HSBC Merchant Accounts
If you want to start taking card payments either face to face or online, you need a merchant account. Various providers offer different merchant service packages at varying prices. To ensure your success, you need to find the right service for your business.
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HSBC has high merchant account setup fees but offers a wide range of options for setting up business websites and receiving all kinds of payment. Its gateway integration system is also known for involving somewhat convoluted processes. In fact, some customers have reported having transactions held up for as long as 20 days. Its merchant account services also require monthly management fees but it does provide a variety of discount offers and negotiable fees, depending on your specific business requirements.
Compared with the top-ranking merchant service provider in the UK today, which offers a monthly account fee of £4.94, HSBC offers a fee of £6.22. It also offers a lower monthly gateway fee of £3.11, as opposed to HSBC’s £6.22.
Accepting card payments
HSBC’s merchant services allow your business to accept credit and debit card payments, enabling your business to grow by offering your customers a full selection of services. With them, you can securely accept payments online, face to face, by phone, by mail order or by fax. It provides award winning protection against card fraud to keep your business protected.
HSBC uses Global Payments’ Global Iris service, a complete online payment service that includes a merchant account and an online payment gateway solution that is not just for buying online but also for giving you access to all sorts of payment processing options.
Global Iris uses the power of the Internet, allowing you to access solutions without installing any software. It supports telephone sales by using a simple online terminal.
Because the Global Iris Virtual Terminal is web-based it can be conveniently accessed without any integration. It works for both small businesses and large corporations, as it allows you to upscale your user number from one to several hundred.
Global Iris Re-direct, meanwhile, allows you to get online payments as quickly and easily as possible. You can easily bring your customers from your shopping basket page to Global Iris’s customizable payment page then back to your site once the payment has been processed. It then passes the transaction results to your system.
If, however, you need full ownership and control of online payment acceptance, you can avail of Global Iris Remote. Everything takes place on your website, with XML messaging happening in the background. Global Payments also has a technical team that provides invaluable guidance and support every step of the way.
In terms of processing, Global Payments does not require address and CVV2 verification even though it provides e-check and merchant account as well as POS terminal provision. It does, however, not offer an online shopping cart, real-time processing, recurring billing and SSL services. But it does offer better credit and debit card retail and online discount rates as well as better credit and debit card retail transaction fees.
Global Payments supports the Authorize.net gateway option and accepts American Express, Discover, Mastercard and Visa cards. It specialises in work for businesses in the B2B and government sectors. It does, however, not offer month-to-month contracts unlike its top-ranking competitor. Finally, it offers support services via email and live chat.
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