Anybody have an opinion on Yahoo merchant from a price, backend flexibility and a marketing perspective? If you dislike Yahoo what do you like?
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Anybody have an opinion on Yahoo merchant from a price, backend flexibility and a marketing perspective? If you dislike Yahoo what do you like?
Yahoo!® is actually an electronic payment gateway (like LinkPoint, Payflow, Authorize.net/Cybersource). Yahoo!® will also charge you a percentage (.75% - 1.5%) (along with the merchant account provider) on your transactions. Most gateways only charge a monthly fee and some might charge a transaction fee as well.
So you are probably paying a bit more for each transaction. You can use almost any merchant account provider since almost all of them are compatible with the FDMS network. I could not see how much Chase / Paymentech was charging (Chase / Paymentech is also owned in part by First Data)
Usually, if you sell a product, let's say $100.00, the fees charges by another merchant account provider and gateway is about $2.50. With Yahoo!®, the fees charges could be $2.94 to $3.69.
Do a good ROI before choosing them. For some, it might be worth it, for others, it might be too much. Look at what your competitors are charging - can you compete with them? And also look to see what else Yahoo!® might charge. I think they chareg a nickel or dime for some searches as well.
Yes they charge more than others Corey is right
Best bet is to shop around.
Just keep in mind that you are getting a lot more from Yahoo - the hosting, the cart, some search extras, etc. Some gateways have a basic cart that will configure the taxes and shipping costs for you, like the LinkPoint Cart and it is PCI compliant. It is about $30 or so a month, compared to the starting fee of $39.95 a month you pay with Yahoo. Plus Yahoo will charge you a transaction fee, while LinkPoint will only charge a monthly flat fee.