What You Need To Know About eCommerce Credit Card Processing


If you run your own e-commerce site, you know the importance of working with a trusted credit card processing partner. In a recent survey by Deloitte, 83 percent of respondents expressed concern over how their payment data is stored by online retailers. Protecting your customers’ personal information has never been more important. Credit and debit card scams now account for nearly 32% of all reported incidents of online fraud. Additionally, PCI compliance changes, pricing structures and platform flexibility must be considered before selecting a payment processor for your business.

What does it cost to work with a credit card processing company?

When choosing a credit card processing company, pay attention to their fee schedule. Some of the most common processing fees include:

Setup Fees – Most processing companies will charge you a small one-time setup fee.

Interchange Fees – These fees are charged by the processor on every transaction. They typically range from 2 to 4 percent. Many processors will charge 2 percent for purchases made in-person and up to 4 percent for purchases made online.

Gateway Fees – This monthly fee is applied exclusively to e-commerce businesses. Some processors have in-house payment gateways that are free of charge, however, the majority of gateways usually come with a nominal monthly fee.

Statement Fees – Many processors charge a fee to send monthly statements to you. Always opt for the electronic option if it’s available.

Monthly Minimum Fees – If you fail to meet the minimum monthly requirement, usually between $10 and $25, you’ll be charged this fee.

Early Termination Fees – Canceling your contract early is never a good idea because it could incur a large early termination fee amounting to thousands of dollars. To avoid this, look for processors that offer flexible month-to-month service options rather than long-term contracts.

Each credit card processing company will have its own unique fee structure. For this reason, the amount of money you’ll be charged to accept credit card payments will depend on how the payment was processed, Visa and Mastercard fee increases, changing international regulations and the processor’s pricing model. Some processing companies charge a flat rate plus a percentage of the sale, while others only charge a percentage of the sale.

What are the most common credit card processing pricing models?

The payment processing industry relies on four popular pricing models. The primary difference between each model is what happens to interchange fees. Sometimes they are itemized and charged separately from the processor’s markup. Other times, they are combined with the rate markup.

Interchange-Plus Model – This is the ideal pricing model if you’re looking for transparency. The interchange-plus model itemizes fees and markups and clearly lists them on your monthly statement. Rate markups will typically consist of both a percentage markup and a per-transaction fee markup.

Subscription or Membership Model – This model is similar to the interchange-plus model in that the wholesale cost of each transaction is charged separately from the markup. However, instead of paying a percentage markup on your transactions, you’ll only be charged a small per-transaction fee.

Tiered Model – Increasingly, payment processors are adopting tiered processing plans. This model categorizes credit card transactions into three categories: qualified, mid-qualified and non-qualified. Transaction rates vary according to their classification, with qualified rates being the lowest. If you fail to meet your processor’s standards, your transactions may be downgraded to a lesser classification.

Flat-Rate Model – In this model, all transactions are subject to the same percentage and transaction fee. These costs are then blended together to create one consistent rate. On the downside, this can make the transaction cost very high, especially for debit transactions.

How do you ensure your customers’ payment information is kept safe and secure?

When we think of security breaches, we often picture attacks on large, multi-national corporations impacting millions of customer accounts. In reality, small and medium-sized enterprises are equally at risk, mostly because they are easy targets. One study found that 46% of small businesses surveyed had been victims of a data breach, and only 33% had purchased adequate security software.

Payment card industry (PCI) compliance standards require merchants and intermediaries to handle credit card information in a secure manner that reduces the likelihood that cardholders could have their sensitive financial data stolen. When working with a credit card processor, make sure that they are PCI compliant. This will ensure that you’ll meet the industry standards for security.

Why you should never overlook the importance of flexibility

When choosing a credit card processor you must consider how their services will integrate with your existing equipment and software. With hundreds of online POS systems to choose from, your payment processor should be able to easily integrate with your preferred shopping cart. In addition, look for payment processors that offer technical support on your terms. Complimentary programming assistance and dedicated account representatives can help keep your business running smoothly should any unforeseen circumstances arise.

