Paypal / Sagepay Converion Rates

[jimmyservis]

Hello

I currently have just Paypal as the checkout option. I'd like to give people the option to pay by card on the site. But i'm concerned its going to work out really expensive. If i removed the option of paypal and made everyone pay by card, it'd be ok.

How many people choose PayPal over Sagepay at checkout for example?
I think people might click off if i removed the paypal option?

For a merchant account, i think i'm right in thinking HSBC Merchant Services are going to have £25 off me a month (made up of charges), and Sagepay are also going to have £20?..

Thanks

James Service

[Dave]

Hi James,

We only run with SagePay so are not able to give you any comparison figures between Paypal and SagePay but hopefully someone else can provide you with this.

With SagePay its £20 per month (plus VAT) for up to 1,000 transactions per quarter. Over a 1,000 transactions per quarter its 10p per transaction, so £100 per thousand transactions.

Merchant Services do not charge a flat fee. They might have a minimum charge but they usually work on a percentage of the transaction value and that percentage will differ depending on what card the customer has used. These charges will also differ depending on who you use ie Barclays, HSBC, Streamline, Lloyds Etc. My advice would be to shop around for the best possible deal. We are members of the Federation of Small Business and because of this we get preferential rates with Streamline and pay less than 2% per transaction. Even on a bad month our streamline charges are in excess of £500!

I don't know if you already have an account with HSBC but they state on their website "To accept debit and credit cards over the internet, you will need to have been banked with HSBC Bank plc or have had a card processing relationship with HSBC Merchant Services for a minimum of 12 months."

Hope this helps.

[powertoolworld]

I agree with dave the FSB rates are unbeatable. To try and answer the conversion side to your question we get aprrox 4 sales on sagepay to every PayPal payment. I think there is a still some stigma attached to PayPal being eBay but this is far less than a few years ago.