What are the advantages of using Newtek’s NewtPay merchant account and payment gateway for processing
credit cards online, especially when compared to Google Checkout and PayPal Express? See the comparison below:
| NewtPay Merchant Account and Payment Gateway Account
|
PayPal Express Checkout
|
Google Checkout
|
| Your Money |
| Receiving Your Money |
1-2 business days and automatic deposit into your merchant bank account. |
3-4 business days and you must request a transfer to your merchant bank account.
If you request a paper check 1-2 weeks for paper check and $1.50 per check. Withdrawal
limit may apply and this may restrict the funds you receive. |
Up to 5 business days; you must request a transfer to your merchant bank account.
Monthly payout limit may apply, restricting the payout you receive. |
| Safety of Your Money |
Your merchant account is with a financial institution.
All of your funds are FDIC insured. |
Not a regulated financial institution, and your funds are not necessarily FDIC insured. |
Not a regulated financial institution, and your funds are not necessarily FDIC insured. |
| Seller Benefits |
| Customer Reach |
Credit cards remain the most popular online payment type which accounts for 85%
of online purchases. If you do not accept credit cards, you are missing out on
increasing sales. |
Shoppers must create a PayPal account to make purchases. |
Shoppers must create a Google checkout account to make purchases. |
| Competitive Pricing |
Lower flexible pricing. |
Rates controlled exclusively by eBay®/PayPal. |
Rates controlled exclusively by Google™. |
| Advanced Fraud Protection |
You set fraud controls to suit your unique business:
- Fraud Protection and Detection Modular
- Address Verification Service (AVS)
- Card Code Verification (CCV)
|
You have no visibility into the fraud filters/risk modeling PayPal uses. Their controls may
cost you legitimate business by declining transactions you may otherwise wish to accept. |
You have no visibility into the fraud filters/risk modeling Google uses. Their
controls may cost you legitimate business by declining transactions you may otherwise wish to accept. |
| Transaction Dispute Resolution |
In house dispute resolution who shares your interest in getting paid. |
Mediation service that represents both buyer and seller, making fair resolution
challenging and risking the possibility of frozen funds/account. |
Mediation service that represents both buyer and seller, making fair
resolution challenging and risking the possibility of frozen funds/account. |
| Customer Support |
- Online Knowledge Base
- Toll-free phone support
- Online chat
- Web form email
|
Web form email
Toll-free phone support is difficult to find and available
to only silver level PowerSellers and above. |
Self help only |
| Building Your Business |
| Credibility and Professionalism of Your Site |
Accepting credit cards directly on your site lends credibility that you have an established business. |
Many shoppers view PayPal strictly as a solution for amateur or inexperienced vendors that
may not have a proven business. |
You must prominently advertise Google on your site, whether that fits with your site design or not. |
| Building Your Brand |
You control the look of your checkout page, either on your own site or by using our hosted
payment form, allowing you to reinforce your company’s brand. |
Your customers are redirected to another company’s checkout page. |
Your customers are redirected to another company’s checkout page,
and you have almost no ability to customize the check out process. |
| Repeat Customers |
You control your customer’s payment information, making it possible to market
to your customers for repeat business and recurring transactions, which securely store
customer data for simple and secure repeat transactions. |
Restricts customer contact. |
You do not control access to your customers’ email addresses, making it difficult
to build your brand with your customer base. Google Checkout does not offer a subscription
payment service. |