What’s the Best Way to Accept Payments Online? How to Choose a Payment Gateway

With the variety of options at hand to a business looking to make their products and services available to the online masses, this may be the first question you find yourself asking: What’s the best way to accept payments online? Subsequent questions might follow: What method will best suit my business visit https://www.piikanimoney.org/ and my customers? How much will it cost? Is it worth it? Each and every business owner may answer the first three questions differently, but for any business, the question of, “is it worth it?” can be answered with a resounding YES. No matter what business you’re in, there are ways to increase your revenue online, making your storefront available 24/7 to a world market. You’re not limiting yourself to local customers; you have the potential to expand your target market horizon indiscriminately. In this article, we’ll discuss the top two payment acceptance picks for retailers when they first make the decision to engage in e-commerce.

Recently, many brick-and-mortar-based companies have closed their doors due to the persistence of this country’s poor economy. Storefront locations carry with them the burden of high overhead and the absolute need to draw in sales or face closure. Smart retailers have been able to absorb some of this loss by shifting their focus from selling face -to-face to selling online. They’ve also been attracting lots of new, loyal customers to their online storefronts, picking up previously unavailable customers due to the presence of their now-extinct competitors. People are not only shopping online from the comfort of their own homes these days. Seeing as how we live in an “I want it NOW” society, the market is shifting even more towards mobile e-commerce sites. A potential customer might be stuck in traffic and remember they need to order a tail light for their truck. The company that gets this business is the company that extends itself to the customer in need on the spot. Just thinking about the potential situations where a buyer would make use of your online shopping platform could spawn a list consisting of hundreds of examples, but none of this means anything if you’re not ready to accept online payments in a safe, secure environment.

Let’s first look at what is most commonly recommended as the “newbie’s” go-to option for accepting online payments: PayPal. Known worldwide for its integration with (and as a property of) eBay and its ease-of-use, PayPal ends up being the choice of a majority of new merchants’ online payment gateways. A payment gateway is defined as an e-commerce application service provider that authorizes payments for businesses online. PayPal might be a good fit for your business at first and help you get the hang of selling and processing payments online, but in the e-commerce world, it’s not seen as a desired permanent solution. One of the major pluses of using PayPal is that they don’t charge a monthly account maintenance fee. This may be important to you if you’re just starting out in e-commerce and are unsure of how much online processing you’ll really be doing and whether it’s worth investing in a more professional payment processing option. If you intend to sell your wares on eBay, you definitely need a PayPal account to accept payments through the auction site. If you have submitted payments through PayPal in the past, it’s quite simple to transition your account to be able to accept payments, as well.