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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