How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lori Malto Your Own Question
Lori Malto
Lori Malto, Financial Advisor
Category: Finance
Satisfied Customers: 2
Experience:  Financial Service Representative
161283
Type Your Finance Question Here...
Lori Malto is online now
A new question is answered every 9 seconds

online payment system

Customer Question

 Is there an online payment system kind of like paypal which will allow a business to facilitate the payment from one user to another and take a transaction fee in the middle of that.  For example, one user sells a toaster for $50 and another user buys the toaster for $50.  I would like to let the buyer pay the $50 but in the process take a transaction fee?  This process will need to go through a third party provider like a bank or paypal type entity and not me.  Is there a system like this out there?  If you could provide me with a name of a company that does this and a URL that would be great. 
Submitted: 11 years ago.
Category: Finance
Expert:  Karel1 replied 11 years ago.
 try netteller.com
Customer: replied 11 years ago.
Reply to Karel1's Post:  this system does some online banking functionality and a few other things for other industries but I don't think it provides ecommerce merchant billing system.  I need a system which will allow for one transaction to pay two people.  
Customer: replied 11 years ago.
  I need an online system which will allow for one transaction to pay two people.  One payment could go through paypal to another user and the second payment would go to me.
Expert:  Lori Malto replied 11 years ago.
Hi!
I work at a major financial institution, and many times we are asked this question from business owners. To date, the only method of collecting money via the internet, is through pay pal. You may find that there are other similar sites out there, but are they legitimate? Paypal has many ways of retracting your money. The only other suggestion, is that when you place the item for sale, to include a "fee" and add it to the total of the item. You might call it a warehousing fee or something like that? Just a suggestion. I hope this has been helpful to you. If I can help you more on this, please feel free to ask.
Thanks!
Lori
Customer: replied 11 years ago.
Reply to Lori Malto's Post:

 Hi Lori,


 


Thanks for the emai.  I was hoping that someone would suggest some great service other than paypal.  Is there anything out there at all that you know of?  Maybe a third party bank or entity that will accept al lpayment and pay the seller their portion and pay me my transaciton fee.   

Expert:  Lori Malto replied 11 years ago.
To be honest with you, I havent heard of anything like that. The only other suggestion I have, is to possibly use like Western Union, and in this example, if the toaster is $50.00, add on a $5.00 fee (or whatever the fee you want to charge), and then make the total $55.00.
If you are not wanting to use paypal, Im not quite sure what you could do. I have used paypal in the past and actually added on an extra fee (depending on the situation) and before the transaction would proceed, the buyer would have to pay for that. Also, paypal offers business accounts that would also help in this situation. Again, I hope I have been some help to you!
Lori
I just looked on the net, not sure if this will help or is what you are looking for,
go to www.worldpay.com
and see if maybe that might help??
Lori Malto, Financial Advisor
Category: Finance
Satisfied Customers: 2
Experience: Financial Service Representative
Lori Malto and other Finance Specialists are ready to help you