Introduction
Choosing the right payment processor can be a daunting task, especially with so many options available in the market. In this article, we will compare two popular payment processors, First Atlantic Commerce and Payscape, to help you make an informed decision.
First Atlantic Commerce
First Atlantic Commerce (FAC) is a payment gateway and fraud management solutions provider that specializes in card-not-present transactions. Founded in 1998, it is a well-known processor in the Caribbean and Latin America region.
Payscape
Payscape is a payment processing and merchant services provider that caters to small and medium-sized businesses across the United States. It was founded in 2004 and offers a range of payment processing solutions, including online payments, point-of-sale systems, and mobile payments.
Features
Here's a comparison of some of the features of First Atlantic Commerce and Payscape:
Fees
FAC charges a transaction fee of 2.95% plus $0.40 per transaction for all online card transactions. On the other hand, Payscape has different rates for different types of transactions. For example, for swiped transactions, Payscape charges 2.69% plus $0.25 per transaction, whereas for keyed-in transactions, it charges 3.49% plus $0.25 per transaction.
Integration
Both payment processors offer seamless integration with a variety of e-commerce platforms and shopping carts, including Shopify, WooCommerce, and Magento.
Fraud prevention
FAC employs a comprehensive fraud management system that includes real-time fraud screening, transaction scoring, and risk assessment. It also provides chargeback mitigation and 3D Secure authentication. Payscape also has a fraud prevention system in place, which includes fraud monitoring, chargeback alerts, and AVS/CVV2 verification.
Payouts
FAC offers daily or weekly payouts, depending on the merchant's preference, and supports multiple currencies. Payscape, on the other hand, offers automatic weekly payouts or on-demand payouts for an additional fee.
Conclusion
Both First Atlantic Commerce and Payscape offer robust payment processing solutions for different types of businesses. FAC is ideal for merchants processing card-not-present transactions in the Latin America and Caribbean region, while Payscape caters to small and medium-sized businesses in the United States.
When it comes to fees, both processors are competitive, but Payscape offers more flexibility with its pricing structure. In terms of fraud prevention, FAC's comprehensive system gives it a slight edge over Payscape. However, Payscape's payout options, especially the on-demand payouts, make it a more convenient choice for some businesses.
At the end of the day, the choice between First Atlantic Commerce and Payscape will depend on the specific needs of your business. We hope this comparison has helped you make an informed decision.