Merchant Accounts vs. 3rd Party Biller

Our company has processed with both third party processing and we have our own merchant account. I personally go with the third party processing even though the cost is higher but with a merchant account you need to have a person dedicated to it, managing the accounts, following up with the chargeback, monitoring the chargeback ratio and so on…
It is true that with your own merchant account you have more control on your DB and you can save on fees but down the line if you lose your merchant account you are not only losing on the processing but it will affect your company’s reputation.

You can still get a merchant account in some instances - it all depends on your needs, location, etc.

One thing to keep in mind about Netbilling - they are only an electronic payment gateway.

A lot of times - third party is the best way to go, but sometimes you do not even have to pay the high registration fees imposed by Visa & MasterCard since that is only on North America. Some companies also have some higher application fees (about $500-$1000) to "make up" for the registration fees. And then there are some who will move you to your own MID & TID after a few months of processing on their third party platform

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Originally posted by IntenseCash.com
Great info here everyone. I have some questions..

We had our own merchant account in 1996 and lost it due to high chargebacks but it doesn't seem like we were ever blacklisted. How can you check if you are on that list?

Mitch can you tell me how much are your fees and do you have to yield the same chargeback level as 3rd party billers?

Thanks,
Mark

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Hi Mark,

We can check to see if you are on the TMF list. We charge only 1.5% and 15¢ per transaction plus merchant account fees.

Please contact me to proceed.

Thank you, Mitch Farber