You will find only a few people using cash, nowadays. In fact, the largest percentage of the United States monetary supply is in electronic form. This scenario can be very possible because almost all payments are done electronically--from receiving salaries to shopping in malls. This can be good news, especially since cashless payment through credit card payments is so convenient and safe. The possibility of online payment made way for many stores to open up online to a limitless market.
However, online payments can sometimes be risky. Hackers are on the loose, and there are always threats for your prospective customers. Though many have success stories in purchasing products online, still, many buyers have had expensive experiences with online credit card hackers. For this reason many online merchants are continuously looking for the best software solution for secure online payment.
Fortunately, there are many software solutions and payment processors out there, like:
- Paypal Standard. This is undoubtedly one of the cheapest online payment solutions. With only a small percentage cost, you can receive payments from your customers. Just sign up for your online account--it's free, but you have to accept a certain agreement. The best liked feature of Paypal is that they can give you the exact HTML so you can add it to your website. Through this, you can have a "buy now" button for every item you're selling. Many buyers also feel safe using Paypal because they don't have to reveal their credit card information--they only need an online login.
- Clickbank.com. This is perhaps one of the most famous online payment options. Unlike Paypal, this option can be used inside your website. The client does not need to leave your page in order to make their payment. But before you can use this, you also need to create an online account and have to accept the site agreement. Once the online bill is paid, Clickbank.com will process the payment, alert the payer about his purchase, and hold the payment in your account until you have decided to transfer it to your online credit card, bank account, or a check. Another useful feature of this option is that you can add a "purchase now" link for every product. Clicking that will immediately transfer the buyer to the payment form. That form just needs to be filled out and once completed, processing of the payment will start. With this feature, you are allowed to offer affiliate programs without the fuss. Just like Paypal, this option does not require revealing the buyer's identity to process the payment. They just need an online login.
- Click and Pledge. This option is a bit more expensive than Paypal with its 4.75% share for every payment from your customers. This is why it may not be practical for you to use for receiving payments. But the best thing about Click and Pledge is that you can have this as an online bill form on your website. You can even customize its color and graphics easily so that it will match your website.
These three are just some of the most common and simplest online payment solutions and processors. There are more sophisticated solutions for credit card payment like payment gateway. But expect payment gateway and similar high-end solutions to have higher rates. Another option is to make your own online payment solution, which can be more expensive but may work best for your store.