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Old 07-30-2009, 10:53 AM
Michael Michael is offline
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Default An Introduction To Payment Processors And What To Take Into Consideration When Choosi
Using payment processors in your business is vital, as they are how you will receive payment for your products or services. Your first thing to do is to get a merchant account set up using one of these payment processors.

How would you define a merchant account? It is a system on your website that will accept payments. This will allow your buyers to pay online via your web page. For ease in shopping, you know that it is vital that you provide a secure payment page where buyers can use a credit card to purchase something. There are a number of merchant accounts you can set up for this purpose. It is always wise to give your customers many choices in the type of payment processor.

What are the fees involved in something like this? There are a number of different kinds of payment systems. Some charge monthly for the service, and others will charge you to set up an account and then a fee per transaction. You will need to look into these payment processors carefully before you enter into any agreement. Some of the companies offering these services will charge you fees that weren?t made clear when you sign up. Six month or one year terms are common, so you might get locked in. Try to be careful of these factors, because you don?t want to end up putting your business at risk.

What are the different processors to look into? If your business is online, Paypal, Clickbank and 2checkout are inexpensive, easy to use and quite simple to set up on a website. With these, you can set them up with no knowledge of code for web pages. These are known as third party systems.

What do they do? The buyers will be transferred to a secure page to buy your products and services. This means that it is not necessary for you to set up a secure page yourself. Now there are some advantages to using 3rd party processors.

1. They offer an excellent and safe way for your customer to shop because they accept credit cards, which is how 80%-90% of transactions are done online. 2. They all have tutorials and instructions on how to set them up, and you don?t have to use just one, but can have a number of them. 3. You will be confident that they will handle any fraud that comes up in your transactions 4. You can use your own bank account for getting paid.

It?s easy to set up a payment processor

Just go to the home page of any of these payment processors and following their instructions, it will be easy to set them up. There are a wide array of tools offered.

For your customers, having a shopping cart on your site makes everything quite simple. They are like a virtual grocery cart. Because shopping carts are so easy to use, it will make your customers want to buy. This system will work well for online businesses and sites with multiple related products like hosting companies..

Of course, each payment processor has it?s upside and downside. I always recommend Paypal since it gets the money immediately accessible.

If you are going to be offering an affiliate program, try ClickBank. It costs a bit to set up (around $50) but they pay every two weeks and are very reliable.

I?ve never used 2Checkout but many marketers do. They have a very good reputation. All charge fees so do a little scouting for the best prices.
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Old 08-07-2009, 12:49 PM
expertcredit09 expertcredit09 is offline
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hey Michael this is very good information payment processors and very useful too thanks for this and keep sharing this type of information.
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Old 08-11-2009, 09:37 AM
SKETCH3D SKETCH3D is offline
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Default Payment processing
I am new to the idea of taking online payments. I am investigating options for a new idea which I am currently preparing.

What are the thoughts towards Google checkout?
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Old 08-11-2009, 12:34 PM
turncoat turncoat is offline
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I use a number of processors depending on the choice of who I am paying or receiving payment from.
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Old 08-11-2009, 12:43 PM
turncoat turncoat is offline
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I hope I can post again, I would say that paypal is the best though as most people seem to trust it.
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Old 08-13-2009, 02:21 PM
thewebhostingdir thewebhostingdir is offline
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I am using 2checkout.com and paypal. According to my point of view both of them are the best payment processors among others.
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Old 08-23-2009, 08:26 PM
Silk Knot Cufflinks Silk Knot Cufflinks is offline
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I would also think about reputation. Some are notorious for freezing funds whenever there is any 'suspicious activity.' This sounds prudent, until you realize that these bouts of 'suspicious activity' usually coincide with sudden spikes in sales when you really need them.
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Old 08-25-2009, 03:51 AM
pmorrison2588 pmorrison2588 is offline
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I have no choice sometimes. Because different site deals with different payment processors, and I need to maintain accounts there. The main problem that I have is in encashing the money from them.
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Old 08-25-2009, 12:11 PM
John John is offline
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Paypal is the only way I am receiving payment online right now, but I am truly looking for good service with less charges.
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Old 08-26-2009, 05:40 AM
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Hi Michael, Its very good information payment processors and very useful. Thanks a lot for this and keep sharing.
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