When you are in business of any kind that sells products, you want to be paid. This includes getting paid online.
For an online business you must set up a method to receive payments for every transaction – in other words, a payment processor.
This is a service that can handle the financial aspects of your business. The service no only ensures that you will get paid, it also manages invoices and issues receipts. It will make your life so much easier.
The big player in this industry is PayPal. You have probably used the service yourself as a buyer. It is a solid company with a proven track record when it comes to payment processing.
You must decide which service you want to use; however, there are some features you definitely need:
- The ability to process a high volume of payments. This is particularly important is have a membership site. Your payment processor must handle recurring payments.
- The ability to integrate your payment processor to other aspects of your online business is also a great advantage. For instance, ClickBank can process affiliate payments in an instant. Google Checkout is great if you have and AdWords account.
In other words, you need to look at several choices. Decide on the services you need for the type of business you are building, and then, choose a payment processor that will meet to your needs and expectations.
A processor should help you – not complicate your life.
Be sure to select a processor with your customer needs in mind. It should be user friendly – in order words, easy to understand and use.
The goal is always to promote easy transactions.