How To Set Up An Online Payment System
Jim Green is the author of the bestselling Starting Your Own Business also published by How To Books, and has started and successfully run more than one small business. He is based in Glasgow.
If you fail to set up a system to accept credit cards at your website (which you can do without obtaining merchant status) you will not get many sales. However, before we launch into a review of credit card processing systems it is worth noting that despite growing universal usage there is still uneasiness among consumers about disclosing credit card details online. The following extract from a survey published in March 2004 highlights this concern.
Food for thought, but bear in mind that this survey relates mainly to the North American market where online users are more attuned to purchasing by credit cards. A similar study for the UK where users are less attuned and even more cautious might paint a bleaker picture. Even so, you need to be tooled up to accept credit card payments and to assist you in selecting a system compatible with your requirements starting on the next page is a review of seven leading processors.
REVIEWING THE LEADING PAYMENT PROCESSORS
OPTING FOR EITHER OF THE TWO MOST FAVOURED FACILITIES
Of these options I personally feel more comfortable using the first and last: Paypal and Clickbank. They are reliable, ultra security conscious, provide excellent account facilities, and always pay out on the due date.
MAJOR DRAWBACK AND HOW TO OVERCOME IT
ClickBank offers a magnificent service and I’ve always used it as my prime payment processor. It’s fast, efficient, and above all, universally accepted. However, if you promote a multitude of digital products it has one much-heralded drawback. Either:
- 1.You are required to fork out another $49 every time you introduce a new creation on a disparate location, or ...
- 2.You are required to host all of your merchandise on one website.
Not any more; at least certainly not for me. You see, I have developed a safe, legitimate method of selling all of my ever-growing produce using ClickBank on a single fee of $49.
You can learn more about my secret system at this website: