The Best Way To Get Paid Online
“What's in this for me?” You're probably asking yourself that question right now. What's in it for you? How would accepting credit card payments online help your small business? The answer is simple: increased revenue, reduced costs, and less time managing finances.
Online payment processing is a very competitive industry. You can expect to have a lot of providers to choose from. There are, however, a few things you should do before choosing one:
- Compare the rates and fees offered by different providers. Do they offer what you need? What about customer service or security features?
- Check that the payment provider's website is secure and encrypted. If your customers' data is stolen, then this could be harmful for your business.
- Check that the payment provider's website is easy to use , and that processes are clear. Your customers will judge you based on how easily they can do business with you. If your site looks complicated, then they might just shop elsewhere.
With the above in mind, let's talk about how we can actually go about accepting credit card payments online:
Option A: Set Up A Merchant Account On Your Own
You can set up a merchant account on your own. This option has several benefits and drawbacks. The biggest benefit is that you do not need more than one account. Also, if you decide to expand your business, you will already have everything in place. Not to mention the fact that the setup process itself is fairly straightforward.
The biggest drawback is that you will need to be very familiar with how payments work. This means having a good idea of the rates and fees involved, as well as knowing what your customers expect from you whenever they place an order. Another potential issue is that you will most likely be working with fewer payment providers than if you set up shop elsewhere.
Option B: Online Payment Processing Gateway
You can choose to sign up with an online payment processing gateway. You could visit this page for a list of the top providers. Payment gateways have become very popular over the last decade because they make it extremely easy for small businesses to accept credit card payments online. All you need to do is contact a service provider, choose how you would like to receive your money, and start selling.
The biggest advantage of this is that the signup process only takes a few minutes. However, there are some drawbacks as well. The main drawback is that you will need to be familiar with these payment providers' rates and fees. It's also important to check what kinds of merchant accounts they offer.
Option C: Choose To Work With A Company
You could also choose to work with a company that offers all of the above services. This way you can set up your service in no time at all and be ready to start earning money right away. Just like with payment gateways, they provide you with everything you need and handle most of the work for you. This means that all you have to worry about is marketing.
The biggest advantage to this kind of provider is convenience. Most providers do everything in-house, so there's no need to deal with multiple parties who specialize in different kinds of services. The best part is that you can be sure your provider has enough resources to handle all of your customers' needs no matter how large your customer base becomes.
The biggest downside to this option is the cost. While there are cheap providers out there, most companies charge a significant amount for their services. The advantage they have however, is that it's much easier for them to get the equipment and software they need than it is for you.
So what kind of business should I go with? Well, that depends on your needs. If you're just starting out and don't know where you will be selling, then a gateway might be good for you. If you like to plan ahead, partnering up with an all-in-one provider might be best.
The Truth Is, We’ve All Been There
There are times when you want to sell something and no one wants to take your credit card number over the phone or online. We get it; we don’t like giving out our information either! But what if we told you that with a Sharp Tack Media account, not only can your customers pay for their purchase using cash on delivery but also by credit card? That means more convenience for them and easier accounting for you. We know that investing in an e-commerce store can be daunting so call us today and let us help make this happen together!
