What tools do you need to accept payments?

KatyaSenina · 11-15-2009, 07:54 PM

Let's say I want to create my own product in the near future, what do I need to accept payments? Do I also need all kinds of different credit cards? (don't have one now) What else?

Jhf14 · 11-15-2009, 08:04 PM

To accept payments you should start with Paypal (industry standard). You will have to prove that you have a bank account, but that whole process is pretty easy.

OR

you can use clickbank (clickbank dot com)... although they require $50 to set-up and setting everything up is not as inuitive.

Jason Stepp · 11-15-2009, 08:22 PM

Just like Justin said, PayPal is definitely your best option to start with.

Clickbank is also a great option because there are a lot of affiliates waiting to promote new products. The only downside, as Justin mentioned, is the cost.

Not only do you pay for set-up, but you will also have to pay a commission to affiliates. And, 7.5% of the selling price plus another $1 per sale goes to ClickBank.

So... if you set your products price at $100 and offered a 50% commission to affiliates, you would make 45.75, your affiliates would make $45.75, and ClickBank makes $8.50.

If you are considering ClickBank, search Google for Clickbank Calculator. I would post a link, but my post count isn't high enough.

The calculator will help you decide on a price and commission structure for your product.

It's also important to note that you should offer at-least 50% commission to ClickBank Affiliates. Otherwise, it may be difficult to find affiliates to promote your offer.

KatyaSenina · 11-15-2009, 08:26 PM

Not everyone uses PayPal, some people prefer to pay with credit cards. That's the downside.

Frank Donovan · 11-15-2009, 08:31 PM

Quote:

Originally Posted by KatyaSenina

Not everyone uses PayPal, some people prefer to pay with credit cards. That's the downside.

You can pay via PayPal with most credit cards - you don't need to have a PayPal account.

Frank

Jason Stepp · 11-15-2009, 08:34 PM

Your customer does not have to have a PayPal account to make a payment through PayPal.

Paypal accepts Visa, Mastercard, Discover, and American Express credit cards.

When your customer clicks the Buy Now button, they will be taken to the PayPal login screen. If they prefer to use a credit card instead of a PayPal account, there is an option to do so on the left side of that login page. Look for the credit card logos.

rondo · 11-15-2009, 08:58 PM

There's also 2CO.com or you could get a merchant account from your bank.

Andrew

jedz · 11-16-2009, 12:25 AM

Paypal is great, because you can confirm the payment immediately. We've been using CC and wire transfer to our clients.

11-15-2009, 07:54 PM	#1
KatyaSenina Advanced Warrior Join Date: Oct 2009 Location: The Netherlands Posts: 754 Thanks: 448 Thanked 126 Times in 97 Posts Social Networking	What tools do you need to accept payments? Let's say I want to create my own product in the near future, what do I need to accept payments? Do I also need all kinds of different credit cards? (don't have one now) What else?

11-15-2009, 08:04 PM	#2
Jhf14 Name is Justin War Room Member Join Date: Sep 2009 Posts: 82 Thanks: 15 Thanked 8 Times in 6 Posts	Re: What tools do you need to accept payments? To accept payments you should start with Paypal (industry standard). You will have to prove that you have a bank account, but that whole process is pretty easy. OR you can use clickbank (clickbank dot com)... although they require $50 to set-up and setting everything up is not as inuitive.

11-15-2009, 08:22 PM	#3
Jason Stepp HyperActive Warrior War Room Member Join Date: Sep 2007 Location: Cleveland, Ohio, USA. Posts: 188 Thanks: 71 Thanked 81 Times in 40 Posts Social Networking Contact Info	Re: What tools do you need to accept payments? Just like Justin said, PayPal is definitely your best option to start with. Clickbank is also a great option because there are a lot of affiliates waiting to promote new products. The only downside, as Justin mentioned, is the cost. Not only do you pay for set-up, but you will also have to pay a commission to affiliates. And, 7.5% of the selling price plus another $1 per sale goes to ClickBank. So... if you set your products price at $100 and offered a 50% commission to affiliates, you would make 45.75, your affiliates would make $45.75, and ClickBank makes $8.50. If you are considering ClickBank, search Google for Clickbank Calculator. I would post a link, but my post count isn't high enough. The calculator will help you decide on a price and commission structure for your product. It's also important to note that you should offer at-least 50% commission to ClickBank Affiliates. Otherwise, it may be difficult to find affiliates to promote your offer.

11-15-2009, 08:26 PM	#4
KatyaSenina Advanced Warrior Join Date: Oct 2009 Location: The Netherlands Posts: 754 Thanks: 448 Thanked 126 Times in 97 Posts Social Networking	Re: What tools do you need to accept payments? Not everyone uses PayPal, some people prefer to pay with credit cards. That's the downside.

11-15-2009, 08:34 PM	#6
Jason Stepp HyperActive Warrior War Room Member Join Date: Sep 2007 Location: Cleveland, Ohio, USA. Posts: 188 Thanks: 71 Thanked 81 Times in 40 Posts Social Networking Contact Info	Re: What tools do you need to accept payments? Your customer does not have to have a PayPal account to make a payment through PayPal. Paypal accepts Visa, Mastercard, Discover, and American Express credit cards. When your customer clicks the Buy Now button, they will be taken to the PayPal login screen. If they prefer to use a credit card instead of a PayPal account, there is an option to do so on the left side of that login page. Look for the credit card logos.

11-15-2009, 08:58 PM	#7
rondo Senior Warrior Member War Room Member Join Date: Oct 2004 Location: Australia. Posts: 5,444 Thanks: 125 Thanked 174 Times in 156 Posts	Re: What tools do you need to accept payments? There's also 2CO.com or you could get a merchant account from your bank. Andrew
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11-16-2009, 12:25 AM	#8
jedz Banned Join Date: Mar 2008 Location: Philippines Posts: 514 Thanks: 6 Thanked 13 Times in 13 Posts Contact Info	Re: What tools do you need to accept payments? Paypal is great, because you can confirm the payment immediately. We've been using CC and wire transfer to our clients.