THE NETHERLANDS | About-Payments - the international platform for merchants looking to accept payments online - launches a new service that enables e-commerce merchants to compare online credit card processors on pricing, features and contractual conditions.
The service is now available to Dutch and Belgian web shops and intended for start-ups ànd websites already accepting credit cards. In the coming months the service will launch in other European markets.
About-Payments ‘Marketplace’: the comparison website for online credit card processors.
Within the new About-Payments section called ‘Marketplace’, online retailers and businesses are able to request custom proposals and compare credit card fees from almost every credit card processing company with operations in Europe. The free-of-charge service is now officially open to online merchants based in the Netherlands, Belgium and Luxembourg, regardless their product, service or size. Introductions in other European markets are scheduled for later this year.
Credit card rates go down.
The reason for launching a comparison website for debit- and credit card fees is two-fold. First of all, the number of European debit- and credit card processors has increased. Europe-based credit card processors expand their operations through Europe, merchant acquirers from other regions enter the European card market and more and more Payment Service Providers are now able to process and settle credit card payments. Secondly, the card processing costs that banks charge each other – so-called interbank or interchange fees - will go down due to pressure from European regulators.
Increased competition and lower interchange fees result in lower credit card commission rates charged to merchants. Online shops and websites taking payments are now able to benefit.
“Credit card charges to merchants will go down”, says Bob Manni, founder of About-Payments. “Both MasterCard and Visa have recently announced to lower their interchange rates – one of the bigger cost components charged to merchants. Unfortunately many merchants are not aware of their cost saving opportunities. Our new service now simplifies the process for every single merchant to investigate cost savings and better conditions. It is free of cost, without any obligation and fully transparent.”
Besides pricing, the new Marketplace service will also compare online credit card processors on payment platform features, services and contractual conditions. “Every card acquirer has its own unique selling points”, Bob Manni continues. “One card processor is able to set-up merchants within 24 hours, another one is able to settle payments the next day and to offer 24/7 customer support. All aspects will be taken into account when comparing these best-in-class card processors. It is up to merchants to choose and pick their best matching processor.”
Debit- and credit cards are still the number one online payment method. In some of the bigger e-commerce countries like the UK and US, cards still are – by far - the most popular means of online payment. Even in countries with strong local payment brands like iDEAL in the Netherlands and Bancontact / MisterCash in Belgium, credit cards are in second place and remain crucial for high conversion rates on desktop and mobile.
Merchants that accept credit cards online normally pay a commission – a percentage of the transaction amount – to the card processor. The total costs for credit card acceptance can be substantial – especially with larger purchases. “Almost every merchant that tested our Marketplace was able to get lower fees resulting in substantial cost savings. From hundreds to thousands of euro per month”, says Bob Manni.
“About-Payments aim is to simplify payments for online merchants and allow them to grow their business. Therefor, our new service has definitely been developed to save time and costs, and to increase their profitability”, says Erik van den Heuvel, co-founder of About-Payments.
How does the Marketplace service work?
It is a very straight forwarded service: the merchant creates an account, answers a couple of questions and indicates which credit cards he or she would like to accept. “Then we will do the matching of card processors - depending on their acceptance criteria and merchant profile - and request custom pricing proposals”, says Erik van den Heuvel. “Within days we are able to compare pricing and conditions, allowing the merchant to make a well-thought decision.” The Marketplace website is fully responsive which allows for account creation on mobile and tablets within just a couple of seconds.
The advantages of credit card acceptance.
Besides providing a comparison service, the Marketplace also explains to e-commerce start-ups the advantages of accepting credit cards and how websites can accept credit card payments. Whether these businesses are looking to take payments via their website, for purchases over the phone (Phone Order), catalogue order (Mail Order) or by means of invoicing.
From beta to international rollout.
The launch of the new Marketplace service results from About-Payments’ mission to simplify the search for the right payment solution, methods and providers for online merchants. The service will be rolled out to other European countries like the United Kingdom, Germany, France and the Nordics, later this year.
As of now, the service has been pulled out of beta for Dutch and Belgian ecommerce merchants. In the coming months, we will work hard to further improve the whole user experience, to even further simplify the process and launch the service in other countries”, Bob Manni concludes.
Visit the About-Payments Marketplace
Please take a look at our Marketplace (available in English and Dutch) for the acceptance of credit cards and to start comparing online credit card processors.
Or visit our website: https://www.about-payments.com
Here you can find the Dutch version of this press release: 'About-Payments lanceert vergelijkingssite voor creditcard tarieven'.
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About-Payments | Your Source for Ecommerce Payments.
About-Payments was founded in August 2012 with the ambition to create a worldwide platform where online businesses can search and find the right online payment solution, follow the latest online payments news and trends and learn more about payment culture and ecommerce markets.At the same time, About-Payments aims to provide payment providers and methods the platform to cost-effectively showcase their products and value added services to a relevant audience of online merchants. About-Payments has world’s largest searchable database of over 400 Payment Service Providers and over 150 online payment methods.
The About-Payments platform attracts more and more visitor each day and already welcomes over 20,000 visitors per month – from all over the world (+190 countries).
About-Payments website and Social Media
Note for the editors
For questions please contact:About-Payments.com B.V.
Erik van den Heuvel, Marketing Manager
Phone: +31 30 755 5339