| | | Understanding various payment solutions In order to collect payment at your web site, we will need to integrate payment gateways for your customers to make payment online. Below are some introduction of the various 3rd party payment processing vendors: | 
Paypal is an affordable and widely used payment solution for most web site, owned by eBay. In order to use Paypal for your web site, you need to sign up for a merchant account. Setup fee is free of charge and there is no yearly fee. There is a low transaction fee of (2.4% ~ 3.4%, subject to changes by Paypal) for every successful transaction. It takes 5 to 7 business days to transfer your fund in Paypal to your local Singapore bank accounts.
 Part of The Royal Bank of Scotland Group, the 5th biggest banking group in the world, WorldPay is a trusted and reliable payment gateway used worldwide. | Service | Setup (SGD) | Yearly Fee (SGD) | Charges per transaction | | Credit Card Payment | 250 | 650 | 4.5% + 16cent |
Wholly owned subsidiary of Nets, eNets is the preferred payment gateway in Singapore, used by the government and many large corporations. Besides credit card, eNets gateway accept cash card and internet banking payment as well.
| Service | Setup (SGD) | Yearly Fee (SGD) | Charges per transaction | | Credit Card Payment | 200 | 450 | 4% | | Debit (Internet Banking) | 400 | 450 | 3.5% or S$1.50 whichever is higher |
*eNets have stopped providing virtual account service with effect from Feb 2009.
If your online store is doing very well, we would recommend that you set up a merchant account though.
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