[LRUG] Recurring Payments and subscriptions

Paul Wilson merecomplists01 at googlemail.com
Fri Jan 28 07:01:38 PST 2011


On 28 Jan 2011, at 14:38, Zach Inglis wrote:

> We were going to do a similar setup, except we're doing it with Lloyds and it's proving to be a nightmare.

This is making me cross, in a write to my MP kind of way.  

> 
> They are suggesting they do not recognise Recurly as a safe company even though they are PCI Compliant. You may have the same problems with HSBC so do check before you invest too much money. Because this is a new company, we're unfortunately having to deposit £10,000 also as backup payment. You may find yourself in the same boat if you have no trading history.
> 

Thanks for the warning.  It's something I'll check for.  Is that with Recurly + SagePay, or are you using a different payment gateway?

Having read

http://danieltenner.com/posts/0006-how-to-get-a-merchant-account.html
and
http://blog.boxedice.com/2009/05/20/taking-payments-online-merchant-account-payment-processor-fees/

I'm going to try a number of banks, and also see about joining The Federation of Small Businesses(*), as may people are suggesting that their Merchant Account discounts are worthwhile.  


(*) http://www.fsb.org.uk/  (Cheesy website warning).


> The number one advice I have always got when building startups was "Don't roll your own billing system" by the way.
> 


Probably good advice.  Right now, we're planning to launch with a non-subscription based model - that way we can use PayPal (etc...) standard and we're not locked in to an account or gateway.  Oh hum.


--
Paul


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