How To Accept Credit Cards Online
by Jim Edwards
Anyone with an online business, whether for auctions,
services, or virtually any type of product, has asked the
same question at some time during their quest to create
the ultimate online business - "How do I accept credit
Since over 90% of all transactions on the Internet
involve customers paying by credit card, accepting
plastic money rates a must for almost any business.
The problem for most small online business owners
involves the high cost of setting up and maintaining a
credit card merchant account.
With startup fees ranging from $200 to $500, minimum
monthly fees of at least $40 to $50, plus per transaction
fees and a percentage of sales, most people who want to
supplement their income online or test an idea can't risk
that kind of money.
Add in credit checks, 48-month service contracts,
expensive equipment purchases or leasing, financial
statements, and last 3 years' tax returns and most people
throw up their hands and give up before they even get
Fortunately several companies responded to this problem
with unique solutions that enable smaller online
merchants to accept credit cards at a fraction of those
high startup costs with no long-term commitment, no
equipment purchases, and zero minimum monthly fees.
~ PayPal.com ~
PayPal has gotten some negative press over the last
couple of years, but that press has been mostly
PayPal makes it easy for you to collect money for your
online sales, send money to merchants, bill people
monthly, collect dues and donations and integrate a free
shopping cart into your site.
Of all the payment and money transfer services online,
PayPal ranks as the absolute lowest in cost and the
easiest to set up.
PayPal allows merchants to sell physical and downloadable
products along with personal services.
~ ClickBank.com ~
For a $50 one-time fee ClickBank enables online ebook,
software and other electronic information sellers to not
only accept credit cards, but provide instant delivery of
their products to online purchasers.
ClickBank allows any merchant to accept virtually every
major credit card on the planet.
The online merchant simply adds a purchase link to their
site, the customer clicks the link, fills in their
payment information and the credit card gets authorized
on the spot.
Once the card gets approved ClickBank redirects the buyer
to a page that enables them to download the ebook,
software, or other product they have just purchased.
ClickBank also operates a fully integrated affiliate
program that automatically pays affiliates who sell your
products for you.
ClickBank heavily restricts what merchants may sell
through the service and does not allow the sale of
~ PaySystems.com ~
Of the three, Paysystems behaves most like a traditional
credit card merchant account.
The service allows the merchant to integrate with a
number of third-party shopping carts as well as use the
PaySystems shopping cart system.
Merchants pay a small transaction fee and a percentage of
the sale, but don't sign up for any long-term service
contracts or equipment leases.
Jim Edwards is a syndicated newspaper columnist and the
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