![]() ![]() On top of the basic cost of using each system, some will also charge extra for things such as chargebacks (when the customer complains to their bank about a fraudulent charge and the bank reverses the payment) and payments from international cards. Systems that charge a monthly fee and a charge per transaction are also more suitable for larger businesses. As a larger company, a fixed monthly fee may work out cheaper than paying for each transaction. For example, if you’re just starting out and have a low volume of sales, a payment per transaction may work out better so that you’re only paying when someone makes a purchase and you don’t have a monthly bill to pay regardless of how many payments you’ve processed. You’ll need to spend some time calculating how many transactions and how much money you’re hoping to take and work out which kind of price structure will work best for you. ![]() The price varies between systems and can include set up costs, monthly fees, a fixed fees per transaction or variable fees based on a percentage of each transaction. One of the most important factors will be the cost of your online payment system. We previously covered the different online payment systems that you can choose from here, and now we’ve taken a look at what things you need to consider before choosing an online payment system. When you’re setting up your own ecommerce website one of the most important decisions you’ll make is which online payment system you use. ![]()
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