Any Comments On Worldpay?

[freitag1]

They have a good promotion right now and I'm tempted to try them as a Paypal alternative for my online business. Can anyone tell me about their experiences with them and how you get your money transfered from them?

My current idea is to transfer the money I receive (which will be in Yen, Euro and USD) to multi currency accounts here in Thailand. So the money arrives here in one of these currencies and I exchange them for onshore rates.

Would be great to hear if anyone else has experience with them.

Edited October 9, 2007 by freitag1

[onethailand]

They have a good promotion right now and I'm tempted to try them as a Paypal alternative for my online business. Can anyone tell me about their experiences with them and how you get your money transfered from them?

My current idea is to transfer the money I receive (which will be in Yen, Euro and USD) to multi currency accounts here in Thailand. So the money arrives here in one of these currencies and I exchange them for onshore rates.

Would be great to hear if anyone else has experience with them.

I've contacted them in the past, but their fees were just too expensive. Otherwise I would definitely consider them - any chance you can point me to the promotion?

[itsbill]

I used them for years, the delay in payment is very unreasonable this is suposed to be to guard against chargbacks, but after years of not a single chargeback on my account i still had to wait nearly six weeks to receive the cash. There is a second problem the customers of places like ebay will not use it they think paypal is god and trust nobody else, which is totally unfounded but its hard to alter peoples mindset, I way prefer worldpay it is easy for client and owner but the two things above are giant hurdles.

[freitag1]

onethailand just go to their website. if you are in thailand you will see the promotion.

itsbill thanks for your experience. do you get the money sent to a thai account? any information how you do the transactions would be great. i also really don't like their retention period. i won't join them if they aren't able to give us a contract with 4 weeks retention period. we sell products that cost more than 100$ each and can't wait for longer then a month for our money.

we won't sell on ebay and have our own online store therefore we don't really need paypal (even though we offer it as second payment alternative due to its widespread use)

Edited October 9, 2007 by freitag1

[youngkiwi]

We have used Worldpay for coming up eight years, and have had no problems receiving remittance settlements from them. Their fees are higher than a merchant account at a bank, but they offer speedy setup and a convenient system which is easy to integrate into web based applications. From memory, their standard commission is 4.5% but if you have high volumes you can negotiate for a lower rate. The standard holdback on funds is one month. They have also announced a major upgrade to their systems in the near future. The only negative issue we have experienced is on the rare occasion we have had to contact their technical support via email, the response has always been slow. They offer excellent phone support however. Hope this helps.

[onethailand]

Don't see any promotion - and they want 3.95% plus fees - too much. And 4 weeks is not acceptable especially if you're doing high volume.

I have a US Paypal account so I can use that for merchant services, but I'd rather find something local for convenience's sake.

You might want to check out paysbuy.com and thaiepay.com if local solutions are acceptable to you.

[cmsally]

Has anyone had experience with thaiepay.com ??

[youngkiwi]

The holdback of a month has never affected us doing high volume. It shouldn't be an issue either for high volume traders who have sufficient operating capital. Worldpay is owned by the Royal Bank of Scotland, have a proven track record with thousands of customers and are not a fly-by-nighter provider like many of the third party processors who have had issues or have folded in the recent years. Despite their fees, I would highly recommend them if you're looking for reliability of their system and on-time settlements.

[onethailand]

No question that Worldpay is quite solid, as is RBS.

However, some products or services simply cannot afford to give away 4% plus fees - especially in large volume, and especially in Thailand and Asia. This is exactly why, when you try to purchase with a credit card in many shops, they tell you it will cost 3-4% more - because otherwise they would make no profit.

I would also try to avoid third-party processors without some sort of pedigree.

[youngkiwi]

For high volume, you can negotiate a lower fee. They don't advertise this but once you have a steady volume, you can apply to remittances for your commission fee to be reviewed. This can make a significant difference. Worldpay have a local office in Singapore which is the base for Asia/Pacific, including Thailand. We were offered a lower rate and simply had to sign and return the amendment document and return it to the Singapore office.

[freitag1]

Thanks guys, even though i heard some minor horrorstories in the webmasterworld forum I will give it a try. The problem is we won't put 1 million down for an merchant account in Thailand and from what I heard are the other Thai third party provider pretty unreliable.

Lets hope the application doesnt take ages.

[Rossi]

Hi,

I am currently applying for an account with Worldpay to receive credit card payments. The rates are quite good: 3,95% on Visa and Mastercard payments. Only 5250 Baht for the first year - very competitive! Its just really a pitty that they do not provide the German ELV, American Express and Diners Club in Thailand.

Anyway, the reason for this posting is that Worldpay needs a Bank Compliance Form signed and stamped by my bank. Today I went to Siam Commercial Bank and they told me, that they are not allowed to sign or stamp any documents but their own ones. That's a pitty as it seems that SCB has the best exchange rates and remittance will always be in a major foreign currency like e.g. USD, EUR or GBP. Do you have any experience which bank will sign and stamp this document and and has good exchange rates?

Cheers,

Mike

[freitag1]

Rossi,

we did this with K-Bank was no problem at all and done in 5 minutes. I'm waiting for the final assessment of our application now since over 10 days though. I hope we get accepted, because I couldn't find any other reliable and suitable payment option for Thailand (besides Paypal and their rippoff exchange rates).

Another thing you should look into is the following. You can set up multi currency accounts in Thailand and get the money sent to you in the currency you receive it from Worldpay. I will have Yen, Euro and Dollar accounts and get my money transfered to these accounts in Thailand to exchange them for an onshore rate. I already spoke with Paypal about this option but they won't do it.... They just exchange it first to Baht and then transfer it those f*%!#.

I really don't get why a company like paypal acts so stupid. It might be the size of the company that makes them so whack.

[Manchester]

google " Moneybookers "