To do this they should offer a variety of ways to collect customer card details and process payments. These are often defined by your own technical expertise. It could mean providing a simple means of redirecting customers from your site to their hosted payment pages. Or maybe you require a way for you to authorise payments remotely. Whatever your requirement, a dedicated PSP should have the solutions to meet it. One size does not fit all, so don’t let anyone persuade you otherwise.;
, A fixed monthly fee starts at around £10, but there are some cheaper options available, starting as low as £0.05 per transaction. As a rule of thumb, the higher your transaction volume, the lower the unit cost.
And remember to compare like with like. Ask if it’s a complete solution with inclusive fees or whether you’ll be paying the bank separately on top of that. Will the PSP with those ‘oh-so-attractive’ prices charge huge set-up fees for enabling services – such as deferred payments, a virtual terminal, or subscriptions – that come as standard with other PSPs?.
 Look beyond the headline figures and consider the overall long-term operational cost of partnering with each PSP. For example, does the PSP have limited support for fraud management? The cost of flimsy security could do much more damage to your bottom line than any fractional differences in rates.
 As an online merchant you need to make sure you can also manage them as efficiently as possible.
Which is why an effective PSP should provide you with the right reporting and administration tools to manage your merchant services… Will you have access to real-time transaction statements? Can you export valuable customer data? Is the reporting sophisticated enough to allow you to answer questions that can better target future sales. For example, how many MasterCards from Belgium were declined last month – and when?

, And a solution becomes a problem if there’s nobody around to explain or implement it. Indeed, in business there’s no such thing as an ordinary day and – all too often – the unexpected does happen.
 And the threat is mounting.
You can’t safely grow your business if your PSP isn’t ready to ensure that fraud does not grow too. So look for a PSP that provides fraud solutions that not only help eliminate the risks involved but also allow you to safely maximise acceptance rates. If a PSP does not have its own fraud solution, then the chances are that it hasn’t fully understood – or care about – the risks you will face.
PSPs that can issue IMAs will have firsthand experience of managing chargebacks and therefore, will be proactive in offering solutions to limit this costly threat. In fact, any PSP worth a second glance will offer configurable fraud-screening solutions and authentication mechanisms, such as 3D Secure.
 People must feel that they can trust you with their card details. If it all goes wrong and your customers’ card details are compromised, then your reputation is at stake.
 You wouldn’t buy a vehicle without proof that it’s reliable and the same goes for your PSP-to-be. Losing a sale is bad enough, but losing a sale because your PSP is down or unavailable is a disaster that affects both your revenue and your reputation. And if your PSP were to go out of business altogether, your own business might be sidelined for days or weeks.
Enquire about their technical solutions


Technically your PSP must be capable of supporting all of your plans.
Look for genuinely competitive rates


Costs (set-up fees and cost per transaction) can vary greatly between competing PSPs, so you need to shop around for the best rates.
Establish if there are any upfront costs


The real costs associated with accepting online card payments do not start and end at the rate quote.
Manage reporting and administration facilities


Accepting online payments is only one part of the e-commerce equation.
Enquire about their technical support


A service is not a service unless it’s fully backed up.
Find out if you would be protected against fraud


When accepting card payments online, fraud is potentially the biggest threat to your profits.
Make sure you can trust their services


Online, the difference between a prospect and a customer is trust.
Look out for a full service history


Okay, it’s not a car, but the principle is the same.
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