Bank on OPS to make you money
Wednesday 18th March 2009
Despite the country slumping further into recession, it seems we won't find any sympathy from Google. The Internet giants last week announced plans to increase the service fees it charges to its online merchants using their Google Checkout service - leading to fierce criticism from angry vendors.As Channel Register reports, "Merchants in the UK currently pay 1.5 per cent of the value of the transaction plus 15 pence. From 5 May this is replaced by a tiered structure starting at 3.4 per cent and 20 pence per transaction if monthly sales are worth less than £1,500".
With Google's rival, PayPal, already courting controversy for their high fees and aggressive strategy, it is further evidence that with interest rates at such low levels, banks are placing more emphasis on transaction fees for their revenues to pay their costs.
Yet you won't find this the case with Chapter Eights' Open Payment System. Our clients enjoy fixed rates per transaction that start at 1% and DROP depending on their volumes. Not only that, our system is bank neutral - allowing Open Payment System clients to negotiate the best rates with their banks too.
If you want to find out more about the Open Payment System, please call 0113 243 9920 to speak to one of our business analysts.
