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Merchant Services - with who and how much?

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  • 11-09-2011 2:40pm
    #1
    lmartin
    Closed Accounts Posts: 17 ✭


    Hi there,

    We are launching an Irish based operation to compliment our UK business in the next month or so. We currently do business in Ireland but from the UK. We will be registering as an Irish business, opening Irish accounts and delivering many products from stock we will transfer to Ireland.

    My question relates to merchant services. Who do people recommend we sign up with? I have been looking at AIB for both business banking and merchant services.

    In the UK, due to the volume of transactions we're processing we get very good merchant service rates. I think it's around 1.2% on a credit card or 15p on a debit card. We will only be processing online payments in this way, we won't have a physical presence.

    Any advice?

    Thanks in advance,
    Liam


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    #2
    Kinetic^
    Closed Accounts Posts: 13,249 ✭✭✭✭Kinetic^


    Have a look at Ulster Bank, they seem to be the most competitive on paper. I'm not sure how flexible they are in terms of negotiation though.

    BOI recommend Elavon but they're expensive.


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    #3
    Dakor
    Closed Accounts Posts: 44 ✭Dakor


    I would recommend AIB Merchant Services. Good customer service and I got good rates from them.

    If you need a payment gateway, try Realex.


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    #4
    TheCostumeShop.ie: Ronan
    Company Representative Posts: 1,740 ✭✭✭TheCostumeShop.ie: Ronan


    Depends on your risk levels and turnover as to the pricing, the three main players are Elavon, Streamline (Ulsterbank) and AIBMS. Don't expect to get rates comparable with the UK though as Ireland isn't a competitive market in this field. For 15p on Debit you would definately be looking at 20M plus in turnover.

    Why do you want an Irish merchant? The UK guys should be able to do your Laser cards also and land in an Irish account, probably at better rates.


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