Residing in a rustic where getting a credit card is really as simple as buying out a local news daily in the nearby grocery store one would be easily in a position to capture an industry of plastic money holders. The strength of plastic money extends beyond boundaries of nations and it is indeed probably the most closest key to globalization. To this I'm reminded of the quote "Think Global, Act Local" policy.
Most of us realize that the any internet business that sells virtually any products is an international one and it has no boundaries unless it is a one that has high volume tangible products.
The web has made millionaires of people more then anything else in the past century and it is still a little true nowadays as well. Diligent work, honesty and consistency is paramount to any business and then any virtual business is the same.
What one really needs to cross the boundaries for a virtual business is a payment gateway or merchant services whichever one might make reference to. Though there is a difference however it is not important as to the we are discussing about.
There are many payment gateways and one could find it really tiring to search through Google for getting the best one in hand. You ought to remember that here we are talking about a payment gateway as a service provider is a third party whose services you could integrate to your website so that your clients are able to pay you for the products and services virtually and digitally. The payment could be through credit cards, coupons or any other means accepted by your 3rd party payment gateway. Here I would like to list a few of the payment gateways I am most familiar with, in addition to the many services out there.
1. PayPal - PayPal is really a number 1 choice of mine for a number of reasons, its simplicity and it is ease of use must be the most popular ones, and also you do not need to register as a business owner to avail this particular service. However, you have to remember that PayPal comes with its drawbacks as well. The fees of processing the instalments could go as high as 5.5% per transaction and they do have a transaction limit places on each registration which may be increased by credit card verification, address verification after which banking account verification. PayPal also provides with API services for individuals who wish to go deeper into developer services and it does integrate well with most shopping carts including the free ones such as Agora. Apart from this it will have its own shopping cart software system if anyone would want to utilize it.
As well as that it does have withdrawal options to the bank account along with the credit card.
There are a few countries though where PayPal is not yet available which is mentioned on there website, although payments could be accepted from most of the countries. Recently there has also been some restriction from the RBI in India on PayPal though it is not quite clear yet.
2. 2Checkout - 2CO is the most preferred payment gateways by the giants with all its packed features it does possess a few drawbacks. One needs to be a registered business and it has to pay a 49$ setup few per account. There are strict rules of the items could be sold and what not. Do checkout the website for details.
Withdrawing a sum from 2co is a bit tedious and it has to become carried out by a check or bank deposit though its done each week it has to meet the release level and pass verifications.
The consumer is presented needs to enter his or her detail choose the options available following the transaction is over. 2co can also be integrated with all of kinds of shopping carts and software. I've personally used this to purchase stuff on the internet many times and it works like no bodies business. Their support product is extremely good.
3. Moneybookers - This can be a European payment gateway service which may be utilized by those people who are getting Euros. You may create product listing using their own shipping cart system and employ its buttons on your site. The transactions fees are very high again and there's a cap around the transactions that you can do every month. The limit can be raised through their verification process.
Your visitors have to be registered to pay though moneybookers and it does accept bank transfers as well as charge card payments.
4. AlertPay - This can be a Canadian service provider and it has simply the same system as PayPal though much less popular. I have just been acquainted with their services and also the shopping cart software integration part continues to be simple and the transaction fees don't differ much with this of PayPal. Few people opt for AlertPay as an alternative to PayPal as well.
An individual account with AlertPay has limitations which may be raised to an extent through some verification process as the Pro account comes complete with features like: Mass Pay, Integration tools and website payment methods. To verify the pro account one should submit a few documents as well.
AlertPay does not have any country restrictions and have their very own shopping cart system as well as API integration and so forth. It might be personally my favorite choice as an alternative to PayPal at all.
Aside from all of this you ought to really look for a vendor that's secure as well as your customers feel confident and secure in supplying their financial details to.