shop: small used books.
What is the best way to take payments? we are officially registered in Singapore
I have looked at Pay Pal, but they charge 3.4% from the deal - too much.
What will be your advices.

Thanks.

beppi
Manager
Manager
Posts: 1752
Joined: Thu, 07 Sep 2006
Location: Ahlongistan (O$P$)

Postby beppi » Mon, 23 May 2011 12:47 am

Big customer with lots of turnover (and willing to pay high upfront fees of several thousand dollars) can get a payment gateway directly from certain banks where they pay only 1.5 - 1.8% (or so I heard) or each transaction.
If you are not in that category, Paypal is the cheapest you will find.
If your business model does not allow a deduction of 3.4%, you should reconsider your plans, because you will not succeed!


  • Similar Topics
    Replies
    Views
    Last post

Return to “General Discussions”

Who is online

Users browsing this forum: No registered users and 3 guests