Safest way for buyers to pay?

Empulse · 22-01-2006, 05:42 PM

I've some customers who would like to buy iPods Nano's from me, however they buy quantities of 100 and above.

Now they want to know the safest way of paying me.
I thought about CC, however this is quite risky for me, if there's a buyer doing a chargeback without my knowledge and without any proper reason I'll lose a lot of money.

Please advise.

taabish · 22-01-2006, 05:50 PM

You could always dispute the chargeback, im sure you'll have documents proving you sent a customer their items.

Besides CC, there is paypal but obviously still open to chargebacks. Your buyers arent likely to think that bank transfers are safe so thats out of the question. Short of them collecting and paying cash i cant think of anything, maybe Nochex for UK buyers?

Empulse · 22-01-2006, 05:53 PM

Thanks,

My buyers generally aren't from the UK, but from the EU mainland.
I won't use Paypal, since I only hear negative things about it, though I've never really used it for business purposes.

I want to give my customers the best service possible. By the way, maybe a kind of stupid question, but how do you receive CC payments (with mastercard)...?

**Anthony** · 22-01-2006, 05:53 PM

If you could afford it then L/C would be a possibility..

Usually considered for higher quantities but is one if not the safest payment method. Failing that, what about escrow?

HTH

taabish · 22-01-2006, 05:57 PM

In order to receive CC payments you'd need to get a merchant account from a firm such as www.protx.com, www.worldpay.com, www.secpay etc.

Depending on the firm, they may have a one-off set up fee and then charge you per transaction, or they may have a monthly fee and no charges per transaction.

I've heard good things about protx so maybe check them out first as their charges are supposed to be very reasonable.

Empulse · 22-01-2006, 07:03 PM

Thanks guys, I'll contact my bank for L/C, however I assume it's too much hassle and too expensive for these relatively small orders.

TTTrades · 22-01-2006, 08:54 PM

Having a buyer/seller contract can eliminate the chargeback risk. They can be penalized for early or unauthorized chargeback's. But this also may put you on a time table!

**double_d77** · 22-01-2006, 09:34 PM

Quote:

Originally Posted by taabish

In order to receive CC payments you'd need to get a merchant account from a firm such as www.protx.com, www.worldpay.com, www.secpay etc.

Depending on the firm, they may have a one-off set up fee and then charge you per transaction, or they may have a monthly fee and no charges per transaction.

I've heard good things about protx so maybe check them out first as their charges are supposed to be very reasonable.

You could also try and get verified by Visa/Mastercard. AS can't remeber which one it was on but if you can and you can jump through hoops when your customer(s) use it (not that many tho!) then they will protect you from chargebacks!!

Dave

guru4us · 22-01-2006, 09:43 PM

not sure how exactly the following works but search/google:
DAA (documents against acceptance)

Its not like L/C but offers the security similar to it as far as i understand. It cant be implemented in every scenario though..like our group buy.

**Anthony** · 22-01-2006, 11:29 PM

Quote:

Originally Posted by taabish

In order to receive CC payments you'd need to get a merchant account from a firm such as www.protx.com, www.worldpay.com, www.secpay etc.

They are payment processors. You will not be able to use the above companies without some form of merchant account with your bank.

They are just companies who can handle checkout processing ect.. you do need a merchant account with your bank first.