Ways to receive payments online include via debit or credit cards, via electronic checks, or via online payment gateways. The best method for a business to receive payments online is usually contingent on the customers of that business and what approach they find easiest.Continue Reading
Set the business up to accept payment by debit or credit cards by either developing your own dedicated merchant account or using an intermediary holding account. Next, determine which credit and debit cards are accepted. As of 2013, Visa accounted for over 45 percent of all credit card transactions. Other popular cards are MasterCard and American Express.
Another way to accept payments online is to set up electronic check payments via the National Automated Clearing House Association. This allows customers to provide the unique information from a paper check and to pay for goods and service electronically, offering better security for customers and lower merchant fees than most credit card companies.
You can also set up an online payment gateway to receive customer payments. Different companies can design personalized payment forms for your website that allow customers to pay directly through the site itself, which is especially convenient if they are a paying for a regular bill or monthly service. Such forms also allow users to set up accounts and save their information to make future payments even easier.Learn more about Personal Banking