Payatrader payment processing

May 22, 2008
9,392
2,125
2,475
UK
Anyone else heard about Payatrader? I had an email yesterday and it looks interesting. Joining fee of £99 with transaction fees of 2.3 - 2.9% depending on weekly turnover. Slightly cheaper than Paypal. The bit that really interests me is the ability to take payments over the phone using a virtual terminal which Paypal charge £20 a month + fees for!

I'm tempted to register but the fact that its a new company is making me hesitant. Any thoughts?
 
May 22, 2008
9,392
2,125
2,475
UK
Update.

I signed up for a Payatrader in the end as I have lost a few customers in the past by not being able to take payments over the phone so I thought I'd give it a try. I have just had a customer visit our office to buy some stuff and used it for the first time to take their credit card payment. Its great - the virtual terminal is easy to use and I've been charged less fees than if I had used paypal!
 
Aug 28, 2010
1,229
211
625
UK
So is it similar to a PayPal account where the money goes into your account and you can then transfer to your bank account or does it go direct to a bank account?
 

shopafrolix

Banned Member
Oct 4, 2011
4,629
981
1,305
United Kingdom
things I picked up that I didn't like

1. 2.9% to 2.3% commission , I have visa provider charging a flat 1.6%
2. £99 to join, I paid nothing
3. 30p minimum charge, mine is 10p
4. Refunds charged at 2%, mine is free
5. Money settled every Tuesday, mine is every 2-3 days

That I liked,

1. Customer can log in and pay - like paypal, my customers have to be present or telephone in
2. Its mobile - mine is confined to my shop
 
  • Like
Reactions: Dean
May 22, 2008
9,392
2,125
2,475
UK
things I picked up that I didn't like

1. 2.9% to 2.3% commission , I have visa provider charging a flat 1.6%
2. £99 to join, I paid nothing
3. 30p minimum charge, mine is 10p
4. Refunds charged at 2%, mine is free
5. Money settled every Tuesday, mine is every 2-3 days

That I liked,

1. Customer can log in and pay - like paypal, my customers have to be present or telephone in
2. Its mobile - mine is confined to my shop
Yes I think this solution is aimed more at smaller companies.

Who was other deal with mentioned in your first few points? Do you pay a monthly fee? Sounds good.
 
May 22, 2008
9,392
2,125
2,475
UK
So is it similar to a PayPal account where the money goes into your account and you can then transfer to your bank account or does it go direct to a bank account?
They transfer funds (minus fees) to your bank account once a week.
 

shopafrolix

Banned Member
Oct 4, 2011
4,629
981
1,305
United Kingdom
No, but minimum transaction fees are £15, but I'm always way over that anyway. I went through Elavon
 
May 22, 2008
9,392
2,125
2,475
UK
No, but minimum transaction fees are £15, but I'm always way over that anyway. I went through Elavon
OK, probably a few too many restrictions for my needs but thanks for the info anyway.
 
May 22, 2008
9,392
2,125
2,475
UK
however I quite like paymentsense, they have an interesting pricing strategy, I would check them out.
There are no prices quoted on their website so I assume they tailor individual quotes to each customer. It does mention about monthly fees for hiring a terminal though so probably still not cheaper. I'll give them a call as they say they offer a price match guarantee.

*edit* - although their transaction fees are good, there is a £10 a month terminal fee. These sorts of solutions are probably great if you have a high number of credit card purchasers but would currently work out more expensive for me.
 
Aug 26, 2012
1
0
227
64
Hi Lovinit
I got an email recently about Payatrader. I run a small business and would like to be able to take credit and debit card payments over the internet or face to face. There wouldn't be many transactions each week so I don't want to pay a monthly see. Did you sign up to Payatrader? How did you get on?
Thanks
Coralie
 
Jun 19, 2010
1,680
49
600
32
England
Hey,
I would just like to express a word of caution about customer not present transactions. Some customers pay this way and call their back to say it was fraud etc. Which the bank will issue a chargeback to you. IF you are taking payment over the phone not much you can do. However if the customer is on site then get a manual imprint machine, It uses special carbon paper and put the customer card details (front only) on the carbon paper and your merchant details onto it too. This will prove the customer was on site. You can also do this for manual autorisation. ie if your Virtual terminal is down, you should still be able to put a transaction through via the phone. - Your merchant should provide you with all this.

credit-card-imprint-machines-200X200.jpg
 
May 22, 2008
9,392
2,125
2,475
UK
Hi Lovinit
I got an email recently about Payatrader. I run a small business and would like to be able to take credit and debit card payments over the internet or face to face. There wouldn't be many transactions each week so I don't want to pay a monthly see. Did you sign up to Payatrader? How did you get on?
Thanks
Coralie
Sorry, I've only just seen your post (didn't get a notification for some reason). Yes I signed up and have used it several times now to take payments over the phone. I found it easy enough to use and potentially saved losing those particular orders. So far I can't see any problems with it.
 
Sorry, I've only just seen your post (didn't get a notification for some reason). Yes I signed up and have used it several times now to take payments over the phone. I found it easy enough to use and potentially saved losing those particular orders. So far I can't see any problems with it.

Hi Dean
Sorry to resurrect an old post, but i'm looking for a way of taking card payments and stumbled upon Paytrader. I did a search on here and found this thread.

I was just wondering if you are still using them and if so how it's going?

Thanks for your help
Eifion
 
May 22, 2008
9,392
2,125
2,475
UK
Yes, still use it regularly for all phone payments. Never had a problem with it at all. The fees are slightly lower than Paypal and they pay out on time. I still recommend it to people who are looking for a service.
 
Thanks Dean.

That'll do me then.

Eifion