GETTING PAID!
–Payment System, how to leverage on payment options you can accept on your site.
As you build your online presence to make money , you will need to use an Online Payment System to receive and send money. Payment systems allow you to receive money from your clients as well as make purchases. You can also withdraw money from your account at the online payment system to your bank account and vice versa.
Some organization e.g. PayPal, offer this service by charging a fee for every transaction you conduct(These systems take a certain percent of what you make. PayPal for example takes $.30 and 1.9%-2.9%). By researching the transaction policy and charges of various company offering the services, you can find a convenient system that suits your business in terms of payments and availabilities.
To sign up with these organization you will have to provide your credit card number and bank account so that you can send and withdraw money online and offline whenever necessary. You will need to give them your social security number for earning tracking purposes, your credit card number so that they can charge your credit card if you choose to pay with it instead of the funds in your account, as well as your bank account so that you can send money from your online payment system account to your bank account. Then you simply start to receive and send money.
You can withdraw fund from your online bank account whenever you need it. Some payment systems will give you a debit card so that you can withdraw fund from your account at any ATM machines all over the world. Some other systems allow you to request a check to your residential address. You can deposit the check in your local bank to convert it into your local currency. Very few payment systems support wire transfers in which you can withdraw fund to your local bank account.
The following are payment system are recommended:
InterSwitch, PayPal, Money Bookers is a good options you can consider when deciding if you will like to attach payment for your site.
To withdraw fund from your online bank account whenever you need it, some payment systems will give you a debit card so that you can withdraw fund from your account at any ATM machines all over the world. Some other systems allow you to request a check to your residential address. You can deposit the check in your local bank to convert it into your local currency. Very few payment systems support wire transfers in which you can withdraw fund to your local bank account.
