Customers who use the internet to shop are spoiled for choice, so if you don't offer them what they want right away, they will simply go someplace else. They expect different payment methods to be available, but credit cards get the most use because they are so convenient and the money doesn't have to be in a checking account right away. They also generate more revenue from impulse purchases.
Ecommerce sites may arrange to accept their customer's credit card payments by one of two ways. The first is by establishing a merchant account with the business owner's personal bank, the second to use a third-party service for processing the payments.
Internet businesses have a much harder time gaining approval for merchant accounts than brick and mortar retail businesses despite the fact that almost all banks offer merchant accounts and processing gateways to all of their account holders.
PayPal and other third party services do away with the need for an account with the merchant. They also offer real time payment and fund transfer into the account of a business owner for a small fee, which is usually a small flat rate plus a percentage of each transaction's sale.
Due to this, Paypal provides an excellent service that allows you to take credit cards, and it also provides a shopping cart that sites owners can install on their site, it also provides currency conversion in real time, and it is capable of taking payments in the forms of electronic debits or echecks.
PayPal and other third-party services present a more easily obtained method of banking for the newly starting small business. Their services are often also more affordable than typical banks and they are significantly faster at processing credit card transactions too.
Ecommerce sites may arrange to accept their customer's credit card payments by one of two ways. The first is by establishing a merchant account with the business owner's personal bank, the second to use a third-party service for processing the payments.
Internet businesses have a much harder time gaining approval for merchant accounts than brick and mortar retail businesses despite the fact that almost all banks offer merchant accounts and processing gateways to all of their account holders.
PayPal and other third party services do away with the need for an account with the merchant. They also offer real time payment and fund transfer into the account of a business owner for a small fee, which is usually a small flat rate plus a percentage of each transaction's sale.
Due to this, Paypal provides an excellent service that allows you to take credit cards, and it also provides a shopping cart that sites owners can install on their site, it also provides currency conversion in real time, and it is capable of taking payments in the forms of electronic debits or echecks.
PayPal and other third-party services present a more easily obtained method of banking for the newly starting small business. Their services are often also more affordable than typical banks and they are significantly faster at processing credit card transactions too.
About the Author:
Justin Harrison is a leading Internet Marketing consultant responsible for the Internet Marketing strategies behind some of the biggest online brands including Amazon, BBC, MasterCard and many others.
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