SEP 2016

DAYSPA is the business resource for spa & wellness professionals! Each issue covers the latest in skin care, spa treatments, wellness services and management strategies.

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Page 103 of 124 | SEPTEMBER 2016 101 Additional Credit Card Processors • Clover Go ( • innerfence ( • iZettle ( • Spark Pay ( • Vend ( BANKING ALTERNATIVES The best-known player in this arena is Ebay's PayPal (, which facilitates payments between parties online, where users connect their PayPal accounts to their bank accounts or debit/credit cards. The company, founded in 1998, has grown beyond its initial function and now serves as a capable busi- ness resource too. For instance, PayPal offers an online payment processing portal, where businesses can take payments from customers via credit or debit card and deposit those funds into their PayPal account, as well as accepting payments from other individual PayPal ac- counts. The company currently charges a $30 monthly fee, plus 2.9% and $0.30 per transaction, and funds become available almost immediately. If you're doing business such as e-commerce outside the U.S., PayPal can also process credit and debit card payments in six currencies, and PayPal payments in 23 currencies. Funds can be transferred to your regular banking accounts, or stored with PayPal and used to make purchases from vendors who also use the service. Another company gaining traction in this space is Stripe (, which offers many of the same services as PayPal, with the same fee structure. PayPal does provide volume discounts that make it slightly cheaper when a business processes more than $5k per month, and the company also releas- es funds into user's ac- counts in approximately 24 hours, whereas Stripe can take up to seven days. However, Stripe does offer additional features such as PCI compliance and data portability. Additional Banking Alternatives • 2Checkout ( • Authorize.Net ( • Intuit ( • PayAnywhere ( • Skrill ( • wepay ( For more detailed information and a distributor near you, please visit or call 1.800.645.3340 The Choice Of Professionals S I N C E 19 8 0

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