The Best Payment Processors to Accept Payment on My Website

According to a recent survey, Flagship Merchant Services was rated
as the number one payment processor for online payment acceptance
facilities. They were followed by Merchant Warehouse, goEMerchant
Merchant Accounts, Chase Paymentech, Merchant One, The Transaction
Group, Merchant Accounts Express, First Data, Gotmerchant, and
Electronic Transfer Inc to complete the top 10 payment processors in
that order for 2010.The review and results were based on the following
factors:1. Ratings2. Application Process3. Fees4.
Transaction Fees5. Features6. Fraud Protection7. Accepted
Credit Cards8. Help/Support1. Ratings: Every company was rated on
the following parameters: average approval rating, cost per month
(based on the reviewer's own formula), start-up cost, account setup
time, customer service, Internet-based features, and P.O.S or
Swiper-based.2. Application Process: All the payment processors except
Merchant Warehouse, The Transaction Group, Merchant Accounts Express,
Gotmerchant, and Electronic Transfer Inc. provide digital application.
Average approval rating varies in the range of 95% to 99% amongst the
top 10 and account setup time is in the range of 0 to 3 days.3. Fees:
Monthly fees are of 3 types: gateway fees, which are in the range of
$9.00 to $19.95, statement fees from $5.00 to $10.00, and monthly
minimum fees from $15.00 to $25.00.4. Transaction Fees: The lowest
Internet-based fees of $0.20 are charged by Merchant One and The
Transaction Group, while lowest retail fee of $0.19 is charged by
Merchant Accounts Express.5. Features: Features, like virtual
terminal, payment gateway, merchant account, P.O.S credit card swiper,
e-check, shopping cart, and recurring billing, are commonly found
across all processors. Account clearing is done within 1 to 3 days.6.
Fraud Protection: Fraud verification features, like address
verification, real-time processing, SSL, and CVV2, are provided by
every processing merchant.7. Credit Cards Accepted: All the leading
credit cards are accepted by these payment processing companies. Visa,
MasterCard, American Express, Discover, and debit cards are just some
of the examples.8. Help and Support: It is very important to choose
the right payment processing company by the kind of post-sale service
they provide. Companies like Merchant Warehouse, goEMerchant Accounts,
and First Data score very high on parameters like 24/7 support,
toll-free phone numbers, e-mail, fax, and live chat (online).Companies
that have topped the latest survey are generally found to have a
paperless application process, approval rating of 98% or more, several
gateway options, no annual contracts in some cases, and lower
transaction fees.