Credit Cards: The Keys To Success

Dave Barrett Anyone doing business on the Internet must accept credit cards.
Your success depends on it. 99% of all transactions online are
made using credit cards. If you don't accept credit cards as a
form of payment, you'll not only be missing out on a huge
windfall, you'll also be setting yourself up to fail.

Accepting credit cards offers your customers convenience, while
projecting an image of reliability, credibility, and
professionalism. It says to the world that the banking
establishment has put its trust in you, and recognizes you as a
responsible entrepreneur. In many people's eyes, if you're good
enough for the bank, then you're good enough for them.

By accepting credit cards you will be able to cater to two
specific types of customers: impulse buyers and international
customers. Each has their own motivations and goals, but both
are looking for the same thing: a way to make extra money, just
like everyone else. Whoever or wherever your customers are,
your immediate goal should be to get them to buy now.

It is a proven fact that people purchase more with credit, online
or off. Money is easier to spend using credit, since you don't
have to pay for it right away. Customers like the fact that they
can buy today and pay tomorrow. As the old expression goes, out
of sight out of mind.

Remember, web surfers want instant gratification. That means
paying online with a credit card and instantly receiving their
merchandise. No waiting around. That's what the Internet is all
about, and that's what makes it so powerful. But you have to
accept credit cards to take advantage of all it has to offer.

It is much easier to accept credit cards than most people think.
It was true a few years ago, that most entrepreneurs were turned
down by the bank when they applied for the means to accept credit
card payments, but all that's changed thanks to the Internet.

The most dramatic change has been the relaxing of strict banking
rules regulating an entrepreneur's ability to accept credit card
payments. The privilege that was once exclusively reserved for
"brick & mortar" businesses is now available to everyone.

Why the sudden change in banking restrictions? The reason is
simple. When the banking industry saw the true potential of the
Internet, they realized how much money they would be losing if
they restricted credit card access to Internet merchants simply
because they didn't have a physical storefront. Their web page
is their storefront.

The two most common ways to accept credit card payments online are
either by opening your own merchant account, or using one of the
many third-party services available. There are advantages and
disadvantages to each.

Most banks offering merchant accounts require set-up fees. These
fees vary from bank to bank, and can be very expensive. In
addition, you are required to pay monthly maintenance fees once
the account is established.

Using the services of a third-party processor enables you to
accept all major credit cards online without a merchant account.
There are no monthly fees, and many third-party processors offer
free set up.

For those just starting out, third-party processors are, by
far, the easiest and cheapest route. You can be up and running
within 48 hours, taking orders and accepting credit cards.

There are numerous companies online willing to accept credit
cards on your behalf and, like banks, their fees and services
can vary drastically. Two of the most popular third-party
processors available are ClickBank and PayPal. Both are easy
to apply to and offer similar features.

The advantage of PayPal is instant deposits into your account
and no signup fees. ClickBank holds your funds for 30 days and
requires a one-time $50 sign-up fee. The biggest advantage of
ClickBank though, is its affiliate tracking feature. It allows
you to implement your own affiliate program, an valuable
feature to many marketers.

Affiliate programs are perhaps the most powerful promotional
tool you could ever use. You recruit people to promote your
product for you by offering them a commission on sales. You
decide how much, but the higher the commission, the more
motivated they'll be to promote your product, and that means
more sales for you. It also means you only pay for performance.
No more wasted advertising dollars!

For Internet merchants, there isn't much choice but to accept
credit cards. Applying for an account is fast and easy, and
almost everyone is approved within 48 hours. There's really no
excuse to not start your own business. The obsticles have been
removed. The only thing that stands between you and financial
freedom is yourself.

To open an account with ClickBank go to:
http://www.clickbank.net/r/?fxdude

To open a free account with PayPal go to:
http://www.paypal.com/refer/pal=fxdude@msn.com

Copyright (c) 2002 eMoney Enterprises ALL RIGHTS RESERVED

About the Author

Dave Barrett is editor of the Internet marketing
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