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Merchant and Payment Solutions

shopping cart

Having an online store brings the question how to actually collect customer payments online. The answer is to consider setting up a payment gateway or merchant account for your e-store. The following guide will help you choose the payment gateway that most suits the needs of your e-commerce store.

There are two ways to collect credit card payments online:

  1. Obtain your own Merchant Account
  2. Use a third party credit card processor (ex. PayPal)

Merchant Account definition: Merchant Account (also known as a Payment gateway) enables online businesses to accept credit cards, debit cards, gift cards and other forms of payment cards. Merchant accounts securely route the credit card information through the relevant financial networks. Merchant accounts are paid solutions.

Third party credit card payment processor is suitable for your business website if :

  • You sell a limited number of products
  • Your product/service or credit history do not qualify for a merchant account
  • You live outside of the US
  • You have little cash on hand
  • You want to set everything with minimal effort
  • You prefer to simply sign up and start using it the same business day. You only pay 10-15% of the sale price of each product.

Third party payment processors are preferred by small online business owners and by those who are just starting out. Transaction fees are usually higher with third party payment processors compared to owing a merchant account. However, there is no minimum monthly charge or big deposit requirement so you are only charged on sales you have made.


HostAndWin recommends you three well known payment solutions:

PayPal PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. A PayPal account can be funded with an electronic debit from a bank account or by a credit card.   2 CheckOut 2CheckOut (2CO) provides turnkey e-commerce solutions to thousands of business customers around the world. 2CO's proprietary technology supports back-office functions including financial reporting, tracking, fraud prevention, affiliate tracking, customer service and sales tracking.   RBS RbsRBS is one of the biggest global providers of internet payment services. It is used by small, medium sized and big businesses worldwide. WorldPay is a part of the Royal Bank of Scotland Group - the 5th largest banking group in the world!

At HostAndWin we strongly recommend you to choose your payment gateway only after you make the needed research and compare different options. Payment gateways differ a lot and some might be better for your business than others. The payment gateway/ merchant account is a vital element of your online shop which will contribute a lot to your online business success, so you need to choose it wisely. Read more here.

PayPal 2CheckOut RBS WorldPay
Sign-up fee: None Sign-up fee: $49 Sign-up fee: Yes / custom quote
Transaction Fees:
$0.3+2.2-2.9% per sale
Transaction Fees:
5.5% commission on each transaction + $0.45/ sale
Transaction Fees:
Custom quote
Refund fees: $10 / chargeback Refund fees: $10-30 / chargeback Refund fees: Custom quote
Payment types accepted: Visa, MasterCard, Discover, and American Express, etc. Payment types accepted: Online checks, Visa, MasterCard, Discover, American Express, Diners Club, JCB and debit cards with the Visa, Mastercard logo. Payment types accepted: Visa, MasterCard, American Express, Dinners Club, JCB
Other services:
 - Compatible with shopping carts.
 - Sales generated money is collected directly to your PayPal account.
 - Available in 190 countries and 21 currencies.
Other services:
 - Compatible with shopping carts.
 - Get paid weekly.
 - Account is ready to use the same day you register
 - Accepts multiple currencies (U.S. Dollars, Canadian Dollars, Euros, Pounds Sterling, etc.)
 - Provides local currency conversion.
Other services:

 - Compatible with shopping carts.
 - Accept credit card payments in 144 currencies.
 - Set up your account within 7-10 business days.
 - Get paid every week.

Credit Card Processing:
 - On PayPal's site
Credit Card Processing:
 - On 2CheckOut's site
Credit Card Processing: On RBS WorldPay's website.
Customer Care:
 - By phone, email, tickets.
Customer Care:
 - By phone, tickets, knowledge base.
Customer Care:
 - 24/7 by email and phone
 - You simply register as a PayPal member and link your debit card, bank account or credit card to your PayPal. PayPal has a standard procedure of confirming that you are the owner of the card you linked during registration. You can start using your PayPal account at the same business day.