Choosing the right Merchant Account can make a big difference to your expenses when running an e-commerce store. Depending on the volume you do, PayPal and Google Checkout might work out quite expensive.
With a good merchant account you usually have to pay a monthly fee, but this often gives you a few hundred that are free of any other cost! For example, your average sale is £100 and with PayPal you spend 3.4% (£3.40p) + 20p = £3.60p to process the transaction.
Make 10 sales in a day and you’ve spent around £30 just on processing fees! Most merchant accounts start at around £20 – £30 per month give you at least 100 free transactions. Meaning you could save yourself a lot of money in the long run.
We’ve written an in depth UK Merchant Account Comparison that provides an in-depth explanation.