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• PayPal Standard
• Merchant Account

Requirements

Must be Run as a Business to Qualify

• Business License Required by Payment Processor
• Credit Check Required by Payment Processor
• Verified Business Bank Account Required by Payment Processor

Costs

Highest Monthly Overhead

• Payment Integration: FREE (Enabling fee collection on League Lab)
• Monthly: $35 Paid to Payment Processor
• Each Transaction: ~2.4% + $.20 Paid to Payment Processor
• Funds Deposited Into
  Your Bank Account

Setup

3-7 Business Days, Offline Forms

1. Gather Business License, Business Bank Account, and Credit Check Info
2. Fill Out Merchant Account Application Form
3. Submit Form to League Lab
4. Account Approval in 2-3 Business Days

Resources

Inc Magazine Article: Understanding Merchant Account Fees

Online Merchant Account

Good

for high volume, established Leagues and Tournaments that are run as a business. You accept registration and payments 8 or more months a year. Your ideal business model depends on having a professional level online payment solution - both for your players ease of use (and to convert more visitors into sign ups), and for maximum back office efficiency. Your site IS your business, and you are very protective of the online experience your players have... you do not want them leaving to pay elsewhere.

• 

• Professional online shopping experience. Your players NEVER leave your site to pay.
  
• Stored payment profiles allow you to take credit card info and run it later (use credit card info to hold a spot, add and run late fees, cancelation fees, etc)
• Funds Deposited Direclty into YOUR bank account. The fastest way to get your money online: 1-2 business days.

Not a Good Fit for

small to medium size operations, or operations that run less than 8 months a year. Monthly costs associated with a 3rd party merhant account outweigh the value of the tools and flexibility that this solution provides.

• 

• Highest Montly Overhead
  Not ideal for leagues with low volume, running less than 8 months a year.
• More Complex
  Seperate billing statement from a third party merchant provider.
• Most Requirements
  Business License, Business Bank Account, and Credit Check required.

Player Payment Experience

Professional level ecommerce means a clean, familiar 'check out' experience for your players. Players stay on YOUR site to submit all payments.