New Tool Provides Clear Rate Comparison Between PayPal And A Standard Internet Merchant Account
, Il- Jun. 28, 2010 – TransFS.com, the leading marketplace for comparing credit card processors, today announced their new tool for comparing PayPal fees against internet merchant account fees. There’s no signup or lead generation form; merchants can see which option is better for their business in literally a matter of seconds.
The PayPal Upgrade Calculator works by looking at the main drivers of fees – average transaction size and the monthly volume of the merchant. In addition, there are optional questions about on-site or off-site transactions and name displayed on the credit card statement for those merchants who have specific needs that require PayPal’s Website Payments Pro offering. For ease of use, industry standards for these values are displayed so that merchants can get a sense for how they compare how their business compares to the average online e-commerce site.
The PayPal Upgrade Calculator then takes these inputs and runs a real-time fee analysis between PayPal’s rates and an average of the credit card processors that participate in the TransFS.com comparison shopping marketplace for merchant accounts. Because the rate structures for PayPal and merchant accounts vary widely, the PayPal Upgrade Calculator relies on TransFS’ proprietary software to translate between these different pricing mechanisms to provide an apples-to-apples comparison.
“Many times business owners go with PayPal without considering that a traditional merchant account can actually be a cheaper solution. The TransFS PayPal calculator lets business owners compare the two options side by side to make the best choice,” said Joshua Krall,
and co-founder of TransFS.
The TransFS.com marketplace is the most comprehensive comparison shopping site of credit card processing providers. Thousands of companies, from PayPal to regional merchant account providers, are participants in the TransFS marketplace, ensuring that online and offline merchants can get the lowest rates from the provider that best matches their needs. To date, TransFS has helped its users save an average of 40% on their credit card processing costs.
TransFS.com users benefit from lower payment processing fees that allow merchants to keep more of their money by having credit card processing companies participate in a “reverse auction” for the merchant’s business. All participants in the TransFS marketplace offer Interchange-Plus pricing, which provides the most transparent fee structure. Within minutes, this “reverse auction” where pre-screened credit card processors competitively bid for the merchant’s business is complete. Even though this PayPal upgrade comparison tool is tailored to those online merchants who deal with card-not-present transactions, the TransFS marketplace provides free, secure, binding, no-obligation bids from credit card processing providers for all online and offline merchants.
“TransFS is all about bringing honesty and transparency to the payments industry. Now, business owners can easily see which payment processing method is best for them without corporate gobbledygook and misleading sales talk,” explained Sean Harper,
and co-founder of TransFS.
TransFS.com has made many tools to help merchants get the most out of their merchant account. Today’s PayPal Upgrade Calculator follows up TransFS’s iPhone credit card processing terminal and its TrueCostofCredit.com website where merchants can see how much in fees is deducted by the credit card companies for various transactions. Today’s release of TransFS’s new PayPal Upgrade Calculator further allows merchants to get the best deal on credit card processing quickly, painlessly, and in an easily understandable fashion.
TransFS.com is an online comparison-shopping service that enables business owners to shop for credit card processing services quickly, efficiently, and at no cost. TransFS evens the playing field for business owners, letting them keep more of their money without time-consuming, annoying sales calls from service providers. TransFS employs instant reverse auctions to quickly negotiate better deals, automated bill analysis software to identify unnecessary or undisclosed fees, a stringent certification program, and online ratings and reviews of credit card processors. TransFS.com has saved its customers thousands of dollars a month in credit card processing by placing merchants in control.