Additionally, the last thing you want to be locked into is a long-term contract, especially if it comes with a hefty cancellation fee. Your relationship with your credit card processor can change over time, especially as your business grows. When signing a contract make sure to review its terms and always ask about the contract’s cancellation fee. Alternative, you may also choose to shop around for a processor that offers their services on a month-to-month basis with the flexibility of no long-term commitments.


SolidTrust Pay can take care of all your credit card processing needs

Since 2006, SolidTrust Pay has been providing e-wallet and payment processing services for individuals, entrepreneurs and small businesses in over 190 countries. With fully customizable solutions and easy site integration, SolidTrust Pay is quickly becoming the most flexible and user-friendly payment processor online today. Guided by our commitment to service, we recognize our corporate responsibility in the world and donate significantly to recognized charities.

Canadian owned and operated, we consistently strive to exceed our member’s expectations by delivering uncompromising service at affordable rates. Contact us today at [email protected] to speak to a specialist about your unique business needs. We will strongly compete to be your provider of choice!

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The Changing Payment Method Landscape


Consumers have seen an explosion of online payment methods. Cash may be king offline where it continues to account for over 40% of all commercial transactions, but online, credit cards, debit cards, e-cheques and newer forms of electronic payments, such as mobile e-wallets and cryptocurrencies dominate. In 2018, payment processor TSYS interviewed 1,222 consumers and asked them which payment method they preferred. Fifty-four percent chose debit cards, while 26 percent selected credit cards. Less than 15 percent of respondents specified a preference for using cash. When these numbers were compared to the same survey results from 2017, the respondents’ preference for debit cards rose by 10 percent while their preference for credit cards decreased by 7 percent. Citing high-interest rates and climbing annual fees as the reason for lower credit card usage statistics, it’s clear that more and more consumers are looking for less expensive ways to pay for goods and services online.

Digital Wallets

Mobile payment methods, such as ApplePay, GooglePay and Venmo, are quickly growing in popularity among those under the age of 24, with 27 percent of survey respondents having loaded a debit or credit card into a mobile wallet or app to make a purchase. Despite the adoption of digital wallets by younger demographics, mobile payment use remains a small factor in the overall payments landscape. Less than 3 percent of those aged 65 and older have confirmed that they had used a mobile wallet. However, adoption rates may be hampered by fears over security and concerns that merchants wouldn’t accept payments made using a digital wallet. A study commissioned by JP Morgan Chase revealed that only 36 percent of merchants currently accept digital wallet payments, a figure that drops to 25 percent for small businesses.

Rising Security Concerns

The increased prevalence of high profile data breaches affecting millions of user accounts is affecting how consumers make online payments. The American Express Digital Payments Survey revealed that 37 percent of consumers have abandoned an online purchase as a result of security concerns. Despite these concerns, the frequency of online shopping continues to grow year over year, with nearly 50 percent of respondents declaring that they’ve increased the frequency of their online purchases over the past 12 months. Globally, 35 percent of online shoppers make an online purchase at least weekly. The survey also revealed that plastic is the preferred online shopping method, with Visa Debit Cards, Debit Mastercards and merchant issued credit cards accounting for nearly 82 percent of online payments.

Person to Person Payments

Since 2014, mobile person to person (P2P) payments have become an increasingly important battleground for financial institutions, tech giants and fintech startups. Bank of America’s 2018 Trends in Consumer Mobility Report revealed that younger consumers have rapidly embraced P2P payments. While only 44 percent of survey respondents said they used P2P payments, 51 percent of millennials report using the service at least once a month. The adoption of person to person mobile payments is primarily due to the service’s convenience and time-saving ability, with near real-time payment processing enabling recipients to receive funds often in less than one minute.


The global cryptocurrency market is projected to reach USD 1.4 billion by 2024, with an estimated compound annual growth rate of 6.18%. Entrepreneurs, start-ups and large as well as small and medium-sized enterprises are looking to digital currencies, like Bitcoin, Tether and Ethereum, to foster financial inclusion for millions of the world’s underbanked citizens. With a combined market capitalization value exceeding $200 billion, cryptocurrencies are going mainstream with hundreds of major companies accepting the digital currency as a payment method. You can now book a transcontinental flight, pay university tuition and purchase an electric vehicle all with bitcoin. With over 1,600 cryptocurrencies available for consumers to buy and sell, it should come as no surprise that global adoption rates are steadily climbing, with many regions boasting usage rates above 20%.

