Taking Payments Online



Merchant Account and Payment Gateway

A more traditional method for payment plans is having a merchant account and a payment gateway that can connect your bank with the customers bank. This type of service can come with fees for the transactions you make and possibly when you are setting it up for your online store, working through bigger businesses like SecureNet or Authorize.net. You will also have to apply for both the account and gateway, then connect the gateway to your account once it’s been approved, which can take a few days and hold off the launch of your store. While fees and filling out forms can deter you, keep in my mind that because the gateways and accounts are provided by large companies, they will have a large support staff to help you with any problems you might have along the way. This can also help with security and customization since your account is your own, which can be very beneficial for larger stores that may need additional support for protecting the large amount of transactions that can come through.

All-in-one Solutions

Services like PayPal and 2Checkout offer payment methods that have a gateway built in so there is no need to combine different services, which can make the setup for your store quick and easy. These services also don’t charge transaction fees and can be more affordable for the owner of the store. In recent years, PayPal acquired programs like Braintree and One-Touch to keep the checkout process on the store’s page rather than referring them to a different site and re-directing them from the merchant store. While PayPal is a popular service, there are people who prefer not to use it and stick to another service, which is why it’s important to implement another payment method with your site so customers can have different options.

Simplified Payment Processing

An even more seamless solution for payment are seen in services like Stripe and Klarna where they skip the sign-up process and let you get your store online within minutes after launch. While these services are similar to PayPal and Dwolla in terms of rate and fees, these services let the customer stay on your site and provide a seamless transaction between you and the customer. However, because these services are so user-friendly, the support staff for these companies is much smaller and harder to contact. This means that if you end up having a problem with taking payments or anything else with checkout, you may have find support by searching through forums or waiting until the support staff of your service can get back to you.


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