Product Brief: PaySystems
Web Commerce Today, Issue 71, June 15, 2003
PaySystems
http://www.paysystems.com
PaySystems Corporation
1500 University, Suite 920
Montreal, Quebec H3A 3S7
Canada
with offices in the US and UK
PaySystems enables international merchants with a way to receive credit cards for both tangible and electronic products as well as services. It provides multi-currency processing in USD, Euro, GBP and CAD, supports recurring billing, and accepts Visa, MasterCard, Discover, Amex, JCB, Carte Blanche, Diners Club and online checks. PaySystems does not offer services to adult sites, gambling, alcohol, firearms, or drugs. Transactions are subject to fraud detection Retail Decisions' ebitGuard service.
Customers must enter their own online orders. Merchants are not allowed to enter customers' credit card information for phone, mail, or fax orders.
PaySystems provides an online Reporting Center order management system, with inventory reports, shipping support, customer files. A shopping cart is available, but the company claims that their system can be integrated with any third party system. It supports coupons and special offers.
The fee structure includes a $49 one time set-up fee. Merchants can choose one of two fee structures that best fits their business model.
- 3.95% discount rate plus $1.00 transaction fee, OR
- 5.5% discount rate plus 35¢ transaction fee.
Merchants are paid weekly by check, wire, or ACH deposit (in the US) in the merchant's choice of currencies: USD, Euro, GBP and CAD.