Paying Bills Online

Fiserv, an online bill payment provider, revealed that more than 90 percent of households used more than one payment method for paying bills. Consumers are increasingly using mobile devices to make payments to service providers. With more than 33 percent of those surveyed reporting having paid a bill on their smartphone, this represented a 22 percent increase from the previous year’s survey results. Despite this shift, the most popular payment methods for bills remained the biller’s website followed by financial institution sites.

The SolidTrust Pay Advantage

As a leading provider of payment processing solutions, we are committed to providing our members with innovative services. That’s why you can now buy and sell 10 Cryptocurrencies with your SolidTrust Pay e-wallet. We’ve also made it easier to send payment requests to friends, family members and business associates. You can conveniently receive payments with our Click2Pay Invoice service and the best part is your recipient doesn’t need a SolidTrust Pay account to pay you.

Finally, we’ve made it easier for our members to take care of their loved ones by providing access to over 800 billing companies in 18 countries. With Bill Pay Your Way, you can make international bill payments from your SolidTrust Pay e-wallet and ensure that your family is never without the services they depend on.  Your SolidTrust Pay account is so much more than a convenient e-wallet; it’s a gateway to a thriving global community dedicated to service!

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Create Your Own Independent Income with SolidTrust Pay

Club 2

Let’s be honest, it’s tough out there. In the U.S. alone, real wages have shrunk by 0.8% over the past 12 months, and since 2006, they’re down by 9%. Despite economic upswings in the job market, the majority of us continue to live paycheck to paycheck. According to a recent Bankrate survey, 48% of millennials and 39% of Gen Xers are dependent on earnings acquired outside their primary career. Whether you work a second job on the side or flex your entrepreneurial muscles and start your own business, more and more of us are seeking money-making opportunities that encourage work-life balance while enabling us to afford the necessities of life.

We believe in sharing our success with you, our valued members. That’s why we created the Leader’s Club program. We want to help you create an independent online income by earning up to $3,000 for every new Merchant or Member that you introduce to us. By helping bring SolidTrust Pay’s services to the world, you’ll receive an amazing 25% share of all member to member transaction fees up to $3,000 when your referrals reach required qualifying levels. Plus, as an added surprise we have numerous bonuses available!

The Leader’s Club program empowers anyone to generate their own income. The opportunity is available to all personal, business and corporate account holders. Your revenue share is instantly credited to your SolidTrust Pay account and you’ll receive extensive training tools and expert support to help you succeed.

Have a look at our compensation examples below and see how much you can start earning.

Income Personal Account Business Account
25% Share on $500 $125 $140.63

Remember how we mentioned bonuses? This is how much a bonus could pay you:

Bonuses 10 Referrals = $100 50 Referrals = $600
Number of Qualified Accounts 10 Referrals = $30,000 50 Referrals = $150,000

We understand that convincing your favourite merchants along with your friends and family members to try our services may require a little persuasion. To assist you, we’ve compiled a list of reasons why they should consider SolidTrust Pay for their online e-wallet and payment processing needs. Since 2006, we’ve helped millions of members achieve their financial goals with our integrated payment platform. We’ve also helped thousands of merchants grow and compete online and possess the know-how to help them succeed.

The SolidTrust Pay Advantage

  • SolidTrust Pay has been serving clients in more than 190 countries for over 13 years.
  • Our excellent reputation and positive customer reviews make it easy for you to introduce new members.
  • We provide award-winning customer support with dedicated merchant account representatives.
  • It’s free to apply and there are no monthly account fees.
  • We offer some of the lowest processing fees in the e-commerce industry.
  • Extensive training tools and support is provided to help you succeed.

In addition to these great benefits, we pride ourselves on innovation and recently introduced two new services to our members. Bill Pay Your Way is our exclusive international bill payment service. Available to all SolidTrust Pay members, Bill Pay Your Way gives members access to more than 800 billing companies in 18 countries with no transaction fees. We also created Click2Pay, which lets our members send payment requests to anyone, anywhere in the world. Click2Pay streamlines the invoicing process, enabling recipients to easily make payments with their credit or debit card, even without a SolidTrust Pay account.

