How to Accept Payments Online [Selling Service/Products Online] - SmartMobCorner

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Friday, 12 October 2018

How to Accept Payments Online [Selling Service/Products Online]



Have you ever thought of setting up a business online? got all needed ideas and resource and don't have any clear idea about accepting payments online? Then this guide will definitely help you to achieve your goal by chasing your dream. Let's see How to solve your issue. All process is under transformation, right? so to persist and sustain in a wast transforming society one should have the mindset of adapting challenges without overlooked by its complexity. In order to be successful in life, our eyes should have the power to search constantly for opportunities even though hunting opportunities is difficult.  

If we search for a problem, we will get lots of alternate solutions. But selecting the best possible alternative is something capable of measuring one's skill. So while implementing an online business you must have to set up a place where you can collect payments for the products/services you deliver to the customers.  Selecting the best method among them is simpler when you got enough knowledge about the alternatives you have. Sorting out the pros and cons of the system may help you to select the best one out. But if you have a guide who has already done these research could help you, so that you can save some time. Here SmartMobCorner will be your guide, let's see can we hunt down the best possible method to accept payments online. 

Before getting into the topic, one can think there is no need to accept payments online if he/she can implement a COD(Cash On Delivery) Mechanism. Definitely, it is neither a bad idea or a good one. Why it says Good - COD is good if one can implement it successfully. It can make more trust in the minds of customers when they are new to your initiative. Why it says Bad - COD alone couldn't fulfill the requirements of an online service. If you are doing online business then you should have a proper way to accept payments online else how can you say you are providing services online? even if you can but you will not get completeness. Okay, Let's time to get to the topic straight.

Now you want to accept payments online from your clients hah? 

Simple & Absolute answer: Use PayPal.

PayPal is a payment gateway which can be used to accept payments online from your clients. It is not a mandatory procedure to have a PayPal account from the client side. Anyone can make payment if they have a valid Debit/Credit card. 

Yeah!!! It means you can accept payments worldwide with the most commonly used methods for online payments. To use PayPal for your business you have to register as a business account on PayPal. Already have a PayPal individual account? don't have to worry you can upgrade your account to a business account. The mandatory documents that needed for registering a business account in PayPal are:

  • ID Proof
  • PAN Card
  • Bank Details
Now you may think of the fees/monthly charges that you have to pay to PayPal to avail the full features. As a blessing to the people who are having the willingness to do something different, Paypal has no monthly charges, you pay the fee only you receive a payment. Means no payments for you, no fees for PayPal too. 

The simple and affordable pricing made PayPal one step ahead than other payment gateways. Pricing is as follows:

2.5% of the amount you receive + 3 INR.

Example: If you receive a payment of Rs 100/- Then PayPal charges Rs 5.5/- as their fee and your rest amount will be withdrawn automatically to your bank account.

Paypal automatically withdraws your PayPal money balance every day at midnight. It takes 2-4 days to reflect the amount in your bank account due to high-end security policies.

Also, you can refund any amount to your customer just in one click. It is possible to print packing slips with your & your customer's address along with the product details.

You can use different PayPal buttons or billing invoices to collect money. PayPal buttons include BuyNow, Subscribe, Add to Cart. Each button serves different actions. A buy now button can accept payments for a product faster and direct. Subscribe button is used to subscribe any of your services or articles. Add to cart is the main and highlighted button, Users can add products to a cart in your website and can checkout with multiple products. 

All buttons can be implemented simply by pasting the HTML code to your website where you want. You can use a custom button or PayPal's default button... You have all the freedom. While implementing add to cart button you should place View Cart button too on your website, it is also available. So customers can put items in their cart and they can check out whenever they wish... (Items stays there on the cart till the user removes or checkouts).

You can check how I have implemented an e-commerce website using Paypal as the payment gateway by visiting our SMC Tech Gadgets website

I think you have been successfully grasped some useful information about the payment gateway. Got all the potentials to start an online business? Then go ahead...Ready to chase dreams and be successful in life. Good Luck! 


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