April 30, 2008

Accept Credit Cards with Paypal for Your Online Business

If you have a small online business, expand it by processing credit cards. Many small merchants online could sell much more if they would allow their customers to accept credit cards.

For years very small online merchants could only take money orders or checks to pay for goods and services. Most credit card processing companies would charge hefty fees just start an account with their bank and then charge exorbitant fees for each purchase. These business practices pushed most small businesses out of the market for credit card processing.

Today, things have changed, not only is it easier and much less expensive to offer credit card processing, there are other alternatives as well that take credit cards and other forms of payments.

Paypal has definitely changed the landscape on how online payments are exchanged between merchants and buyers. Paypal can easily exchange payment between a buyer and seller through the use of email. Paypal keeps all payment information such as credit card numbers and bank information on their private servers. They act as a middle man between two people that want to enter a transaction.

Paypal is free for buyers to start using and costs about 3% for the entire transaction, which is paid by the seller. This makes it very appealing to small merchants who do not have to pay large start up fees and monthly fees. Paypal also accepts credit cards so you do not have to worry about slow types of payments. So if you are looking for a great way to perform an online transaction, look into Paypal.