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Best payment processors for your blog

If you have a high monthly cash turnover, it is better to look for a system that includes a separate merchant account.

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If you want to create a blog for selling products or services, you will need a method of receiving payments. Some terms you will come across are merchant accounts, payment gateways, and payment processors. Here is a definition of these terms and a list of some of the best payment processors for blogs.

Merchant Account

A merchant account is an account that allows you to receive payments through credit cards and debit cards. This is not like an ordinary bank account. Many banks offer merchant accounts. The price for a merchant account is higher than the standard version. You need to make an upfront payment of at least $100 and pay a monthly fee of $50.

Payment Gateway

A payment gateway receives payment requests from merchants. For example, your blog can request payment from a payment gateway. This could be in the form of a payment button and a form that customers fill in providing their payment details. The gateway will forward the requests to a payment processor. Typical examples of payment gateways include USAePay, SecurePay, Chase Orbital, and Authorize.

Payment Processor

A payment processor receives payment requests from the gateway. It then forwards the customer’s payment details to the card network. For example, it can forward the payment details to MasterCard or Visa. The card network sends these details to the issuing bank. When the transaction is authorized, the payment will be sent to the merchant account. Typical examples of payment processors include Chase Paymentech, Elavon, WorldPay, and TSYS.

The terms payment processor and payment gateway are usually used interchangeably to mean a system that facilitates online businesses to request and receive payments. Stripe and PayPal combine the payment processor, payment gateway, and merchant account in one. They are called aggregators. This means you are relying on their merchant account. Some systems combine a processor and gateway but need a separate merchant account.

The Best Payment Processors For A Blog

When choosing a payment processor, you should choose the one that suits your needs. It would help if you determined the processor that is available in your country. Whether you’re selling or buying products and services, you will need to familiarize yourself with different payment processors to find the one suited for your needs. Here is a list of some of the best payment processors in the market today:

A). Combined Payment Processors And Merchant Accounts

The following credit card merchant services act as aggregators eliminating the need for a merchant account, payment gateway, and payment processor. This means you only deal with one service.

1. PayPal

This is one of the most popular aggregators online. PayPal is used in many countries in the world. However, some countries like Nigeria and Pakistan do not support this aggregator.

It is easy to create a PayPal account, and the payments are easy to use. You can use your PayPal balance for purchases through PayPal. Alternatively, the balance can be transferred to your bank. There is a PayPal Access card in some countries, which works like a credit card allowing you to withdraw cash at ATMs or make purchases at convenience stores.

You can place a PayPal button on your blog for customers to use for making payments. Customers can either make payments with their PayPal accounts or by debit/credit card. PayPal delivers payment immediately. However, the processor will deduct a fee of 3.4% plus 20 cents.

The main benefit of using PayPal is that you can send cash abroad to other PayPal users at a standard charge. Furthermore, it has an easy-to-follow dispute procedure. This insures you against an item being not as described or arriving damaged, and also non-receipt of items. Some alternatives for people who cannot use PayPal include Payoneer, Skrill, Stripe, and Google wallet.

B). Mobile Payment Systems

Some bloggers prefer a payment system that accepts payments on the road, a restaurant, or clients’ homes. Portable payment systems are popular with many blog owners. Some common mobile payment systems are PayAnywhere and Square.

1. PayAnywhere

This system works for mobile devices. It is easy to integrate this payment system into your mobile applications. There is no minimum or monthly fee. The system comes with a device to fit your mobile phone. This allows you to swipe the card. PayAnywhere enables you to make or accept payment while on the move. You will be charged a fee of 2.9% for every swipe. A good alternative to PayAnywhere is Square. This system works the same way but charges a lower fee of between 2.75% per swipe.

C). eCommerce WordPress Plugin For Your Blog – WP eCommerce

One of the best ways of turning your blog into an eCommerce store is by incorporating WP eCommerce. This is a complete eCommerce system that targets WordPress users. This is more than a payment processor and can be used with PayPal, Stripe, and other integrated payment systems.

If you want to use your blog to sell goods, then WP eCommerce will work for you. This plugin enables you to create product listings in a highly customizable design and style. WP eCommerce is free but comes with payable add-ons like FedEx shipping plugins and payment gateway plugins.

D). Authorize.net

Authorize.net is one of the most popular payment gateways online. This system boasts of more than $88 billion in transactions annually. This payment gateway can be easily used in an eCommerce platform.

Many popular eCommerce platforms and shopping cart systems like X-cart, Magento, and Volusion are set up using Authorize.However, you will need a merchant account to use Authorize. While it is a good option for creating your eCommerce site, it is not equivalent to aggregators like 2-Checkout and PayPal. This is part of an overall payment system.

In Conclusion

If you have a high monthly cash turnover, it is better to look for a system that includes a separate merchant account. There is no need for a merchant account for ordinary bloggers, payment aggregator, gateways, or payment processors will suffice. If you offer offline services, you can opt for mobile payment systems. When choosing a payment processor, make sure it serves your specific needs and is convenient for your business.

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