Once I have my site up and running, I'd like to accept credit card payments. How do I go about doing this? Do I have to initiate relationships with the individual credit card companies, like Visa and Mastercard?

no you can use companies like

2co
cashflows

If you use WHMCS you can use various payment processors.

Have you looked at www.PayPal.com? This would be the easiest and fastest way to accept credit card payments on your website.

2CheckOut is also a good choice, as mentioned by easyhostmedia.

Paypal useless today as their API has failed

Do you have any idea how many transactions do you intend to run each month? I know my local bank (Bank of America) has been trying to get us to go with them for a merchant account for years but they just can not beat the other prices that we are used to paying.

Depends on how you want to accept credit / debit cards really. On your website? Or via 3rd party payment gateways?

Either way you should get PayPal as it is the most popular among users

We use a credit card processor that ties directly into our bank. For $10/month, you really can't beat that price for credit card accounts.

At the same time, PayPal is also widely trusted and used. About 1/4th of our payments come through PayPal.

Hi,

There's are lot of payment gateways out there, most of the cost high (one time or monthly payment). Here are some of the list.

worldpay.com
paypal.com
asiapay.com.ph
authorize.net

But for us, we use paypal as it is convenient, and most of all there reputation as a payment gateway is established. So id suggest you go for paypal.

Thanks!

We use Google Wallet and PayPal both, as far as PayPal API down, we haven't had any big problems, there are glitches but usually momentary. What's good about Paypal and Google both is you do not have to pay a monthly fee if your starting out, that's one less expense, however the transaction fee could be lower through a credit card gateway.

There are plenty of gateway providers for a fee so you might want to do a little research on how they are to deal with. You might also want to check with your local bank branch where your business account is located. They could offer a program also, I know our's does as it keeps asking for our business.

Thanks for all the input, guys. I didn't even think about my local bank being a possibility! I do plan to use PayPal as well, although I'd like another option for customers that don't have/use PayPal accounts.

We use stripe.com for processing credit cards. Couldn't be happier! Plus they have no monthly fees which is a plus.

We use our own WHMCS addon payment gateway module for USA and Canada banks that we lease. They are tied to our merchant bank accounts about 2.7% cost of sale. We also use PayPal and Google Checkout about 8% of sale. They all get used about the same. PayPal is bad about charge-backs and will take money back from your bank in a heartbeat with little or no recourse on your side. Banks not so bad. Never had any charge-backs with Google.

I wish Stripe opened up to the UK!!! I've heard so many good things about them.

Paypal and Google checkout charge you 8% per sale? Or did I read that wrong? Both start at under 4%.

8% is quite a lot.

I think he meant that 8% of his total sales are processed through PayPal and Google Checkout.

Yes, I did.

Regards