Many people think that in order to do business online you need to have
an expensive merchant account to have the ability to take payments by
credit card from your customers. Nothing could be further from the
truth. Merchant accounts can be hard to get and the monthly fees can
really add up.
So what's an honest Internet Entrepreneur to do?
The answer for most is Paypal.com. It's easy to set up an account, and fees are low and depend on your monthly sales (for most it will be 2.9% and .30 per transaction). You'll find most Net
users trust and use PayPal for their everyday purchases, so they won't have a problem using
it on your website to purchase from you.
However, relying solely on PayPal.com for your business can be risky. Should you ever lose
your PayPal account or you have it "frozen," your online income will come to a screeching halt.
You need a backup plan; another way to accept payments -- or you'll have to close up shop.
This is the same thing as relying on one stream of income. If you lose your job your only source
of revenue dries up as well. That's why multiple streams are best to keep you in the green.
So who are some of the others? I thought you'd never ask:
1) Bidpay: http://www.BidPay.com
This service is available only for those who buy and sell at online auctions. Buyers use their
credit or debit card to make their purchases from you and BidPay sends you a Western Union
Money Order or the payment is directly deposited into your checking account if you live in the
U.S.
2) CCNow: http://CCNow.com
A shopping cart solution that also allows you to take all major credit cards without a merchant account. They pay you your earnings twice a month and while your money is sitting on account it earns 1.5% APR.
3) DigiBuy: http://www.DigiBuy.com
For those who sell software. Puts you in control of pricing, order forms, and delivery options. Pricing varies with two service levels to choose from. Your earnings are paid to you monthly minus their 13.9% per transaction fee ($3.00 minimum). Digibuy allows you to accept payments by Visa, MasterCard, Amex,Discover or Diners Club.
4) E-junkie : http://www.e-junkie.com/
E-junkie provides shopping cart and buy now buttons to let you sell downloads and tangible goods on your website, eBay, MySpace, Google Base, CraigsList and other websites using PayPal Standard, PayPal Pro, Google Checkout, Authorize.Net, TrialPay, ClickBank and 2CheckOut.
5) 2CheckOut: http://www.2CheckOut.com
It will run you $49.00 to open an account, then it's .45 per sale and 5.5% of the sales amount.
Includes free shopping cart and codes to add to your website. Will also work with your existing
shopping cart if you just need a way to take credit card payments. Can be used for tangible or digital download products. With 2CheckOut, you can take payment from all credit cards and even check and debit card payments.
6) ClickBank: http://www.ClickBank.com
A great service which I've used for years. Good for selling digital products and comes with a built-in affiliate program. You'll have to pay a one time fee of $50.00, then it's only
$1.00 plus 7.5% of each transaction. Allows you to take payments from all credit card types.
7) ShareIt: http://www.ShareIt.com
For selling software and shareware online. Your customers can pay by credit card or debit cards
even checks. Receive your money by check or electronic transfer to your bank account. Fees
are based per transaction with no monthly charges.
ProPay: http://www.ProPay.com
Accept payments by credit card via the web or even by phone. Funds are deposited into your
ProPay account. You can get a ProPay MasterCard to access your funds or transfer your
earnings to your bank account. They have four types of accounts to choose from: Basic, Premium, Premium Plus, Platinum, with annual pricing from $34.95 all the way up to $299.95, depending on the features and type of account you need.
9) Money Bookers: http://moneybookers.com/app/
Money Bookers offers a merchant feature that allows you to create order buttons for your website and be paid by credit card. Fees range from 2% all the way up to 8%, depending on how payments are made. No setup or monthly fees. You can accept payments from over 30 countries. Money can be transferred instantly to your bank account.
10) Alertpay: https://www.alertpay.com/
Alertpay allow you Open an account for free, Send money from 192 countries accept payments by credit card, and a lot more
11) TrialPay :http://www.trialpay.com/
TrialPay is the first payment method that actually increases a customer's willingness to pay. If a customer won't
purchase your product outright, he may be a better customer for another brand. TrialPay lets you leverage the brand recognition of our advertisers (Blockbuster, FTD.com, Gap and The Wall Street Journal, just to name a few) to convert these customers. By matching your customers with their preferred brands, TrialPay turns abandoned carts into conversions.