We believe that everyone should have the freedom to send and receive funds online. Since 2006, SolidTrust Pay has served millions of clients worldwide, providing e-wallet and payment processing services to individuals, entrepreneurs and small businesses. SolidTrust Pay is the most flexible and user-friendly payment processor online today. In addition, we recognize our corporate responsibility in the world and donate significantly to recognized charities. Canadian owned and operated, we strive to exceed our member’s expectations by delivering uncompromising service at affordable rates.

Excited co-workers

Let Us Work With You

Through our Leader’s Club program, we want to help you secure your financial future and build a sustainable income stream that will support your loved ones. SolidTrust Pay was founded on a sharing philosophy, and it’s this philosophy that continues to guide us. Your SolidTrust Pay account is so much more than a convenient e-wallet. It’s a gateway to a thriving global community dedicated to excellence.

Are you ready to start your journey towards financial freedom? Unleash your inner entrepreneur and start earning today. Click HERE to apply!

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*Terms & Conditions apply. Please review the Leader’s Club Terms & Conditions HERE




Have You Thought About Accepting Cryptocurrency Payments on Your Ecommerce Site?


In June of this year, the global cybersecurity firm Kaspersky revealed that 19% of the world’s population has purchased cryptocurrency. The study further disclosed that 14% of respondents who have never used cryptocurrencies would like to do so in the future. With a combined market capitalization value exceeding $200 billion, now is the perfect time to start accepting cryptocurrency payments on your website.

ICOHolder has assembled a list of more than 250 companies that currently accept cryptocurrency as a method of payment. The list has some surprising additions. You can now book a transcontinental flight, pay university tuition and purchase an electric vehicle all with bitcoin. With over 1,600 cryptocurrencies available for consumers to buy and sell, it should come as no surprise that global adoption rates are steadily climbing.

Accepting cryptocurrencies on your site is a savvy business practice. Already, 20% of millennials are holding or using digital assets, which represents a momentous shift in the cryptocurrency market. Here are 5 reasons why you should consider accepting digital currency payments today.

5 Reasons Your Business Should Accept Cryptocurrency

1) You’ll Save Money – Because cryptocurrencies are decentralized, they do not require a bank or third party to verify every transaction. By eliminating these high fees, you’ll save between 2 and 5 percent on each transaction.

2) Transactions Are Processed Quickly – With cryptocurrencies, waiting for funds to be deposited into your business account becomes a thing of the past. Transactions occur in real-time which means they are quickly processed.

3) You’ll Acquire New Customers – Cryptocurrency adoption is quickly growing and as more and more people learn about the advantages of using digital assets, you’ll be perfectly positioned to provide them with the products and services that they need. Cryptocurrencies are also a convenient payment option for customers who do not possess a credit card.

4) Eliminate Fraud and Chargebacks – Cryptocurrency blockchains record transactions on an immutable ledger which means that they cannot be modified or deleted. This eliminates potential fraudulent chargebacks as both parties must approve transactions beforehand.

5) Cryptocurrencies Are Truly Global – If your business exports goods or purchases manufacturing supplies from foreign countries, cryptocurrencies can help you avoid expensive foreign transaction fees and exchange rates. Additionally, in regions where financial services are limited, cryptocurrency payments can be easily made using mobile phones, bypassing expensive third-party intermediaries.


We know that cryptocurrencies are complicated. That’s why we’ve made it easy for you to start accepting some of the most popular digital currencies on your website. With our payment platform, you can easily accept Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, Ethereum Classic, Binance Coin, Dogecoin, Litecoin, NEO, OmiseGO, Tron and Ripple. It’s completely free to upgrade your SolidTrust Pay merchant account to accept cryptocurrency payments and our representatives are always available to answer your questions or lend a helping hand.

By applying to accept cryptocurrency payments at your checkout, you will be providing your customers with more payment options, which in return, will attract more business! If you already have a merchant account with us, you can apply for a cryptocurrency payment button by logging in to your SolidTrust Pay Account and going to Merchants > Crypto Payments. If you don’t have a merchant account, you can Sign Up for free and start accepting digital currency payments today!

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