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Internet Payment Services

Over the last three years there have been a number of initiatives on the Online Payment Front. Ever since the dawn of e-commerce, Credit Cards have ruled the roost. However, credit cards, while great for day to day purchases in the physical world, came across one big problem in the virtual world.

Credit cards have managed to take care of security through signatures and photocards. But in the virtual world, how is anyone supposed to check the signature or the facial features of someone logging in from half a world away? Credit cards are not as common in Europe as in the USA. Many Internet buyers might not be able to get a Credit Card easily (like minors, but being a big percentage of the internet market). So as you can expect, the credit card number and PIN numbers were the only proof of identity. This meant that security became a big concern, so much so that Credit card companies started charging higher for Internet enabled merchant accounts (the account the merchant needs to accept credit card payment on the Internet). This meant that credit cards became too expensive for smaller purchases. This brought in a host of new payment systems which have sprung up focusing on increased security on the net, or facility for micro payments (up to 10 cents) or both. As in any new area, the number of new entrants is increasing exponentially with equally large numbers exiting within a year or two (StormPay, IntGold, GreenZap to just mention a few).

There are many, easy to sign up, payment systems. It is more complicated to find a system to receive money for products or subscriptions you are selling. It might be even more complicated to fund some systems to start buying with.

You may have just completed your sales letter on your web site and preloaded your auto responder with your messages. However you may not have thought about which internet payment system to use with your web site. If you are selling an eBook or downloadable software there are many options that you may want to consider depending on the product that you are selling. The most important thing being that you want to make it easy for your customers to order within three clicks and also want to protect your software if you are selling shareware products from being pirated.

Our most favorite credit card processing system to use is PayPal. The reason for this is that many people will only buy online using this method (the reason why eBay purchased PayPal). They already have their credit card details stored in PayPal and are too lazy to type it in again. Regardless of what you read about PayPal if you are not using this on your web site you are losing sales. But PayPal will not longer support MLM companies or products using a multilevel payment structure.

Our second recommended method for credit card payment is 2Checkout. The reason for this is that once you have submitted your application and paid the processing fee you could literally be up and running within minutes. They make it that easy for you to get setup. However, you still need to have scripts which do the back end for you like downloading eBooks etc…

If you are selling software using the shareware method you may want to use payment systems like SWREG where they also help you to protect your software. There are other payment options like Kagi where you set up a Kagi store and the administrators help you with the back end where they customize your storefront and allow buyers restricted access to download your products. Sometimes getting the back end scripts to work with your payment system can be a real pain and if this saves you all that trouble it may be worth a look.

When you implement your payment system you need to test it and make sure that it works with your back end. Also try to offer many different payment options as possible as many people do not use credits. The more options you offer like money orders and telephone billing you can increase your sales by more then twenty percent.

Here are some of the key players to watch out for:

PayPal
Pay anyone with an email address or phone number – instantly! PayPal is the simple and convenient way to pay. Use your bank account, credit card, or PayPal balance. Choose from 16 different currencies. Pay for goods and services. Pay for an eBay item.
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AlertPay

Send money to anyone with an email.  Once you are an AlertPay member, you can login to your AlertPay account and initiate a transfer to another AlertPay member (assuming you have sufficient funds in your account already). AlertPay members can send money to non-AlertPay members. These Non-AlertPay members will receive an email informing them that they have received money through AlertPay and that they must complete the FREE registration process to claim their funds.


SafePay
You may make a purchase through more than 10,000 SafePay Solutions suppliers. The products are instantly delivered to to you from SafePay’s servers. If you have a digital product or service to sell, consider the benefits of becoming a SafePay Solutions supplier and take advantage of our fast & accurate tracking system and product delivery services


SolidTrustPay
SolidTrust Pay is one of the most flexible and inclusive payment processors on the Internet. NO gateway, monthly statement or application fees! 99% business approval rate – instant account creation. Flexible Purchasing Options Visa/Mastercard, Certified Cheques/Money Orders and Bank Wires, VirtualMoney Debit Card, and Direct Bank Account Low Fees – Fast Withdrawals. More cash in your pocket! Withdraw easily to many options, including the fully insured VirtualMoney Debit Card.


e-Gold
Immediate payment no waiting for checks to clear or credits to be made. No chargebacks “Get paid, stay paid” unlike credit card payments. Low fees lower than credit cards or competing payment services. Available Worldwide the world’s first truly global payment option.