Business Bank or an Internet Payment Solution?

Hi guys,

Could you help me decide which one to get. I'm near the end of making a website which will require some sort of payment method when someone registers, etc...

Anyway, the website is aimed at other businesses, so my question is:

Would another business pay through an IPS or would they prefer a proper business bank account?

Cheers,

Spence

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For a business to business ecommerce site you need more than one ways of payment. That is because there are many types of businesses out there working in different countries, which means a lot.

For instance a european S.A. company would prefer to pay using a bank account as it is the most easy way for them to display those payments in their government.

A small business like mine would prefer paypal as it is the easiest possible way to pay, while another small business would prefer to use a credit card as they never heared of paypal

What I am trying to say is that the most payment solutions you give, the better would be the response, but to give you a better advice maybe you should tell us more about your business.

Lol, sorry Nick, that would help if I did explain more.

Well for starters it's aimed at all kinds of businesses but within the UK only (for the time being).

What the business idea I have is, I've made a website for a business to sell any of their assets, placing an advert, to another business related to what they do in there own category. Now it's based only for business to business only, so there is a registration payment and a business check, to see if that business does exist.

I hope this has helped,

spence

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If you need to verify the business, then check is cool, but it wont be for everyone.

My opinion is that the more payment solutions you have, the more are the chances to get new clients

Yea, very true. I was actually thinking of joining WorldPay. Why? Well they are in partnership with The Royal Bank Of Scotland in the UK. They are the 5th largest bank in the world and they provide a large range of payment methods for clients to pay with. It's not free, as theirs a monthly fee but the cost will depend on what your website/business is, etc...

I might enquire to get a quote. Will be intresting to see what they say.

A couple of things,
Most UK banks now offer on-line merchant accounts so if you have a business account check your local bank.
If you don't have a business account most merchant accounts will be very expensive in the form of charges and will take a percentage so, if your going down that route your best of getting a business account. Either way you will be giving up a percentage as well as a standing charge. As for doing standard checks remember in the UK non limited partnerships and sole traders do not by law have to disclose themselves and so would be hard to check barring visiting their premises etc. An easier route though slightly more expensive is to become a credit authority it costs about £500 and allows you to do basic credit checks on location basis this means you can place there company address into the system and get a basic credit check, that includes if there is any outstanding debts against names (which includes company names) at that address, remembering virtually everyone has some form of credit it will show up a business, it also will flag any major credit issues they may have though will not provide details.

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