Don't wait for disaster to strike before opening another web based payment account. Like a "good scout," you want to be prepared in the event you need a backup. You never know what tomorrow will bring so get your house in order now.
So what's an honest Internet Entrepreneur to do?
The answer for most is Paypal.com. It's easy to set up an account, and fees are low and depend on your monthly sales (for most it will be 2.9% and .30 per transaction). You'll find most Net
users trust and use PayPal for their everyday purchases, so they won't have a problem using
it on your website to purchase from you.
However, relying solely on PayPal.com for your business can be risky. Should you ever lose
your PayPal account or you have it "frozen," your online income will come to a screeching halt.
You need a backup plan; another way to accept payments -- or you'll have to close up shop.
This is the same thing as relying on one stream of income. If you lose your job your only source
of revenue dries up as well. That's why multiple streams are best to keep you in the green.
So who are some of the others? I thought you'd never ask:
1) Bidpay: http://www.BidPay.com
This service is available only for those who buy and sell at online auctions. Buyers use their
credit or debit card to make their purchases from you and BidPay sends you a Western Union
Money Order or the payment is directly deposited into your checking account if you live in the
U.S.
2) CCNow: http://CCNow.com
A shopping cart solution that also allows you to take all major credit cards without a merchant account. They pay you your earnings twice a month and while your money is sitting on account it earns 1.5% APR.
3) DigiBuy: http://www.DigiBuy.com
For those who sell software. Puts you in control of pricing, order forms, and delivery options. Pricing varies with two service levels to choose from. Your earnings are paid to you monthly minus their 13.9% per transaction fee ($3.00 minimum). Digibuy allows you to accept payments by Visa, MasterCard, Amex,Discover or Diners Club.
4) E-junkie : http://www.e-junkie.com/
E-junkie provides shopping cart and buy now buttons to let you sell downloads and tangible goods on your website, eBay, MySpace, Google Base, CraigsList and other websites using PayPal Standard, PayPal Pro, Google Checkout, Authorize.Net, TrialPay, ClickBank and 2CheckOut.
5) 2CheckOut: http://www.2CheckOut.com
It will run you $49.00 to open an account, then it's .45 per sale and 5.5% of the sales amount.
Includes free shopping cart and codes to add to your website. Will also work with your existing
shopping cart if you just need a way to take credit card payments. Can be used for tangible or digital download products. With 2CheckOut, you can take payment from all credit cards and even check and debit card payments.
6) ClickBank: http://www.ClickBank.com
A great service which I've used for years. Good for selling digital products and comes with a built-in affiliate program. You'll have to pay a one time fee of $50.00, then it's only
$1.00 plus 7.5% of each transaction. Allows you to take payments from all credit card types.
7) ShareIt: http://www.ShareIt.com
For selling software and shareware online. Your customers can pay by credit card or debit cards
even checks. Receive your money by check or electronic transfer to your bank account. Fees
are based per transaction with no monthly charges.
ProPay: http://www.ProPay.com
Accept payments by credit card via the web or even by phone. Funds are deposited into your
ProPay account. You can get a ProPay MasterCard to access your funds or transfer your
earnings to your bank account. They have four types of accounts to choose from: Basic, Premium, Premium Plus, Platinum, with annual pricing from $34.95 all the way up to $299.95, depending on the features and type of account you need.
9) Money Bookers: http://moneybookers.com/app/
Money Bookers offers a merchant feature that allows you to create order buttons for your website and be paid by credit card. Fees range from 2% all the way up to 8%, depending on how payments are made. No setup or monthly fees. You can accept payments from over 30 countries. Money can be transferred instantly to your bank account.
10) Alertpay: https://www.alertpay.com/
Alertpay allow you Open an account for free, Send money from 192 countries accept payments by credit card, and a lot more
11) TrialPay :http://www.trialpay.com/
TrialPay is the first payment method that actually increases a customer's willingness to pay. If a customer won't
purchase your product outright, he may be a better customer for another brand. TrialPay lets you leverage the brand recognition of our advertisers (Blockbuster, FTD.com, Gap and The Wall Street Journal, just to name a few) to convert these customers. By matching your customers with their preferred brands, TrialPay turns abandoned carts into conversions.
Don't wait for disaster to strike before opening another web based payment account. Like a "good scout," you want to be prepared in the event you need a backup. You never know what tomorrow will bring so get your house in order now.
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