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If you're offering goods or services for sale online you need to decide how your customers will pay for them. A payment system be can set up to process payments instantly online, or so you can process your orders and payments when it suits you. You'll need to decide how many orders per week justify an online payment processing system and how you want this to work.
Consider the following common options for making payments.
PayPal is an internationally used online payment service. Customers can use PayPal to pay for your goods and services in a number of ways, including through credit cards, bank accounts or funds held in their personal PayPal account.
Pros: Customers can pay using credit cards or funds from their PayPal account. PayPal handles credit card processing and security.
Cons: PayPal charges a fee for managing your transactions. Buyers need to register with PayPal to use the service. Visit the PayPal website (see External Links) for more details.
Paymate is an online payment service similar to PayPal but is only available to businesses selling in Australia and New Zealand.
Pros: Customers can pay using credit cards or funds from their Paymate account. Credit card processing and security is handled by Paymate. Customers do not need to register with Paymate.
Cons: Paymate only handles payments for businesses selling in Australia and New Zealand. Paymate charges a fee for handling your transactions. Visit the Paymate website (see External Links) for more details.
BPAY is Australia’s most widely used bill payment service. Customers can use BPAY to transfer funds electronically from their bank accounts to yours.
Pros: Cleared funds are deposited directly into your account each banking business day. Customers can pay using their banking system. Security is managed by BPAY and the customer's bank.
Cons: Setting yourself up as a BPAY biller costs money. Visit the BPAY website (see External Links) for more details.
You take the credit details over the phone, by fax or email.
Pros: Easy to set up.
Cons: Customers may be reluctant to give their credit card details out without a secure payment system. You will need to manage credit card transactions and fees.
