Versions Compared

Version Old Version 1 New Version 2
Changes made by

Daryl Saunders (Unlicensed)

Daryl Saunders (Unlicensed)

Saved on

Key

  • This line was added.
  • This line was removed.
  • Formatting was changed.

...

One of the key reasons use a payment gateway is because of the security and fraud protection they offer, in addition most third party gateways do not
require you to set up a merchant facility – they take on this role themselves – which can save you both paperwork and costs.

How A Gateway Works

payment gateway stripe vs eway

1) Your E-store customers completes a purchase in your store and enters their credit card details

2) Payment Gateway: receives the customer credit card details and funds and processes the payment, passing the funds on to your bank (3)

eWAY Payment Gateway

eWAY, founded in 1998, is one of the largest eCommerce gateways active in Australia and is used by a wide range of online businesses in Australia.

...

eWAY uses NAB and has a fraud protection arrangement with NAB which essentially means NAB carries the risk of fraud, this lets eWAY promise same day
settlement.

In the table below we compare the key elements of eWAY's two offers as at December 2014:

 

 eWAY All in OneeWAY Gateway Only
Set Up Costs0Banks fees associated with set up of Merchant Facility
Set Up Time"6xFaster" - then eWay Gateway Only4-6 weeks to set up merchant facility
Transaction Costs2.2% + 30cBudget Plan: $30/month, 60c/transaction (5 free)

VIP Plan: $60/month, 40c/transaction (200 free)

Community (not for profits) Plan: $20/month, 50c/transaction (10 free)

Multi year plans are available at 10-15% discount
Settlementsame daysame day
Fraud ProtectionNABNAB
Refund Costs30c (initial transction cost)30c (initial transction cost)
Multiple CurrencyYes, requires a Multicurrency Internet Merchant FacilityYes, requires a Multicurrency Internet Merchant Facility
Subscription Billingyesyes
Xero Supportyesyes
Supportphone, email, chatphone, email, chat