Today’s guest post is by Cara Aley
Please note the information is more specifically for entrepreneurs and included due to the importance of the material.
Pointers for Selecting an Online Payment Service for Your Business
Selecting the right online payment service for your business doesn’t have to be difficult. The options have improved immensely for how your business goes about processing credit cards and online transactions in general. The biggest thing to remember when selecting your online payment service is to consider and compare the transaction fees associated with each service. They vary from one to another, and can really add up for SMBs.
Here, we’ll review the best online payment services available.
Make online shopping a cinch for your customers by selecting one of these great online payment services.
Intuit offers an extremely flexible online payment service. With no long-term contracts and low monthly fees, you have the option to swipe a card with Intuit’s mobile card reader, to manually enter a card number, or have the customer do it themselves in your e-commerce store. Deposit of payment is automatic in your bank account (as compared with some providers that deposit with a specific cadence). Intuit Merchant Services also syncs with QuickBooks and saves you time in reconciling the payments!
Intuit charges 2.98% plus $.30 per transaction, and additionally a $12.95 monthly recurring service fee.
Stripe is a fantastic service for all sizes of company, including SMBs. Stripe has the ability to store card information and subscription information, and IT is extremely easy to implement. With a copy-and-paste API, you’ll be up and running in no time!
Stripe charges 2.9% plus $.30 for every charge. Thee are also no set-up or enrollment fees, no refund or card storage fees, and no extra fees for American Express charges – there is, however, a $15 fee for chargebacks.
Paypal is one of the most common online payment service offerings selected because the service makes the payment process so simple for users. The service is great for a business because even though the likelihood of losing the customer is a bit higher since they are being taken away from your website to complete the transaction, their information is already stored in Paypal. This makes completing the transaction more efficient for the customer. Paypal also has two-factor authentication, requiring businesses to enter both a six digit code and a password, reducing issues of security fraud.
Paypal charges 2.9% per transaction plus $0.30.
Formerly Google Checkout (which expires November 13, 2013, and transitions fully to Google Wallet), this service is fantastic for merchants. Allowing for sales in over 140 countries, Google Wallet is a simple way to allow for online transactions. There are security measures in place for merchants in the form of Google’s Payment Guarantee Policy. The policy ensures that when an order is guaranteed, the merchant gets paid even if the order doesn’t go through.
Google Wallet’s merchant fees are the same as those mentioned above (2.9% plus $.30 per transaction) until you sell more than $3,000 worth of merchandise – then the fees start to decrease.
Be sure that shopping cart gets paid for by providing simple checkout process for your customers!
When selecting an online payment service for your business, it’s important to select one that your customers can trust. All of the services we’ve recommended are highly reputable from a security standpoint. Additionally, they provide relatively low transaction fees and general simplicity in the implementation process, which are important considerations when evaluating a provider.
Do you have a great online payment service to recommend? We want to know about it!
Cara Aley is a freelance writer who covers a variety of topics ranging from digital marketing strategy to how to deal with problems with Ripoff Report.
_______
May you always enjoy a Smooth Sale!
For more on sales and leadership, attend our Las Vegas Retreat to fast track business, click here: Make Your Vision a Reality
Read Addtional Strategies and Techniques:
INSPIRED Business A New Vision for Building Business and Communities, Motivational Press
Nice Girls DO Get the Sale: Relationship Building That Gets Results, Sourcebooks
HIRED! How to Use Sales Techniques to Sell Yourself On Interviews, Career Press
