Two Online Payment Processing Options For Home Businesses
By John Purfield
Do you want your home business to accept credit cards online?
However, you are not sure where to start? Obtaining a merchant
account is easy if you know what to look for and know what you
want for your business. If you own a home business, don’t feel
alienated by the need to accept online payments. Here are 2
online payment options that may be worth researching for your
home business.
PayPal is an online payment option available for all businesses
that have a PayPal merchant account. PayPal is a great way for
businesses to “test the waters” without having to pay overhead
or make a long commitment. Additionally, they only charge on a
per transaction basis. Pay Pal makes it very easy for
businesses to apply for an account. Also, they provide tools to
help implement the online payment option on your web site.
PayPal is a trusted name in online payment options and a very
popular form of payment. Your customer would click a button on
your web site to pay. Your customer will then enter their
credit card information on PayPal’s web site. Then your
customer is taken back to your site after the payment has been
processed.
Another online payment option is to have a merchant account.
Merchant accounts allow you to accept all types of credit
cards. The big benefit to having a merchant account is that you
can accept major credit cards as a form of online payment and
the entire shopping experience takes place on your web site.
Having control of the entire shopping experience provides many
benefits to your business. I believe the best benefit is that
your client does not leave your web site. There is less chance
of the shopping process to fail and you do not have to worry
about out site technologies that are not in your control.
Another major advantage is that all the data is in your data
base and available for your use. You can have custom reports
developed to analyze the data and use for your advantage.
Having a merchant account may require a contract period of 6
months to a year and there is also an approval process
involved. Depending on the bank that maintains your merchant
account, you may be required to pay minimal fees each month.
Even if you do not sell any products during this time you are
almost guaranteed to pay a minimum payment to the bank. In my
opinion an online merchant account is optimal if you plan on
building your business. However, you should know the costs and
commitment when you apply for one.
If you are not sure about what route to take your business, you
may want to start out with a PayPal account. A PayPal account
does not require a contract and there is no approval process to
get started. Once you have decided that accepting credit cards
is beneficial to your business, then apply for a merchant
account and build for the long term.
About the Author: Get valuable home based business information
and tips at http://www.beinbusiness.net.
Source: http://www.isnare.com
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