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November 18, 2009

Choosing an Online Payment System

Choosing Online Payment SoftwareThere are a number of reasons why your business can’t succeed without online payments. If you place your business online, it is absolutely essential to ensure that you have an online payment system where your customers can easily purchase the products and services that you have to offer.

When you set up an online payment system, you will immediately notice a drastic increase in your overall sales. Here are some steps that you will need to take to get this going, as well as some advantages associated with doing this.

Choosing an Online Payment Processing System

Choosing an online payment processing system can be a challenging task. However, it is one that is well worth the time and the effort. When developing your online payment processing system, consider the following:

  1. The very first thing that you have to do is determine how much money that you can budget in each month that will pay for your online payment solution. Many of these systems will require that you pay a startup fee, as well as a monthly maintenance fee. Be certain that you read the complete terms of agreement (the small print) prior to committing to this monthly subscription.
  2. The next thing that you will need to do is calculate how many sales, on average, that your business experiences. This will help you to establish whether you need a simple online payment system or a relatively full featured (robust) system.
  3. When choosing an online payment system for your business, it is absolutely imperative that you make sure the service is PCI Compliant as well as secured protection for your existing as well as potential client base.  Don't ignore this tip - it's important.

Advantages of an Online Payment System

When you have an online payment system for the business that you conduct online, there are a number of advantages. The following outlines why your business can’t succeed without online payments:

  1. Having an online payment system will allow your customers to pay quickly and conveniently without the hassle of paying by check and money order. This means that you are more likely to experience more sales overall. (Also cuts down on returned checks as well as bogus money orders.)
  2. Having this system in place can actually enhance your credibility as an online business.
  3. The speed of the transactions not only satisfies your customers, but it will also increase the speed in which you experience profits as a whole.

Conclusion

As you can see, there are many reasons why you should implement the use of an online payment system. It's vital to the success of your business and it truly helps to work smarter, not harder.

Contact me for a free 15 minute ecommerce solution consultation, I look forward to answering all of your questions.

Regina Baker - Ecommerce Solutions Expert

Regina Baker - Ecommerce Solutions Expert

Regina Baker is the co-creator of Wahmcart and the Ecommerce Solutions Expert for Group Mastery.  She created Wahmcart as a full ecommerce software solution for work at home moms without the huge price tag. She's dedicated to educating the small business individual (sole proprietors) and companies with ecommerce solutions that will allow them to work smarter, not harder while at the same time providing an affordable solution that the “average” person can afford.   More about Wahmcart

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