[CLUE-Tech] Question about accepting online payments

[Jeff Cann]

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On Saturday 07 August 2004 9:52 pm, Gary Threlkeld wrote:
> If someone could point me in the right direction, I'd appreciate the help
> to get us started.

I have built systems that used merchant account processing software and 
PayPal.  Both have advantages and disadvantages.  At this point, I would 
recommend PayPal.  You can create subscriptions for your HOA members that 
will be automatically deducted from their choosen method of payment:  bank 
account or credit card - on an ongoing basis.

The nice thing about PayPal is that they worry about all of the security and 
credit card processing.  Once a subscription is created, the HOA member sends 
money to your HOAs PayPal account - an escrow account.  From it, you can then 
transfer money to the HOAs bank account.  It's simple and easy to use.  They 
also have excellent developer documentation.

Of course, there are transaction costs.  In fact, PayPal is more expensive per 
transaction than if you set up your own merchant account to use a credit card 
processing module.  So, to use PayPal is to trade convenience for higher 
transaction costs.

OTH - If you had a lot of transactions like a large e-commerce site (e.g., 
Target.com), you would go with a customised solution, using your own merchant 
account(s) - because the setup and customization costs are paid for by the 
lower per transaction cost.

HTH-
Jeff

- -- 
"Faith that does not affect a person's culture is a faith not fully embraced, 
not entirely thought out, not faithfully lived."
- - Pope John Paul II

http://isuma.org/


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