My Merchant Account Blog

Introduction to Merchant Account Fees

Wednesday, August 18, 2010

Comparing Electronic Payment Gateways

Monday, August 09, 2010

Years ago, we wrote an article Electronic Payment Gateways Compared.  We still stand by our professional opinion that no one can write an article comparing the electronic payment gateways unless those gateways are being used.  And when that article was written, I hate to admit it, but we were still using the LinkPoint (aka First Data Global Gateway) as an electronic payment gateway.  We stood by them when First Data decided to re-build the gateway from the bottom to the top.  We were promised more options to help reduce chargebacks - that did not happen.  We stood by them when they renamed LinkPoint to the First Data Global Gateway, once again being promised options to help reduce chargebacks.  And of course, that promise was broken as well.

Fortunately, we came to our senses and found a better electronic payment gateway named the Quantum Gateway.  This gateway was built with the Internet merchant in mind.  Preventing chargebacks was on the top of the list.  Chargebacks cost everyone money, thus increasing fees to the merchant account providers, the merchants, and finally the consumers.

Quantum Gateway

Unlike most other electronic payment gateways that charge a monthly fee or maybe even a transaction fee, the Quantum Gateway does not.  That's right, you read it correctly, they do not charge a monthly fee or a transaction fee.  They off a virtual terminal, batch uploading, virtual checks, and a virtual terminal accessible via a WAP enabled phone.

More Security Features

Unlike most other electronic payment gateways, the Quantum Gateway does not charge the merchant for storing credit card numbers.  Storing credit card numbers is risky on the Internet, but if you use the Quantum Gateway to help store the credit card numbers, this helps to take away a lot of that risk.  You can also use the Quantum Vault for recurring billing. 

Besides Address Verification Service (AVS), the Quantum Gateway has also added:

• Dial Verify - a system that automatically will call the customer during the checkout process, thus verifying the phone number.  You can use default recordings or upload your own recordings.  If you need a professional voice talent, we recommend Lynn Brooks.
• MaxMind - a scoring system to help you decide if the transaction needs to be vetted more, approved, or declined.
• Verified by Visa / MasterCard Secure Code - this system will help prevent some chargebacks based on the merchant's location, consumer location, and card association

We made the change to the Quantum Gateway and we suggest you do the same.  They offer a test account so you can implement it before signing up as an Internet merchant.  We say this because we noticed about eighteen months ago, the LinkPoint gateway seemed to stop offering free test accounts, even though they still say it on their website.  We have made numerous attempts at getting a free test account from the LinkPoint gateway, Authorize.net / Cybersource, and the Quantum Gateway.  The Quantum Gateway was the quickest when we applied for a test account, with Authorize.net coming in a close second.  However, we never did receive a test store from the LinkPoint gateway.

First Data is laying off employees while the Quantum Gateway is growing.  So, what are you waiting for?  Check out the Quantum Gateway and get a merchant account today.