The Hidden Impact of Your Payment Processor May Be Killing Your Business
Choosing a Payment Processor · Choosing a Payment Processor. If you want to have a ... existing...
Transcript of Choosing a Payment Processor · Choosing a Payment Processor. If you want to have a ... existing...
Choosing a Payment Processor
If you want to have a business online, you need a way for people to pay you!
Best payment processors for low to relatively high volume
• Clickbank
• 1ShoppingCart
• Paypal
ClickbankPros Cons
They handle all credit card processing
They handle all refunds
!They only deliver digital
products
They only deliver digital products
!Higher processing fees
Paypal Payments Standard
Pros Cons
No shopping cart needed !
Credibility of PayPal !
Quick and easy set up !
No monthly fees
Need a webmaster to put the button on your page
!Basic functionality
!Standard processing
percentage taken
Paypal Payments ProPros Cons
Credibility of Paypal !
Accept paypal with your existing shopping cart
!Good if you can’t get a bank to open a merchant account
Monthly fee and percentage taken
!Need to have a cart to fully
optimize the benefits
1ShoppingCartPros Cons
Ease of use !
Built-in affiliate system
Builtin email marketing
Integrates with PayPal and most payment processors
!Recurring billing
!Built for digital marketing
Transaction fees on some packages
!Need to pay for support
Not fantastic for full-blown
store !
Need third party payment processor
Demo of Clickbank, Paypal, 1ShoppingCart
Pick your payment processor
• You want an interchange plus service. It will save you in the long run
• Kevin uses www.leappayments.com
• Frederic, in Canada, uses www.psigate.com
Other Shopping Carts - When They May Work
InfusionSoft
• Good for higher level marketing funnel
• Kevin hasn’t had a good experience with them
Shopify
• Good for eCommerce type sites.
• Great user interface.
• Apps are extensive, but you have to buy a lot of them to get really good functionality.
BigCommerce
• Good for eCommerce type sites.
• You get a lot of apps built in that you have to buy for Shopify.
Two Things You Need to Know
1. No system is going to do exactly what you want it to do.
2. You're eventually going to switch, so go with the one you feel best about now..
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