Many people think that in order to do business online
you need to have an expensive merchant account to
have the ability to take payments by credit card from
your customers. Nothing could be further from the
truth. Merchant accounts can be hard to get and the
monthly fees can really add up.
So what’s an honest Internet Entrepreneur to do?
The answer for most is Paypal.com. It’s easy to
set up an account, and fees are low and depend on
your monthly sales (for most it will be 2.9%
and .30 per transaction). You’ll find most Net
users trust and use PayPal for their everyday
purchases, so they won’t have a problem using
it on your website to purchase from you.
However, relying solely on PayPal.com for your
business can be risky. Should you ever lose
your PayPal account or you have it “frozen,”
your online income will come to a screeching halt.
You need a backup plan; another way to accept
payments — or you’ll have to close up shop.
This is the same thing as relying on one stream
of income. If you lose your job your only source
of revenue dries up as well. That’s why multiple
streams are best to keep you in the green.
So who are some of the others? I thought
you’d never ask:
1) Bidpay: http://www.BidPay.com
This service is available only for those who buy
and sell at online auctions. Buyers use their
credit or debit card to make their purchases
from you and BidPay sends you a Western Union
Money Order or the payment is directly deposited
into your checking account if you live in the
2) CCNow: http://CCNow.com
A shopping cart solution that also allows
you to take all major credit cards without
a merchant account. They pay you your earnings
twice a month and while your money is sitting
on account it earns 1.5% APR.
3) DigiBuy: [http://www.DigiBuy.com]
For those who sell software. Puts you in
control of pricing, order forms, and delivery
options. Pricing varies with two service levels
to choose from. Your earnings are paid to you
monthly minus their 13.9% per transaction fee
($3.00 minimum). Digibuy allows you to accept
payments by Visa, MasterCard, Amex,Discover or
4) Ikobo: http://www.IKobo.com
With merchant fees at $2.99 plus .29 per transaction,
and no extra fees for international transactions.
You can sell to buyers in 170 countries. Pay-
ments are deposited to your bank account or to
your Ikobo Visa debit card.
5) 2CheckOut: http://www.2CheckOut.com
It will run you $49.00 to open an account, then
it’s .45 per sale and 5.5% of the sales amount.
Includes free shopping cart and codes to add
to your website. Will also work with your existing
shopping cart if you just need a way to take credit
card payments. Can be used for tangible or digital
download products. With 2CheckOut, you can take
payment from all credit cards and even check and
debit card payments.
6) ClickBank: http://www.ClickBank.com
A great service which I’ve used for years.
Good for selling digital products and comes
with a built-in affiliate program. You’ll have
to pay a one time fee of $50.00, then it’s only
$1.00 plus 7.5% of each transaction. Allows you
to take payments from all credit card types.
7) ShareIt: http://www.ShareIt.com
For selling software and shareware online. Your
customers can pay by credit card or debit cards
even checks. Receive your money by check or
electronic transfer to your bank account. Fees
are based per transaction with no monthly charges.
8) ProPay: http://www.ProPay.com
Accept payments by credit card via the web or
even by phone. Funds are deposited into your
ProPay account. You can get a ProPay MasterCard
to access your funds or transfer your
earnings to your bank account. They have four
types of accounts to choose from: Basic, Premium,
Premium Plus, Platinum, with annual pricing
from $34.95 all the way up to $299.95, depending
on the features and type of account you need.
9) Ibill: http://tinyurl.com/3oc88
For businesses selling services and subscriptions.
Gives you the ability to accept payments by Visa,
MasterCard, Discover, JCB, Online Checks, even
by phone via a special 900 toll free number.
Fees vary, but if you reside in the U.S. and
your sales are from $0 to $9,999, the charge
is 15.19% in a billing period.
10) Money Bookers: http://moneybookers.com/app/
Money Bookers offers a merchant feature that allows
you to create order buttons for your website and
be paid by credit card. Fees range from 2% all
the way up to 8%, depending on how payments are
made. No setup or monthly fees. You can accept
payments from over 30 countries. Money can be
transferred instantly to your bank account.
Don’t wait for disaster to strike before opening
another web based payment account. Like a “good
scout,” you want to be prepared in the event you
need a backup. You never know what tomorrow will
bring so get your house in order now.