When you first want to start accepting payments on the internet it can be quite confusing with traditional business advice stating you need to open a business bank account with merchant facilities and bank managers all fighting to get you locked in to their specific system.
The truth is often far different from the scary picture that is painted by many, at least when you start out. PayPal is one of the most popular online payment processors and is the first choice of thousands of business owners, big and small, around the globe.
To set up an account you will still need to have a ‘real world’ bank account but you can send and receive payments via your PayPal account in many different currencies. You can even hold multiple currencies if your PayPal account at any one time if you have an international customer base. Getting started is easy and you can also plug in your PayPal account to a lot of other payment services so that they can manage more advanced features of your payment processing.
Once you have the basics handled with yout own PayPal account you might want to start looking for the more advanced functionality such as the ability to recruit affiliates or even host your own digital store rather than sell single items with a simple ‘Buy Now’ button.
The first method for taking things further is by registering an account with an online marketplace such as ClickBank. This gives you instant access to an established userbase, often including customers and affiliates. You will also be able to borrow the credibility of larger marketplaces meaning consumers can trust giving over their bank details more easily as they already have experience with the payment brand.
When you want a little more control, either by running your own store or manage your own affiliate program, you will typically need to start investing more into your payment systems. There are some great payment systems and shopping carts out there and most of the choice will boil down to what functionality you need.
Three Top Online Payment Systems
The simplest way to start accepting payments online. It is used & trusted around the globe by millions can still pay even if they are not a registered user.
A marketplace for digital products that manage the entire payment process for you. It also has a huge network of active affiliate marketers.
Slightly more involved however you also get a lot more cutomisation options and extra functionality. Worth it if you want to manage everything yourself.