PayPal Alternatives: "Do You Have a Backup Plan?"
By Merle McPromotions.com (c) 2005
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:
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:
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:
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) Ikobo:
With merchant fees at $2.99 plus .29 per transaction, and no
extra fees for international transactions. You can sell to
buyers in 170 countries. Payments are deposited to your bank
account or to your Ikobo Visa debit card.
5) 2CheckOut:
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:
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:
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.
8) ProPay:
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) Ibill:
For businesses selling services and subscriptions. Gives you the
ability to accept payments by Visa, MasterCard, Discover, JCB,
Online Checks, even by phone via a special 900 toll free number.
Fees vary, but if you reside in the U.S. and your sales are from
$0 to $9,999, the charge is 15.19% in a billing period.
10) Money Bookers:
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.
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.
================================================================
"Must Have Marketing Resources" by Merle is loaded with VALUABLE
online resources you need to know about, when it comes to running
your web business. Get your copy now at ...
MC Promotions.com
================================================================
|