I chose PayPal, well...because I have a PayPal account! But, truthfully even if I didn’t, I probably would have picked them anyway. In comparison to some other e-commerce payment centers, PayPal seemed to have the brand recognition that buyers are comfortable with, as well as the comparable prices vendors look for in such services. PayPal accept payments in 25 currencies, from 190 countries and markets around the world. According to their web site, 94.4 million people use PayPal worldwide.
If you qualify for merchant status (you must fill out a onetime application) there is no monthly fee (unless you choose extended services, such as turning any computer into a "credit card terminal", which takes credit card numbers and directly deposits funds into your account) and no set up fee. Fees are calculated per transaction, and there is a reduced rate for non-profit organizations. Fees are based on monthly sales, and if you sell $3000 or under, you pay 2.9% + $.30, between $3000-$10000 the rate is 2.5% + $.30 and over $10000 its 2.2% +$.30. If you have what they call micro payments, you can opt for their 5%+$.05 rate. All rates are in USD, and they do charge 2.5% (USD) for conversions and an additional 1% to accept payments from other countries.
