To some doing business online can be an intimidating undertaking because it is assumed that you need to have an expensive merchant account to accept credit card payments from customers. Merchant accounts can be difficult to get and charge lots of fees for transactions that add up, especially when transactions vary from month to month. There are several options that you can pursue if you want to sell merchandise online or would like to accept credit cards as payment for services. Here is a list of options to consider:
PayPal: This is one of the most popular online payment services. Most people trust and use PayPal for everyday purchases. It can be used to accept or send payment for purchases. It is easy to set up an account. Fees are as low as 1.9% – 2.9% and .30 per transaction.Checkout payment processing for businesses for more info.
BidPay: This service is for those who buy and sell at online auctions. When an auction is over, winners visit Bidpay.com and simply enter the auction details and payment information. Payment is sent to the seller either by mailing a Western Union branded money order or, if the seller is located in the U.S., by sending a payment directly to the seller’s U.S. checking account. It’s that simple!
CCNow: A shopping cart solution which allows you to accept ALL major credit cards. There is no need to have a merchant account. You receive payments twice each month and while your money is sitting on account it earns 1.5% APR.
DigiBuy: A complete software and shareware registration service that allows you to set-up, modify, and add products at your convenience. Puts you in complete control over pricing, order forms, and delivery options. Payments are made to you on a monthly basis for sales minus the 13.9% transaction fee ($3.00 minimum). DigiBuy allows you to accept ALL major credit cards.
ProPay: Can process credit cards through the internet any touch-tone phone. Gives you the flexibility you need to process transactions on the go or a home quickly and conveniently. It’s perfect for: mobile businesses, trade shows/fairs, garage sales, taxi cab drivers, construction sub-contractors. Four type of accounts to choose from: Basic, Premium, Premium Plus, and Platinum. The minimum annual fee is $34.95 to the maximum of $299.95. Processing fees range from 3.50 + $0.35 to 2.69% + $.0.25. Each account has different features to consider.
iKobo: System allows people to send and receive money in over 170 countries. Receive money from anywhere in the world. Send money with iKobo and they send out an iKobo iKard – a VISA card that you can use to get cash and make purchases at any VISA location or VIST ATM or cash machine worldwide. iKard fees range from $0.99 to $2.99 and money transfer fees from $3.00 to $5.00 + 3%.
Moneybookers: Moneybookers enables any business or consumer with an email address to securely and cost-effectively send and receive payments online – in real-time! Use Moneybookers to: Send money via email from your credit card or bank account, make online payments, and collect money via email. Fees range from 2% to 8% depending on how payments are made. No set up or monthly fees. You can accept payments from over 30 countries. Money can be transferred instantly to your bank account.