March 17, 2008

Setting Up Your Online Payment Processing

Your Order Form:

To handle this, I use an integrated system, called QuickPayPro. And I Highly Recommend that you give it a try. The truth is that I started using this system about a year ago, and I loved it so much, I actually bought the whole thing. It's honestly the best eBusiness Automation System available! Here's what it does for you:

  • creates custom order forms
  • processes credit cards in real-time
  • delivers your digital products
  • takes your customers out of your prospect list, and puts them into your customer list
  • tracks your ads
  • calculates your conversion rates
  • tracks your affiliate sales
  • follows up with your prospects, customers, and affiliates

Plus it allows you to:

  • customize your order form to match the look of your Site
  • create unlimited auto follow-up responders for customers, prospects, and affiliates
  • send broadcast messages to any of your unlimited mailing lists
  • maintain your customer database Online
  • signs up affiliates Online
  • track and pay your affiliates Online
  • automate your entire business
  • and much more…

I love this system because it integrates and automates everything in your business that I was talking about in the overview. I highly recommend that you start using it right now. If you don't use this System, you'll have to program your own order form, or use one of the generic ones you can find at Cgi Resource Index. Some are free, but most cost just as much as, or more than, QuickPayPro. And you won't get any of the other features. You'll also have to install it yourself and make it work with your payment gateway. And, you'll have to get your own Secure Server Certificate.

* If you do buy a separate order form, be careful. Some order forms just collect the data and then send it to you via email. So make sure that it can process real-time transactions through your payment gateway. Otherwise, you'll be entering all the credit card info and distributing your product manually. And that's not an Automatic Money Machine!

Your Merchant Account:

For your merchant account you have two choices. You can either get your own merchant account or you can use PayPal. Before we talk about getting your own account, I want to mention PayPal to you because it's FREE.

PayPal Advantages:

  • It's free to sign up.
  • No monthly fees
  • Technically it's like your own merchant account.
  • No order form needed
  • Low per-transaction rates (similar to a real merchant account)

PayPal Disadvantages:

  • You have to use PayPal's ordering system.
  • This doesn't mesh well with any affiliate tracking.
  • You don't have access to your customer's info.
  • And it's several extra steps for your customers.

But the biggest disadvantage to PayPal, is there's no Customization possible. So all your customers will know you're using PayPal, and it really doesn't look very professional. I recommend getting your own merchant account, if you plan to be serious about your business. PayPal's fine if it's just a hobby.

Merchant Account Advantages:

  • You control all your purchases and refunds.
  • You can customize the look and feel of your business.
  • Set any price you want on an unlimited number of products
  • Keep a consistent theme during the whole process
  • Very low per-transaction fees (50 cents plus 2.5%)
  • Integrates with order form software easily
  • Makes follow-up and back-end sales easy
  • Integrates with affiliate tracking easily
  • Give you Total Control over your business!

Merchant Account Disadvantages:

  • Up front costs of $500 - $1600
  • Application fee ($99 - $199)
  • Setup or Software fee (up to $400 - $1400)
  • Monthly fees (gateway $20, statement $15, software $29) - This is more than offset by the savings in the pre-transaction fees if you do even a little bit of volume.
  • They say it will be quick, but it takes weeks to get set up!
  • You'll still need affiliate software. (Unless you use QuickPayPro, because it's included with your order form!)

Fortunately for you, I spent a lot of time researching this and found some companies that eliminate all the negatives. I liked what he did for me, and I knew I'd be sending people his way. So, as a favor to my customers, I set up a deal with him. If you tell him I sent you, he'll give you a special discount. I told him I'd be sending him a lot of referrals and negotiated a better deal for you! The alternative to an order form and merchant account is a merchant service like ibill.com, or clickbank.

Clickbank Advantages:

  • No merchant account needed
  • No order form needed
  • They handle the details of the purchases and refunds.
  • Built in affiliate program
  • They handle the details of tracking and paying affiliates.

Clickbank Disadvantages:

  • Extremely High fees per transaction ($1.50 plus 7.5%)
  • No control over anything
  • Limited to 50 products
  • Can't sell anything over $50
  • No customer database
  • No mailing list
  • No contact with affiliates
  • No affiliate tracking
  • No flexibility

I've tried PayPal, and I've tried ClickBank. Now, I use QuickPayPro and my own merchant account. I like the freedom and features that my current system offers much better than the other options. But, the choice is yours and it's a personal call. All I can do is give you the info. It's your job to decide which is the right choice for you. One thing to consider is: If you don't use QuickPayPro for your order processing, you're going to have to figure out how to integrate all the other aspects of you Automatic Money Machine, like the affiliate program, autoresponders, ad tracking, etc.

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