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PayPal vs. VISA (Part 2)

Filed in archive Entrepreneurship by Shawn Hessinger on May 14, 2007

PayPal vs. VISA (Part 2)
CONTINUED FROM PREVIOUS POST

Though I adore Harry for referring to me as "young", a call to a local merchant bank that is also a VISA "acquirer" two weeks ago demonstrated part of the problem here.

The bank generally dislikes entering an arrangement with any company that has been in business less than two years (pretty much eliminating the start-up entrepreneur) though might make exceptions for great customers of 20 years or more (pretty much eliminating the "young" entrepreneurs Harry is worried about because they're always using PayPal.)

I was further told that those wishing to accept VISA must meet lofty credit requirements and face service charges if not processing more than $1000 in orders per month.

A business checking account is also necessary with either a flat fee or service charges depending on the number of transactions processed.

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Tags: VISA  small  business  startup  pros  and  cons 

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Related Entries:

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Bad advice? - 11 May 2007

PayPal vs. VISA (Part 1) - 14 May 2007

Visa Micro Tag: Contactless payment device from Visa - 28 September 2007





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