Attention Sellers: Payment Processing Poll

[admin]

If you’re a panty seller, please take a moment to vote in the new poll located in the upper right-hand side of the main page. Your feedback is very important and appreciated.

Thanks!
PK  😉

[Cindy_PantyParadise]

Hmmm .. I cant vote because I need more information?

I would be far willing to pay more fees if the client didnt have to sign up and go through a stupid card verification check to join or open an account just to pay!

However, if the client did have to sign up first with a processor then even the lowest option of 8% is alot.

If the client just could pay immediately and not worry about joining anything and all that jazz then Id personally be willing to part with between 10-15% per sale (but Im not expecting to be charged for withdrawals on top of that)

My main focus is for the clients ease of payment but we also have to be realistic – 20 pounds or so for 24-48 hours work is not a lot and if the fees are going to be high, then most sellers will need to raise their prices to cover their costs.

Sorry I cant vote without more info 🙂

Love CIndy x

[Annie]

I agree with what Cindy said. I am fairly new to this business, just a few months and have to say I couldn?t believe how hard to was to find a online processor that accepts our type of service.

With regards to the pole as the question stands I think it obvious that most people would say 8% but there is a lot of info required first to get a true opinion like as Cindy said what would the payment process for buyers actually be, then there’s charge backs and what would be in place to help prevent those and are their any hidden fees or time restraints on accessing the money etc.

For buyers to be able to pay for items straight away and no other charges for the seller, monthly fees and transfer of money etc. I think a !0% flat fee would be fair, But at the end of the day I?d still have to read the small print first!!!

Annie

[admin]

In this hypothetical situation, we’re talking about a payment service, not a merchant account. Having a merchant account gives your buyers the easiest checkout. They enter their creditcard info and they are done. However, the lack of privacy and the costs associated with a merchant account are generally far too high and impractical for the average seller. A merchant account requires that you first apply and get accepted by a bank (credit worthiness check). Then there is a monthly fee that you pay for just about every piece of the process, IE. general use fee, billing statement fee, a fee if you don’t sell a certain minimum amount, terminal fee, etc. These fees are on top of the percentage that they will take on all payments made to you. As a “high risk” merchant (the bank’s talk, not mine), you will pay a much higher percentage on each transaction than a guy selling non-adult goods. In addition, the merchant account provider won’t release any money to you until you have built up the reserve accounts that they require for coverage in case of charge backs (you also pay a fee for these) and such.

So for the purposes of this poll let’s assume we’re talking about a Paypal-like third party payment solution. In this hypothetical scenario, you, the seller, have an account on the system. Buyers can pay directly to your account with their creditcards without an account, but accounts are as easy to set up as on Paypal. If the buyer does have an account, they can then transfer money in their account directly to your account. The buyer’s account can be funded by creditcard, bank transfer, billed to their telephone, or mailed in check.

Let’s also assume that this is a payment system that is designed from the get-go for panty sellers. Once a buyer or seller opens an account, they’re good to go for the long haul. Threats and disappointments of closed accounts and dropping of adult payments are eliminated because this payment solution didn’t hide the fact from the associated bank that adult items were involved. One of the most most popular billing systems for adult sites is CCBill. Unfortunately, you can’t use them for selling physical objects, just for things like access to membership areas to your site, etc. Their flat fees range from 14% to 35% of each transaction, this seems very high, but reflects the fact that they are paying a premium to the bank for processing “high risk” transactions. It costs more to use them, but since they have set up to take adult payments with the bank, webmasters don’t have to worry about them dropping adult payments. I don’t know any of the inner workings of the payment processors that keep dropping adult transactions, but I would imagine that the trouble stems from them initially setting up their service with a bank under the guise of taking general payments. Once the bank finds out that they are processing “high risk” transactions and not paying the associated premiums, the shit hits the fan.

[jazzy]

As a buyer,i would not use an auction site simply because you have to join to access the site.
Therfore if i had to sign up just to pay each transaction,as suggested i would have to look elsewhere.
What the buyer wants is to place an order,pay on ordering and have no more to do than wait for my order.

I know this subject is mainly for the sellers but do also remember the buyers.

