Comparison Of Internet Merchant Providers In Europe

The Difference Between European and American Merchant Providers

The USA has long been the leader when it comes to e-commerce merchant accounts. This can be attributed to the fact that e-commerce and credit card payment online first boomed in the said country. It did not take long for the European market to catch up, however. Due to the number of Internet merchant providers in the United States, prices were driven lower and lower. This fact, however, precipitated some harsh restrictions that were not beneficial to start up businesses.

This is where the main difference between the European and American merchant providers comes in – availability. European merchant accounts are easier to apply for than US merchant accounts. This is because American merchant providers tend to go through a lot of checks and balances before approving a merchant account application. Prices may be lower for US merchant accounts, though. This is because of the high rate of competition between merchant providers, which drives down the rates. Take note of the word “may” as this is not always the case. There are some European merchant providers which offer rates which are competitive with regard to the US market as well. In terms of quality, there is no perceivable difference. The important factors – approval time, safety, security, and stability – are present in the European market as well. Now let us look into specific Internet merchant providers in Europe.

Internet Merchant Providers in Europe: Comparison of Key Points

Instabill

Instabill is actually the global division of eCommerce Services UK Ltd. This European merchant provider, though based in the said continent, offers its services to businesses from other parts of the world. More so, Instabill extends its services to most any kind of industry operating on the Internet, including high risk industries. Industries that they service include, but are not limited to, adult entertainment, online pharmacies, online casinos, online sports books, betting exchanges, prepaid cards, e-wallets, travel, and replica products.

Instabill deals with its clients’ needs on a case to case basis. They have a host of solutions that they can offer their clients, based on the specific nature of the client’s business. To date, Instabill has operations in more than 16 countries from all corners of the world, with over 5,000 businesses as clients.

The fee structure of Instabill is one of its strengths. Its simplicity makes it competitive in the European and International market. The monthly fee is $49 while the transaction fee is 50 cents per transaction. The service fee for international merchants amount to 4.5% of the amount charged during any billing period. This figure is very flexible, however, as it strongly depends on several factors. These include the type and “age” of the business and its credit history and transaction history. With Instabill, you will be able to accept major credit cards including Visa, Mastercard, and American Express. Other credit cards or debit cards may be included in the list, upon request.

Cyberbit

Cyberbit solutions cater to all merchants within European countries. With Cyberbit, you can process and manage sales from anywhere in the world. They have a host of solutions that cater to different types of businesses, from Internet to retail sales. One of their strengths is the fact that you can do everything from one single gateway. As such, you can process payments in real time or batch or pre-authorize in one of the international currencies.

Other important information regarding Cyberbit’s services include:

Your own merchant account
Payment gateway access
Multiple integration methods
SSL certificate not required to be purchased
Advanced anti-fraud system
No software needed
No 3^rd party processing
Free risk management, etc.

With Cyberbit, you will be able to carry out transactions with the following credit cards:

Visa
Visa Verified by Visa
Mastercard
Mastercard Secure Code
JCB
Amex
Diners Club
Carte Bleue

The following debit cards are also accepted:

Visa Electron
Maestro
Solo

As for the fees, Cyberbit does not charge an application fee. There is, however, a merchant account and gateway set up fee of at least 99 euros. A gateway monthly fee of 19 euros is also applicable. The processing fee ranges from 2.0% to 5.75% while transaction fees range from 0.15 to 0.65 euros.