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A Quick Guide to Accepting Payments Through the Internet

A Quick Guide to Accepting Payments Through the Internet

There are several methods of receiving payments online, some of which are simpler, some of which are more costly, and others that provide methods of accepting online payments and paying affiliates without having to follow them yourself.

Accepting payments online may be a minefield, and as the number of online payment processors increases, the decision of which online payment processor to choose gets more complex. In this section, we examine the advantages and disadvantages of three of the most popular online payment processors.

Paypal is one of the most popular and generally recognized methods of taking payments online. It is also one of the most extensively used. It's probable that everyone who has used Ebay has already come across PayPal, even if they haven't signed up for an account with the service yet. Pay Pal enables an online business to receive quick payments from clients, either directly from their PayPal money or via the use of a credit card. This, paired with its high visibility and widespread usage by Ebay, makes it a suitable payment processor for new internet marketers who are just getting started.

Pay Pal also provides you with simple options to generate buttons and sales links to sell your items, and in the case of digital or downloaded products, PayPal may be configured to take customers directly to the download page, eliminating the need for you to perform any delivery labor. Consider the costs associated with PayPal, which takes a portion of every transaction that is completed via their platform. Fees can quickly add up and reduce your bottom-line profitability.

Another popular payment processor among internet marketers is ClickBank, which accepts credit cards on your behalf and offers a variety of additional services.

The built-in affiliate network of Clickbank, which also has a large number of affiliates shopping for items to sell for commissions, makes it a favored payment method for certain merchants over PayPal.

Clickbank makes it simple to set up an affiliate program and pays your affiliates directly on your behalf. Clickbank can also provide immediate downloads, similar to what PayPal can do. It appears to be the answer to all your online sales needs because it already has a large army of affiliates and people creating search scripts to find products in the Clickbank marketplace, but unfortunately, Clickbank has made it difficult to sell more than one product, so you either need another account each time you want to sell something, or you need to put all your products on one page for affiliates to send their potential clients to.

Another point in Clickbank's favor is that they have lately begun accepting payments via PayPal, which means that your consumers and affiliate customers will have a greater variety of payment alternatives.

If there is one disadvantage to Clickbank, it is that you may only sell digital items via their system. Thus, if you want to sell tangible things such as books or DVDs, you will need to search elsewhere.

The usage of an online credit card processor such as 2 Checkout (AKA 2CO) is another alternative. This processor allows the user to take all types of credit cards and can be "wired into" a variety of shopping cart scripts for use on websites. Despite the fact that it does not have an affiliate network of its own, 2Checkout does not prevent you from utilizing multi-level affiliate programs, unlike Paypal and Clickbank, which are both restricted in this regard. The costs imposed for each transaction are where 2Checkout falls short of the competition, but you only have to pay a one-time setup fee, unlike other credit card processors that charge a one-time setup fee as well as a monthly or annual membership fee.

The options listed above are only a few of the options accessible to online marketers who wish to accept payments online. Each has its own set of advantages and disadvantages, so you must consider your goals and pick one or two of these services to get started selling your items on the internet. Initially, choose the one that best matches your company model and budget; you can always look into alternative methods of accepting payment later, but for now, these will get you started quickly.

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