Your business is registered, your e-commerce website is active, your products are stocked, and your customer service department is on standby. But what about your payment processing system? The success of your online business starts with making smart choices about payment processing.
But first: What is online payment processing, and why is it so important? Online payment processing refers to money moving from your customer to your business—which is how you get paid!
Setting up a reliable online payments system can help ease the process of checking out for customers. After all, you don’t want customers to fail to check out simply because you didn’t offer them a convenient way to pay.
By partnering with an online payment processor, you’re giving customers more ways to pay and allowing them to choose what works best for them.
We know you may have questions swirling in your head: What is a payment processor? What is a payment gateway? How can I set this all up without losing my mind?
Here’s the good news: How online payment processing works isn’t as complicated as it may appear to be. Setting up online payments starts with finding the right partner, creating an account with a payment processor like PayPal, and integrating it into your operation.
Choosing the right payment processing for your business involves some important decisions. To begin, it’s necessary to understand the three Ps of payment processing: players, payments process, and pricing.
From increased customer trust to secure, seamless transactions to merchant protections, you can take advantage of numerous benefits when you partner with an online payment processor, including:
As you may have guessed, these benefits come at a price. There are various costs associated with online payments, collectively called payment processing fees. These merchant fees typically include the following:
Accepting payments from online customers requires the right partner. There are many available payment processing options to choose from, including PayPal.
Sign up for PayPal to offer your customers payment processing. Learn more about payments with PayPal.
In partnership with three expert business owners, the PayPal Bootcamp includes practical checklists and a short video loaded with tips to help take your business to the next level.