Share experiences with RS Marketing

[Matt]

Hi all,
I want to enable my site for real-time credit card processing and am currently looking at internet merchant account providers with real-time credit card processing ability. RS Marketing/ aka MerchantQuest/ aka the internet merchant account provider partnered with FutureQuest offers what I am looking for, however, $50 a month seems like more than I should have to pay ($10 a month seems standard). Can  anyone share their experiences with either RS Marketing or another provider, e.g. support, reliability, fraud screening, etc., etc. Also, any good web sites that compare/ rate internet merchant account providers?

Any help is very much appreciated- Matt

[Tatu]

I just read http://www.marketingtips.com/creditcards/ and they seem to be offering really good rates. I haven't really looked at RSMarketing or anyone else for that matter, but from what I hear on forums the offer at marketingtips is "extraordinary". I'd love for someone like Rich to comment on it because a lot of us don't know what to look for/look out for.

<ramble mode on> I have a bone to pick w/ Corey Rudl (of marketingtips.com) because when he sells something he oversells it incredibly. I just get a dishonest feeling from him like he's using his marketing guru power for quick buck... The products/services he sells are only worth your buck a little more than half the time. <ramble mode off>

Oh I wish I had more time right now to implement the business plans fermenting in my head...

-Tatu

--
I'm inundated with life all of a sudden.

[Rich]

First, let me make sure that I clarify that:

RS Marketing == Rich Shockney

I won't comment regarding RS Marketing rates vs. the rates offered by marketingtips.com, or any of the other thousands of resellers for Total Merchant Services or any of the million other rates advertised on the Web. I believe anyone investigating merchant accounts can collect the data and compare the rates for themselves.

However, to help you *equitably* compare these rates, I offer the following guidelines:

-- Just as a checking acount is a checking account is a checking account, all merchant accounts are just another type of bank account. The two primary factors are (1) the fees you pay, and (2) the level of customer service you receive.

-- Regarding customer service, I believe this is the most important factor to consider. Remember that you are placing your Internet livlihood on the line with your merchant account. If your account suddenly &quot;stops working&quot; your site is dead, you have no cash flow, and you are out of business until you get the problem resolved.

-- Make sure you obtain all the rates and fees that the provider and the acquiring (merchant) bank charge. This includes not only setup fees and transaction/batch fees, but also monthly gateway fees, chargeback fees, overlimit fees, etc., etc. The best way to do this is ask them to send you a copy of the contract and READ IT VERY CAREFULLY. If you do not understand anything, ask for clarification.

-- Once you have collected this information from 2-3 providers, sit down and review the information. Your decision will be much easier with this data in front of you.

Regarding the $8-$10 you see so prominently displayed by many for the monthly cost of a merchant account, remember that this is usually the 'statement processing fee' that the bank gets for managing the account. Most banks also have a minimum transaction fee that must be accounted for also. Then, don't forget to tack on any additional monthly fees for extra services you need, like real-time processing. This is not typically included in advertised rates.

Rich
RS Marketing
-- It's all in the fine print...

[Matt]

Thanks for the advice/ info. In response to Tatu, I am a bit skeptical of a web site that sells itself on the testimonial of a single person, regardless of how influential such a person is. One good experience is not necessarily indicative of the majority. That is why I am still hunting for a comparative review site, so that I can read the experiences of the majority in helping to decide which gateway(s) to use/ choose from, which merchant account provider(s) to use/ choose from, and the capabilities of the shopping cart software available.

One question that perhaps you can help me address, Rich, is whether I need to purchase shopping cart software or whether I can write my own. Do gateways typically provide the details on &quot;software hooks&quot; so that I could write my own software. I would guess that gateways differ in the amount of tech support they offer/ ease of incorporating gateway into shopping cart software.

Thanks

[Tatu]

Great stuff, Rich. See! I wouldn't have even known to ask about monthly gateway fees, chargeback fees, overlimit fees, and extras like real-time processing. Thanks for the heads up on what to look / look out for.

In response to Tatu, I am a bit skeptical of a web site that sells itself on the testimonial of a single person, regardless of how influential such a person is. One good experience is not necessarily indicative of the majority.

Exactly, especially when that one person is some one who over sells anything and everything... which is why I asked Rich the Guru for some basics.

--
Go, knowledge.

[Rich]

...whether I need to purchase shopping cart software or whether I can write my own.

Although you could roll your own shopping cart, I wouldn't recommend it. If you really need the capabilities that commercial carts offer, you could spend a year or two trying to even come close to the features and fuctions they include.

However, if you don't need the complex cart functions but want more than simple forms, this is certainly an option.

The best gateways for developer integration are (in order of power/flexibility):

CyberCash - requires installation on your site, also has the steepest learning curve with lots of documentation (over 1000 pages)

Authorize.Net - skimpy documentation, but sufficient

Rich