eCommerce Tycoon

**praveen** · 01:53 PM

PayPal Alternatives: Do You Have a Backup Plan?
By Merle http://mcebook.mcpromotions.com
Many people think that in order to do business online you need to have an expensive merchant account to have the ability to take payments by credït card from your customers. Nothing could be further from the truth. Merchant accounts can be hard to get and the monthly fees can really add up.

So what's an honest Internet Entrepreneur to do?

The answer for most is Paypal.com. It's easy to set up an account, and fees are low and depend on your monthly salës (for most it will be 2.9% and .30 per transaction). You'll find most Net users trust and use PayPal for their everyday purchases, so they won't have a problem using it on your website to purchase from you.

However, relying solely on PayPal.com for your business can be risky. Should you ever losë your PayPal account or you have it "frozen," your online income will come to a screeching halt. You need a backup plan; another way to accept payments -- or you'll have to close up shop. This is the same thing as relying on one stream of income. If you losë your job your only source of revenue dries up as well. That's why multiple streams are best to keep you in the green.

So who are some of the others? I thought you'd nevër ask:

1) Bidpay:

This service is available only for those who buy and sell at online auctions. Buyers use their credït or debit card to make their purchases from you and BidPay sends you a Western Union Monëy Order or the payment is directly deposited into your checking account if you live in the U.S.

2) CCNow:

A shopping cart solution that also allows you to take all major credït cards without a merchant account. They pay you your earnings twice a month and while your monëy is sitting on account it earns 1.5% APR.

3) DigiBuy:

For those who sell software. Puts you in control of pricing, order forms, and delivery options. Pricing varies with two service levels to choose from. Your earnings are paid to you monthly minus their 13.9% per transaction fee ($3.00 minimum). Digibuy allows you to accept payments by Visa, MasterCard, Amex, Discover or Diners Club.

4) Ikobo:

With merchant fees at $2.99 plus .29 per transaction, and no extra fees for international transactions. You can sell to buyers in 170 countries. Payments are deposited to your bank account or to your Ikobo Visa debit card.

5) 2CheckOut:

It will run you $49.00 to open an account, then it's .45 per sale and 5.5% of the salës amount. Includes frëe shopping cart and codes to add to your website. Will also work with your existing shopping cart if you just need a way to take credït card payments. Can be used for tangible or digital download products. With 2CheckOut, you can take payment from all credït cards and even chëck and debit card payments.

6) ClickBank:

A great service which I've used for years. Good for selling digital products and comes with a built-in affïliate program. You'll have to pay a one time fee of $50.00, then it's only $1.00 plus 7.5% of each transaction. Allows you to take payments from all credït card types.

7) ShareIt:

For selling software and shareware online. Your customers can pay by credït card or debit cards, even checks. Receive your monëy by chëck or electronic transfer to your bank account. Fees are based per transaction with no monthly charges.

8) ProPay:

Accept payments by credït card via the web or even by telephone. Funds are deposited into your ProPay account. You can get a ProPay MasterCard to access your funds or transfer your earnings to your bank account. They have four types of accounts to choose from: Basic, Premium, Premium Plus, Platinum, with annual pricing from $34.95 all the way up to $299.95, depending on the features and type of account you need.

9) Ibill:

For businesses selling services and subscriptions. Gives you the ability to accept payments by Visa, MasterCard, Discover, JCB, Online Checks, even by telephone via a special 900 toll-free number. Fees vary, but if you reside in the U.S. and your salës are from $0 to $9,999, the charge is 15.19% in a billing period.

10) Money-Bookers:

Money-Bookers offers a merchant feature that allows you to create order buttons for your website and be paid by credït card. Fees range from 2% all the way up to 8%, depending on how payments are made. No setup or monthly fees. You can accept payments from over 30 countries. Monëy can be transferred instantly to your bank account. Don't wait for disaster to strike before opening another web based payment account. Like a "good scout," you want to be prepared in the event you need a backup. You don't know what tomorrow will bring so get your house in order today.

**imcisco** · 11-02-2005, 01:30 PM

Excellent information but I was wondering if you had the links to this services websites. I would really appreciate it.

Thank you
Cisco

**praveen** · 11-02-2005, 01:53 PM

updated the thread with the hyperlinks

**imcisco** · 11-02-2005, 02:14 PM

Really appreciate it! I just check out your e-book and it looks interesting. I will recommend to a couple of friends.

Thanks again,
Cisco

**praveen** · 11-02-2005, 03:06 PM

lol.. thats not my ebook

**imcisco** · 11-02-2005, 03:29 PM

Oops! - I thought it was... my bad!

**dougadam** · 11-09-2005, 02:55 PM

Thanks praveen, have you heard of E-Gold?

**praveen** · 11-09-2005, 03:50 PM

yes dougadam,

but i also heard its not stable enough... if u looking to transfer small amt of money i think that should fit.. but if u want to use it as ur main payment system.. i wouldnt recommend it

**thegateways** · 12-14-2005, 02:43 AM

I wonder why worldpay is not added in the list, possibly might be some reason.

BTW, I find chronopay is a excellent payment processor especially for small business merchant, You have not to pay startup costs as most of the processor demand this and even you cannot wait 4 weeks for your cash. I think chronopay should be also added as an good option.

**HaRRo** · 12-14-2005, 06:53 AM

Very nice Praveen But what we always forget is theres more alternatives than that.

I.e SMS payments etc...

Theres soo much out there related to SMS payments i think its the future.

www.glpay.com
A Good one currently im using Pay by phone and SMS

**christ71** · 12-15-2005, 12:06 AM

chronopay offers a complete merchant account solution with no start up and any hidden fee.

**thegateways** · 01-13-2006, 03:30 AM

Yep, there site is promising and overall they are stable, safe and fast internet payment solutions.

**RootedOnTheWeb** · 01-13-2006, 01:59 PM

Green Zap is my alternative to Paypal. Course, its kinda new so its just about guaranteed that anyone I want to do business with, using their services, will have to sign up for an account first.

**Sven44** · 03-02-2006, 06:44 AM

Unfortunately, it's not up to date, but copy of their advertising text only.

**shipmone** · 01:25 PM

I use 2 checkout and paypal for my site. 2 Checkout will not accept payment if the address of the purchaser and their web hosting location does not match. So beware!

Erick

**mykretek** · 03-07-2006, 12:32 AM

iKobo is not accepted any merchant account anymore

**strted@22** · 03-09-2006, 01:16 AM

great stuff paveen,

can you and others take a look at my thread about what type of merchant account that can work for me? I dont need a shopping cart. its more of a service i'm providing for students at my university. Then hopefully every student across the country.

Thanks

**winyourbentley** · 05-19-2006, 01:00 PM

What do you think? For my page (www.winyourbentley.com) which payment solution suits? Some of that (eg verotal or ccbill) doesn't support the gambling/lottery sites - You can win car at this page...

**winyourbentley** · 05-20-2006, 08:32 AM

Wow,

Thanks a lot for this overall description on online payment solutions!!! I have just been looking for something like this...

I really do appreciate your contribution and the infos, THANKS!

Kind regards,

**webtalk55** · 05:15 AM

Thanks for the tips. Its a good article