| The world of online commerce is just getting better | | | | PSiGate. |
| and one area that has particularly improved is that of | | | | The benefits of registering for an online merchant |
| payment options; we now have more payment | | | | account with third party merchant account providers is |
| options that ever before in the history of e-commerce. | | | | that you'll not be required to make any security |
| As an ecommerce entrepreneur your stakes are just | | | | deposits (as require by banks), the set-up is fast and |
| getting better; and to be truly successful in this | | | | they're flexible enough to be bundled with ecommerce |
| promising field you must offer your customers flexibility | | | | service packages which can include internet gateway |
| in terms of how they pay for their purchases online | | | | required for credit card processing "this is the |
| and that's in your website of course. | | | | equivalent of POS terminal" plus a shopping cart. |
| A study recently published by Cybersource Corp. | | | | The only disadvantage is cost. Their discount fees are |
| shows that online stores providing three additional | | | | particularly high than if you set-up your online merchant |
| payment options besides credit card reported a higher | | | | account via your local bank. |
| sales conversion rates as opposed to those that offer | | | | Wherever you get your Internet merchant account, |
| a single online payment option besides credit cards. | | | | you will have to also purchase an Internet gateway |
| This simply means that the more payment options you | | | | service. The gateway verifies information, transfers |
| offer, the higher your sales and the more money you | | | | requests and authorizes credit cards in real time. All |
| make. | | | | four of the companies I've mentioned above offer |
| Below are a number of online payment options you | | | | these credit card processing services as well, but |
| can offer in your website. | | | | there are many others that do too - including PayPal |
| Credit card processing | | | | and Moneybookers. |
| This is of course the staple of online payment. Credit | | | | PayPal |
| cards are still a popular way of paying for goods and | | | | PayPal is now also an all-in-one online payment |
| services online. To be able to use this payment option | | | | solution. Their Website Payments Standard program |
| on your ecommerce website to accept Amex, | | | | lets you accept Visa, MasterCard, Discover, and |
| MasterCard & Discover, you'll have to get an online | | | | American Express credit card payments as well as |
| merchant account. | | | | bank transfers and offer PayPal as well - with no |
| You can register for an online merchant account with | | | | monthly fees, setup or cancellation fees. PayPal |
| your local bank. Be informed that to be able to | | | | charges you a fee of 1.9 to 2.9 percent of transaction |
| process payment from all major credit cards in your | | | | plus 30 cents per order, depending on your company's |
| site, you'll have to register online merchant accounts | | | | sales volume. |
| with two separate banks. Reason: majority of banks | | | | PayPal also offers an upgraded version of Website |
| only deal with some of the credit cards involved. | | | | Payments Standard called Website Payments Pro, |
| Alternatively, you can register an online merchant | | | | where customers check out right on your site rather |
| account through a third party merchant account | | | | than on PayPal's (currently available only in the U.S. |
| provider like Moneris, Beanstream, InternetSecure or | | | | |