Today’s objectives are to complete the payment gateway for my E-commerce site.
I’ve had a problem with doing this for some time. You would think the likes of Google Checkout and PayPal would have the facilities to accept Euro! Google does not accept to display the currency in Euro when you checkout. This means the price on checkout to my site is numerically the same when you go to pay at Google checkout but it’s a different currency. The Sterling.
Suppose it wouldn’t be a big deal if the pound continues to weaken and your getting a deal using your euro credit card
Paypal offer the ability to process payments in Euro through their website. I don’t really mind this approach personally. I love PayPal. Some don’t! I want to give every customer their preferred approach to payment.
PayPal also offer a “Pro” version of their payment processing. This allows you to accept payment for credit cards on your own website. Which is a great deal, especially because, like Google, it’s free to setup with no monthly costs or contract.
The problem you ask?
The Pro version of Paypal only accepts Sterling. Again! That leaves me buggered. I thought! The most important thing to any start-up business is to keep costs to an absolute minimum until revenue is generated. So an alternative has come to light
(A little prayer
and a belief that things will work out )
MoneyBrokers.com
Yes, the cost per transaction is outrageous. 8% of turnover per transaction. This really hits the bottom line. It means my prices have to be inflated by 8%. So, THE “work around program” THE “Solution.”
That being said. I can set up with MoneyBrookers. When turnover begins to show life, I can switch to a full fledged Merchant Account with a bank.
“It’s not like I let a Leprechaun out from under the stairs every time I need some coinage”
Why don’t I get a merchant account with a bank right now?
Good question. They require business plans, account history, company formation documents and yadda yadda. Can you image the costs associated with forming a full fledged company with internet merchant accounts, 12 month contracts, monthly fees, accountancy compliance, and decommissioning costs associated with every idea you want to test in the market? It’s bonkers. Entrepreneurs should be given some leeway. Free internet merchant accounts, pay later company formation, and all the rest. I’m not saying entrepreneurs should avoid any responsibilities, but rather government should be flexible enough to give people a chance to test the market and start some turnover before hitting them over the head with the Red Book of “Pay Us Now” Tape.

How Can I Start?
Maybe I’m just a chancer in life. Maybe I don’t care much for bureaucracy and need to learn how to work with the system. If you ask me. It just takes too long. How many ideas have you had that sounded great and then thought, nope I wouldn’t no where to start with legalities etc. But I bet if there where no regulations (provided your service or product was not of harm to the environment or people within it) then you could get it started quickly.
It’s like the Sunday Herald describes below:
In myriad different ways, it seems that so much attention is paid to minutiae of working practice that the bigger picture is lost. By disincentivising businesses in such ways, we are effectively preventing long-term growth and economic sustainability
That’s it for my rant. Back to Work. Best of Luck all.
Take action! Not Tomorrow, not later, Now!