Accept Credit Card Transactions On-line

[MikeWill]

Thanks for your posting, huski.

Personally, I'm not as worry for the payments' limit, as for the chargeback policy. It allows customers to submit chargebacks 12 months after money transaction. Isn't it looks worrisome for you? I think that the low limit is because of this.

And yes, I'm in Thailand, so the only possibility would be withdrawing funds in Thai baht. And it's according to the current banking exchange rate, isn't it?

I'm looking forward to hear about your new Thailand application.

BTW, I heard several bad stories about Paypal, be careful.

George,

You probably may contact iKobo at [email protected].

[Asiadebit]

1. What is the cost of:

- transferring money from online Payzip-account to a personal Baht or US Dollar bank account in Thailand?

- withdrawing the money as cash using the Visa Electron card that is connected with the account. (we've heard that iKobo charges withdrawal fees and provides poor exchange rates!)

Also, what's the cost and how to obtain the Visa Electron card?

2. Is it possible to pay deposits using your service? For example, if my online customer wants to book a vacation package that costs $1,000, can s/he provide a booking deposit of $300 only.

3. Who is in charge of handling chargebacks: you as the reseller, or the supplier of the products/services?

Should the customer ask for chargeback, let's say, after 6 month, and after s/he already used the services. What would happen in such case?

Since you deposit transactions as a batch on a weekly basis, and probably every transaction in the batch shares the same batch ID, how an individual payment could be identified? 

4. How I can offer to my customers to open a Payzip account and what's the cost?

If the cost of transferring money from one Payzip account to another is FREE, does it means that there is no sales commision for me as a supplier of the products/services (currently 5.50%).

5. As an owner of Payzip account can I accept payments by checks issued by some companies (mainly in the US) I'm affiliated with. If yes, how much is the cost, and how such process should be implemented and executed? 

Hi,

Let me answer both jayrockwell's questions and yours here.

Asiadebit's head office is Asiadebit Pte Ltd in Singapore. Asiadebit Singapore is the sole owner of Payzip Europe Ltd in UK. The UK office is basically unmanned and more of a technical setup for bank reasons. We are also incorporated in Thailand under Asiadebit (Thailand) Co Ltd. Our Thai company perform services for Singapore in the form of sales, marketing, support. We have a total of 15 employees in Singapore and Thailand. Our 24 hour support is based in Singapore. We have been in this business for almost 3 years now but been doing business on the Internet since 1995. Payzip has taken more than 1.5 years to develop.

Over to your questions:

1. Please see the following URL for our fees:

http://www.payzip.com/fees.aspx

We also have withdrawal fees and I can't say we offer the best rates available. The main reason for this is that we consolidate several services under one roof. We combine several services such as wire transfer, ATM withdrawals, online spending account and card processing under one single account. Some companies might have better rates for ATM withdrawals, others might have better rates for wire transfers or card processing. What we do is make it simple to do all of this using only one service. By using one service for all your needs you save money, and we all know time is money. ;-)

2. Yes, you can charge whatever amount you wish and then settle the outstanding amount either offline or online.

3. With Payzip there is two different ways of payment for a customer. If they already have a Premium Payzip account, they can use their online account to transfer money from their account to yours. In this case we have a zero chargeback guarantee and we don't charge any deposit or rolling reserve on the amount. You get 100% of the net amount minus our commission. Also, for Payzip payments we only charge 2.5% sales commission.

The other payment option is a plain card transaction. Since we can't verify the cardholder we charge a higher commission and also use a deposit system, usually a 10% rolling reserve. In case of a chargeback, we will levy that on your account. This is the hurdle of doing business online, the risk is always there. However, we have 12 people working full time communicating with the customers to make sure that they get what they ordered and also to avoid chargeback's. We are quite aggressive to push you, as the seller, to make sure that your customer service is doing what it should. By doing this we have kept the overall chargeback level very low for our partner sites.

All transactions can be reviewed in real-time using our online administration interface. In this interface you can see contact details of all customers and their payments.

4. The cost to open a Payzip Premium account for a private person is 89.00 EUR. This is quite a high investment and we don't expect to overtake Paypal with this service as it is a lot easier and faster to open an account with them. On the other hand, they can't guarantee your funds as we can since we really verify each new member in several ways. There is no such thing as a free lunch, and we believe most people are ready to make an investment for a service that offers them all these features under one roof.

Note that if you refer a customer to us, you will also earn a commission on all online Payzip transactions that this person will ever make under our system. This can be quite a good kickback for you if you manage to refer many customers to us.

5. We are looking into the possibility to clear ACH checks in the US. I can't give you any rates at this point though.

Best Regards,

[Fraktalkid]

Huski:

it looks like ikobo is trying to tap into the asian market as paypal won't let you have an account in thailand. there is a method of getting around that so paypal is my choice for accepting payments.

Would you be willing to share your paypal workaround with us?

[Zendesigner]

hello asiadebit (michael i presume)

i was talking to MAM about your services. Can you get her to mail me back i haven't heard from her in three days?

i need to make a decision on a credit card provider and wanted more details from your company.

B