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Thursday, September 09, 2010
                          

  PAYMENT GATEWAY BY SETCOM 

Overview

Setcom provides a wide range of mission critical real-time e-commerce services, including shopping cart facilities, credit card and debit card processing, tax calculation, shipping management, fulfilment messaging and order management.

 

Founded in 1999, Setcom has extensive experience in successfully routing and processing payment transactions.  To date, 95% of First National Bank’s Internet Merchants use Setcom.  And with an extensive national network of over 300 channel partners it has provided services to a multitude of SMEs and corporations.

 

Some of the largest enterprises such as Interflora, Exclusive Books and The Star Newspaper count on Setcom to provide a 24/7 enterprise-class infrastructure.

 

Strengths

  • Renowned customer service and technical support where the client sets the priority.
  • Comprehensive solutions, which are continually enhanced.
  • Comprehensive reporting and back-office system.
  • Secure and reliable customer data handling.
  • Consistent real-time response.
  • Their offerings allow merchants to maintain focus on their core competencies.
  • No upfront infrastructure cost.
  • To date, they have over 300 Channel Partners (ISPs, developers, and integrators) in the market that actively recommends Setcom as the preferred Service Provider.    

SME Account

 

The SME Account uses Thirt.com's escrow services to accept all purchases. Upon receiving a purchase from a buyer, Thirt.com will charge the buyer's credit card with the amount of the purchase. The funds are held in trust for 7 days while delivery is made. After the Escrow period, the funds are available for withdrawal.

 

Ø      Benefits

 

  • Start accepting credit card payments immediately.
  • No merchant account required with a bank.
  • No contracts.
  • No lengthy application for a Virtual Merchant Account with a bank.
  • Payments are managed by Thirt.com - a reputable trusted third party.
  • Guaranteed payments with no chargeback.
  • Some shoppers are more confident in buying from an Escrowed merchant.
  • Backed by Setcom, the e-commerce leader with extensive experience since 1999.

 

Ø      How it works

 

 

1. Terms Are Set: The product and order information are used as the terms of the purchase.

2. Buyer Pays: The buyer pays to Thirt.com, the third trusted party who will hold on to the funds for the Escrow period (normally 7 days).

3. Seller Ships: The seller sends the order to the buyer.

4. Buyer Approves: If, after the Escrow period expires, the buyer does not dispute the purchase, then the buyer is assumed to approve the purchase.

5. Seller Is Paid: Thirt.com will automatically credit the seller's account less the transaction fees.  The seller can then request a withdrawal.