Bank virtual POS or payment service provider?

Two ways to accept card payments

To accept card payments in your online store, you have two options: sign an agreement directly with your bank and use its virtual POS, or work with a payment service provider that accepts cards from all banks under a single agreement.

Both have their strengths. For most stores, the right answer is to use both together.

Bank virtual POS: your own agreement, your own rates

When you sign directly with a bank, you negotiate the commission rates and installment terms yourself. As your sales grow, so does your negotiating power.

• Installment rates are entered per card family of the bank, such as Bonus, World or Maximum.
• Each bank requires a separate application and a separate agreement.
• Installments are usually limited to cards from that bank's card family.

Payment service provider: one agreement, all cards

Providers such as Tami, PayTR, iyzico, Param and Tosla let you accept cards from all banks under a single agreement. For a newly opened store, this is the fastest way to get started.

• Application and setup are completed in one go.
• With Tami, PayTR and iyzico, a single installment table is used for all cards.
• Commission and payout terms vary by provider; put the offers side by side and compare them.

Using both together

In Roifex, several POS run at the same time. When the customer types the first digits of the card number, the card's bank and card family are identified, and the installments available for that card are listed.

For the same installment option, the system first picks the POS that is best for the customer and, if the options are equal, the one that is cheapest for you. You only enter your rates; the system decides which payment goes through which POS.

• Payments with debit cards, prepaid cards and foreign cards are taken in full, without installments.
• The card number and security code are never stored anywhere.

Setting up your installment table

• In each row, enter the commission, the rate passed on to the customer and the minimum basket amount.
• You can offer some installment options at the cash price and turn them into a sales campaign.
• You can set up installment campaigns, such as an extra month.
• Set limits with rules, for example a maximum of 3 installments in a certain category.

What you can offer besides cards

• Bank transfer: you can set a discount. If the payment does not arrive, the customer receives a reminder, and once the deadline passes, the order is cancelled automatically.
• Cash on delivery: you can set an extra fee. You see all orders that are on their way but not yet paid in a single list.
• PayPal: for your customers abroad. Payment is collected in the currency the customer sees on the site.

Quick checklist

1. Start with a payment service provider and accept all cards from day one.
2. Track which card families your sales come from.
3. Sign directly with the bank for the card family used most.
4. Set up your installment table so that it covers your commissions.
5. Enable bank transfer, cash on delivery and PayPal depending on your customers.