Top Online Payment Gateways : Online Business Series :2:

 

You are not bartering if you are doing business .You are selling product or services .It is very important to locate the right payment gateway for your brand, it seems small like 1% or 2% extra on each transaction but it can add up quickly. There are various global and county specific Payment gateways . Each one of these offers different plans and suitable . You need to register and comply to your country specific GST VAT Sale tax and income tax provisions though some payment gateway companies does not required that . Some of the most popular payment gate gateways are

  • Paypal
  • payMate & Merchant Warrior(Australia)
  • wooCommerce
  • 2Checkout
  • Stripe
  • ACH Payments
  • WePay (only US citizen)
  • net
  • Dwolla
  • Amazon payments
  • Google Wallet
  • Dharma Merchant Services
  • Payline Data
  • asiapay
  • exPay
  • Worldpay
  • Mobivi & 1Pay : Vietnam
  • Dragonpay , Apptivate ,Ayannah & Qwikwire: Philippines
  • EBS , CCAvenue ,Citrus Pay , instamojo : india

There might be more I appreciate if you can suggest me in the comments below .You need to understand your product specific requirements .These are a few of factors that is a deciding criteria to choose a payment gateway .

  • Do you want customers to enter their payment details directly on your site?
  • What are the fees? What is one time setup fee or monthly fee or transaction wise fee ?
  • Do you want a payment gateway and merchant account or an all-in-one payment service provider?
  • Is there any lock in contract ?if yes , How long is the contract?
  • Does the provider have a good reputation? Check the online review of the services .
  • Does the transaction provider has secured server ?
  • What kind of helpline and support system payment gateway provider company has and how long they take to resolve the issue?
  • If you are not selling internationally try your country specific gateways.
  • Does the payment gateway support the payment methods your target market uses?
  • Are you in a ‘high-risk’ business? Like betting gambling etc.
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Top 8 Myths about online business : Online Business Series :1 :

Myth 1 : You only need good website to run your business

It is presumed and sometime hipper advertised that online business are the best only need good website .Website is your virtual address like conventional shop has day to day running expenditure as an online business you might be paying to search engine optimization, search engine marketing and website development. , web traffic ,web analytic etc. You certainly can’t just stop once your website is live – that’s only the beginning,

Myth 2 : There are millions of users on the internet who can purchase your product

To an extent yes and no. It depend on how good is your niche ,how passionate are you   the service or product you are offering .it is about to add values to consumers life .if product or service that you choose can able to solve one acute pain point that people face than you will be unstoppable. You need to find out is the product or service you are choosing to sell is that sellable. It is more of finding your tribe than aiming for mass market. 

Myth 3 : You can do this completely on your own.

With finite body and finite time it is nearly impossible to learn all the technology with quick pill or shortcut. You can manage a small business but if you aiming to reach out the paying people in your niche you have to do a lot of handwork. Teachers, professors are best knowledgeable people in the world but how many companies owned by professors. You can reinvent the wheel and can built your own road but it takes more time .Best way is out source some of the work and hire once you grow bigger.

Myth 4: Social Media is a Costless Marketing and Money Making Outlet

You can only get the experience once you speak out with the people who use these technologies .However they are tremendous platform to market your product but comes with nominal cost .Nobody is better judge than you if you have created your own product .The planning of marketing strategy is depends on you and you can copy the idea as marketing is always open secret but you have to modify the idea as per your own requirement

Myth 5: You Can Automate Everything When Selling Online to Cut Down on Labor Costs

Computer does not think it only process the command and execute asset of routines based on execution of an event with various exception handing routines .You can automate a couple of processed like auto responder to your email. But you need to feed a set of recomposed messages .Online business require specialized skilled manpower .

Myth 6: Success will happen overnight

You need to find your criteria to measure the success .Is it your website hit counter , You sale counter ,total reviews .I love two quotes about Rome ”All road goes to Rome ” and “Rome is not built in a day”. Roman has built one of best and first road network and slowly it became hub of European art , culture and commercial capital . The Key to online business is to build online roads or ways that leads traffic to your website and the relationship building with the customers with honest dealing. Believe me success will not happen overnight unless until the product , strategy or service is unique .

Myth 7: You Don’t Need Any Capital to Get started and can start online business for free

I am not scaring you just giving you dose of reality . There are numerous cost involve running an online business e.g domain name purchasing, website designing ,Website theme cost ,website content ,product development ,cost   of website hosting, cost for logo design, E-commerce platforms , Payment gateway transaction cost ,SEO cost ,traffic cost, marketing and advertising expenses, license software fees, taxes and compliance cost. It depends on your niche, product and commercial selling feasibility.

Myth 8: You can work part time or couple of hours daily and you have lots of time .

True and false both, True initially when you are just in testing mode to give it ago you work spare time .But if you have firm believe in selling and product you have to get involve yourself full time .It is more of your owned store .Time is directly proportional to the money. You can fly the airplane on autopilot but only for a certain time. Your business always need fine tuning . You need to go forward for the new things as technology is evolving everyday . Online business is full time business though without bricks and mortar yet need technical upgrades.