Your Options For Processing Credit Cards

When it comes to selling products on your e-commerce website the one thing you will need is a way to process credit cards. We’ve integrated the most popular payment options into our service to make this as simple as possible, these options include PayPal, Authorize.net and PsiGate. Let’s take a closer look at each one of these…

1. PayPal – This is by far the simplest and easiest way to get started selling products online. A PayPal account can be setup for free and will immediately allow you to send and receive money online for free. Not all transactions are free, only personal transactions between individuals can be completed without fees but business transactions carry a small fee. For the basic business account there are no recurring charges and the per transaction fees are reasonable. The main advantage of a PayPal option for your customers is that you only get charged PayPal fees when you actually sell something so there is no risk and no overhead. I always recommend you start with a PayPal account when testing your idea before you commit to a more expensive processing option. PayPal has evolved over time to allow you to accept payments from non-PayPal customers so you aren’t limiting yourself to just PayPal users.

Pros: simple, easy, no overhead, reasonable fees, works for everyone, no setup fees, no application, fully integrated with our cart, can be upgraded to eliminate the extra checkout step associated with PayPal payments
Cons: basic account adds a step to the checkout process… that’s really about it

2. Authorize.net – If you want a seamless checkout process that doesn’t redirect your customers to PayPal to complete the transaction then you need an Authorize.net account. The problem with Authorize.net is that you have to submit an application, pay a fee, subject your idea to scrutiny and if you get accepted there is a recurring monthly fee to stay active along with transaction fees. The transaction fees are a bit lower than PayPal so it makes sense if you already have existing business or reach a point where the fees are in your favor. You will also need an e-commerce enabled bank account to make this all work and that will involve a bit of back and forth with your bank. This setup is really best suited for someone who is already processing orders but wants to move them online.

Pros: seamless checkout process, lower transaction fees
Cons: application fee, recurring monthly fee, business scrutiny, requires a business bank account

3. PsiGate – This option is nearly identical to the Authorize.net option but geared primarily for our Canadian customers.  It has all the same pros and cons as Authorize.net.
Summary – If you are just starting out, use PayPal, it’s quick, simple, easy to setup, doesn’t hit you with tons of recurring fees and can accept payment from anyone with a credit card. If you have a good bit of existing business and want to explore online payment options, go ahead and apply for an Authorize.net account. You can always cancel the service or use PayPal simultaneously until you determine which is best for you.