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NEW CREDIT CARD SYSTEM FOR ALL!
We mentioned briefly in our last newsletter that there is a new
online credit card system available for Australian businesses, that
is affordable to all. Here's the details.
Paypal (www.paypal.com)
have been in business for many years and have over 56 million accounts
in 45 countries. It is a long established, reputable business that
provides a secure way to send and receive money over the Internet,
including credit card payments.
Up until now, however, Paypal has only let you invoice people in
US dollars, Canadian dollars, Euros, or Pounds. But they now allow
payments in Aussie dollars.
Why is Paypal so good, and affordable for all businesses? Normally
when you want to accept credit card payments online, you need to
have both an Internet Merchant Account and a Secure Payment Gateway.
Both of these can cost several hundred dollars per year, plus transaction
costs. Combine this with the cost of setting them up (due to complexity),
and a business can easily pay thousands to get an online credit
card system, plus hundreds of dollars per year thereafter.
Where the Paypal system is different is that you don't need your
own Internet Merchant Account or Payment Gateway System - you use
theirs. And there is no upfront fee to do so!
Where's the cost? Paypal charge a percentage of each transaction,
which is currently up to 2.4%, plus $0.40. This is a small fee when
you consider some of the ongoing costs of having your own credit
card system set up.
Paypal can easily be incorporated into your own website, meaning
that people can buy through your site, pay online securely, and
the money is deposited into your Paypal account immediately. Paypal
offer a number of automated tools to create "Buy Now"
buttons and Shopping Carts for your site, so it's easy to set up.
What this means is that every small business is able to now offer
credit card payments online if they want, with no up-front or ongoing
fees - you only pay when you actually have a transaction.
Opening up an Australian Paypal Merchant Account is free. Click
here to apply.
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