Australian Merchant Review
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Australian Internet Merchant Account Information
We have found some banks notoriously difficult to deal with when applying for CNP or Internet Merchant accounts. The worst offender is Westpac. In fact Westpac would like to have the whole system shutdown, judging by some of the restrictions it imposes on Payment Gateway providers. But we're happy to report they all failed and backfired giving more market share to their competitors.
CBA is a big offender in slapping on third party acquirer fees. But they are not happy to just pass them on - they double them taking in even more revenue. Unfortunately for some reason they let a third party American company (FDI) run part of their Internet Card card facility which charges a back end 14c processing fee which is then doubled to you the merchant @ 28c. Not bad for doing nothing and developing nothing in the first place.
Bankwest has let the same American company (FDI) acquire their whole facility for internet payments. Even the merchant helpdesk is run by FDI. This means that any enquiry for new merchants and so on will lead you directly to their own service. Be aware and insist on an Australian Merchant Payment Gateway supplier.
In the following order - our preferences for service, charges and getting you on quickly are:
- ANZ
- St George
- BankSA
- CBA
- NAB
- Bankwest
- Westpac
Banks
The following banks support 3rd party providers.
