Understand what a gateway does, and options on AuctionNinja.
What is a gateway? Is that different from my processor?
A gateway is like an adapter between AuctionNinja and the processor itself.
What gateways are available on AuctionNinja and how are they different?
Authorize.net
Sellers can use authorize.net to connect with many different payment processors. If you have a preferred processor, you can ask an authorize.net rep about connecting. Please CLICK HERE to view the associated fees.
Takeaways:
-Many available processors
-Great for new businesses
-The approval process can take 5-7 business days
NMI
The NMI gateway connects sellers to any processor that can provide a VAR sheet.
TIP: If you're looking to get a VAR sheet quickly, your business banking institution likely offers payment processing! Since you already have an account, they should be able to get you onboard ASAP.
Takeaways:
-NMI costs $17 per month and $0.10 per transaction. This fee is billed to the seller during the next billing cycle.
-NMI allows for a seamless bidding experience across multiple sellers, as bidder payment profiles are securely shared across gateway users (they only need to register their card once!)