Just my opinion. :rolleyes:

:laugh:   Jazzy    :laugh:

[admin]

[quote author=jazzy link=topic=774.msg4717#msg4717 date=1138819238]
As a buyer,i would not use an auction site simply because you have to join to access the site.
Therfore if i had to sign up just to pay each transaction,as suggested i would have to look elsewhere.
What the buyer wants is to place an order,pay on ordering and have no more to do than wait for my order.

I know this subject is mainly for the sellers but do also remember the buyers.

Just my opinion. :rolleyes:

:laugh:   Jazzy    :laugh:

Hi Jazzy,

Buyer’s opinions are important. Actually, the sellers who responded have shown their concern for buyer’s ease of use. Any buyer is invited to chime in on this discussion.

I just want to make it clear though that if the “perfect” hypothetical payment processor we’re talking about did have the ability to let buyers open an account, it would be a one time deal. Once you joined, you’re all set. You wouldn’t need to join every time you paid someone. Tell me more about how you’ve paid in the past if you won’t use a payment service that asks you to register. You’ve never used Paypal, NoChex, PPPay or the like? Do you just snail mail checks or a money order?

[admin]

[quote author=Annie link=topic=774.msg4715#msg4715 date=1138809110]

With regards to the pole as the question stands I think it obvious that most people would say 8% but there is a lot of info required first to get a true opinion like as Cindy said what would the payment process for buyers actually be, then there’s charge backs and what would be in place to help prevent those and are their any hidden fees or time restraints on accessing the money etc.

For buyers to be able to pay for items straight away and no other charges for the seller, monthly fees and transfer of money etc. I think a !0% flat fee would be fair, But at the end of the day I?d still have to read the small print first!!!

Annie

We’re talking about ideas for a hypothetical,  ideal solution so instead of “what about”, let’s say “it would have to have”. So we’ll say that this ideal payment solution would be backed by the financial arm of one of the most recognized and trusted companies in the adult industry, and all chargebacks, fraud, and similiar problems would be handled by them, with no additional fees to you. The flat percentage is what you pay, period.

[jazzy]

Dear P K,
As a buyer,i used Nochex which did not require any sign-up so was quite simple but now i use bank transfer,which is ideal to both buyer and seller and is very secure.I know not all buyers will like using their bank ,so its up to the buyer and seller to find a suitable solution to satisy both their needs.If like me you have a good seller i’m sure something can be arranged.
Best wishes to all at Panty Hog.  smt

              :laugh:  Jazzy    :laugh:

[brit_chick]

Hi i’m new here, I’ve not got my own site yet but i’m thinking of making one so i’m looking for a suitable processor for when I do. I’ve read your posts with interest and this hypothetical payment solution would be pretty cool if it existed.

Credit Card billing, no need for a Merchant Account, fraud protection, no charge backs AND it could be used for adult related transactions, great stuff!

So you asked what else would it “have to have”? Well there isn’t much you haven’t covered lol! So soz if I repeat anything, my have to’s would be all of the above plus…

Instant card verification with no sign up required for customers.
Both Credit card and Bank Transfer facilities.
Support multi currency. (? $ E)
Modules for selling both physical and non physical goods for those with membership or password protected areas.
No yearly/monthly fees just a charge per transaction basis with a few pence on top to cover chargebacks for sellers (a bit like what were used to).
With the ability for webmistress to withdraw/request their funds via Cheque or Bank Transfer to ANY country. ( preferably without really high transfer fees).

🙂 Simone

[cherie]

I didn’t vote in the poll PK because I too felt the need for more information, but now that you’ve given it…

My ideal payment processor for panty (and other physical merchandise) sales would definitely make buyer convenience the primary factor.  Am I understanding correctly that you have proposed a system where buyers can make a one-time credit card payment without having to go through penny-check verification etc OR (if they plan to use the system regularly) they could do the verification, have a permanent account, and either use their credit card for sales or fund it from a bank account?

If there were such a system, with the policies regarding chargebacks, adult merch, etc as you have outlined, I would be pretty happy to pay even 25% for the non-verified sale.  I would be even happier if the verified (accountholder) sales were more in the 10-15% range.  (Although lower is always better, of course!)  And I’d really like there to be NO extra charge for direct depositing withdrawals to my bank account – I hate having to pay to get my money when I’ve already paid a transaction fee.  (I’m ok with a small fee for a mailed check, to cover the extra costs.)  Add multiple currencies to that and I think it pretty much sums up my ideal payment processor.

xox
Cherie

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