In our last post here, we’ve covered some pros and cons with signing up with a turnkey merchant account provider and we’ll elaborate more on them now, including the benefits of going with a credit card processor.

Turnkey merchant account providers – What they can or cannot do for you

PayPal
When PayPal first started out, nobody quite believed that this company will be possibly the world’s most renowned turnkey merchant account provider. Now, 60 million customers later, PayPal has expanded its reaches to 190 countries all over the globe with an impressive client base such as Overstock.com and Delta Airlines although most of its account holders originate from parent company eBay.com.

Pros: PayPal is fast, in a DIY kinda way. You can pretty much setup and oversee the whole process yourself from embedding the “Pay now with PayPal” button on your web store to integrating your own shopping cart.

Cons: PayPal has been known to freeze accounts when disputes happen. That means you may find yourself penniless when PayPal denies you the money in your account. Convincing them you are not involved in fraud can also be rather difficult…

Google Checkout
Google Checkout is even more young when you compare it side by side with PayPal but because it’s Google we’re talking about, we can expect its growth to be imminent.

Pros: Google Checkout is an online merchant’s best friend. Not only are its fees relatively lower compared to PayPal’s, these fees could be waived altogether if the merchant is also an AdWords account user.

Cons: Google Checkout is still not as well known as PayPal so some customers may be hesitant when purchasing from a merchant who uses Google Checkout. They may not want to bother themselves with opening a new Google Checkout account when they already have a PayPal account – hence the lost business. There’s also been not a few complaints of glitches that led to incomplete sales. Merchants may want to see if Google improves this service before jumping onto the bandwagon.

Volusion
Volusion is THE new kid on the block – with only 10,000 accounts or so to its name. Percentage rate per transaction is relatively low, which will definitely drive more merchants to this new company in the near future.

Pros: Volusion offers MySpace and Facebook integration, with the additional benefit of charging merchants a flat monthly fee instead of the few cents per transaction demanded by other e-Commerce solutions.

Cons: Still relatively an unknown. The low rate is deemed a teaser rate and Volusion hasn’t announced its actual rate yet.

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