How to accept credit cards online?

When running an online business, you want to make it easy for people to pay you money and to make payments from your website.  This means customers need you to accept credit cards online so they can pay online and in order to do that you need to set up a payment system that is trustworthy and reliable.

There are two types of payment systems.

• Merchant accounts – Accepts all major credit card payments online
• Third-party payment accounts – Both customer and supplier need to be members to make payment

Traditionally, to set up a merchant account, you would go to the bank and pay hundreds sometimes thousands to set up the merchant facility that links your business account to a credit card facility.

Bank merchant facilities often have to be set up in the country you are operating from, which means bank fees, merchant fees, and international fees on each transaction. You can begin to see that it is quite an expensive exercise if you go down the traditional path.

An alternative to setting up a merchant account facility with your bank is using a third party service such as PayPal.  They charge a small percentage of each outgoing transaction, thus avoiding the initial capital outlay, monthly fees and high transaction fees.

One of the most widely accepted and best ways of receiving money online is Paypal which provides a gateway service for money transfers.  For a complete online merchant 2Checkout is highly regarded and well known for accepting credit card payments at a fraction of the cost of setting up a traditional merchant account.

Both are highly reputable and offer many services above mere money transfers, particularly with 1shoppingcart. I have tried several other merchants and found these two to be the best in the market place.

If you are selling online, I would highly recommend having both accounts set up, however, if you don’t intend to sell online, I would still recommend Paypal because its free to join and I receive a lot of my affiliate payments via PayPal at no cost to me.

Here’s how to set it up:

1. Open a business bank account
2. Join Paypal
3. During web design join 1Shoppingcart so you can integrate it with your website
4. Join 2Checkout – Allowing you to receive credit card payments online.

Now you’re completely ready for people to shop on your website, you can give your customers a range of popular payment options to purchasing from you, thus increasing your sales overnight.

This is easily the cheapest way to accept credit cards and set-up an eCommerce website. If you are looking to set up a HUGE website, I would still use both Paypal and 1Shoppingcart, but I would suggest getting a traditional merchant account, seeing that you would have the money to do so anyway.

• Third-Party Account

The easiest way to start receiving credit card payments from your customers, however they must join the merchant if they don’t already have an account.

4 Steps To Setting Up a Third-Party Payment Account

1. Find a third party merchant – there are many, choose one that is widely accepted and provides great support.  PayPal is the leader here.
2. Join for free – register your details to start accepting online payments
3. Add facility to website - add a link that so your customers can clearly see that you use a third party merchant. They click on the link and make a payment to you.
4. Create a link so others can join the third party merchant – your customers must have Paypal to send you money and they make it very easy to join.

How it works:

• Merchant Accounts

If you want to accept credit card payments and want software that will support a fully operational online business. Look at 1shoppingcart, an online merchant support facility.

4 Steps To Setting Up An eCommerce Merchant Account

1. Find a reputable merchant account - check to see if they offer all the features you need to operate your site.
2. Join and pay the set up fee - you will be charged a monthly, sometimes an annual fee to maintain the account.
3. Add the facility to your website or 1shoppingcart and add your shopping cart links - adding the shopping cart to your website can involve some programming but most of the set up guidelines are provided to you as part of join up package.
4. Track your sales online with the 1shoppingcart software - quality merchants allow you to track your customer movements all the way through the sales process, they also allow you to set up online affiliate programs and automatically send out emails to your customers.

How it works:

• Step 7. Host websites
  
• Step 8. Outsourcing advantages