Electronic Payments Costs

Having looked at the various payment methods we must examine the processes behind setting up an electronic payment system. Most payment solutions are provided by major financial institutions that take applications for their service quite seriously.

The following sections explore the costs and risks involved in setting up a payment solution. They also consider the service conditions placed on your business and the interpretation of risk made by your solution provider. The application processes behind the electronic payment products are also covered.

Finally, you will find a section giving you some pointers on negotiating the solution, price and positioning that is best for your business. The online and Electronic payments tool is especially useful in comparing the costs of different solution providers. You should use the section in conjunction with the tool to find what solution is most appropriate for your business.

Topics are covered under the following headings:

• Pricing
• Timescales
• Charge-back and fraud
• Exposure
• Security
• Application Criteria
• Negotiation
• Implementation

Let’s continue.

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