In the previous few lessons we’ve been looking at how to create a sales letter.
But a sales letter isn’t going to sell anything for you unless you’ve got a way of accepting money…
(Watch this video…)
Main points:
– Money transfer services (like Western Union)
– Alternative “currencies” (like E-gold)
– “Offshore” banks and payment processors
1) Merchant Account
-Also requires a Payment Gateway (ie. Authorize.Net), and possibly a shopping cart.
-Beware the horror stories and choose a good provider.
-I recommend PowerPay
Advantages:
– Pay less fees (in many cases)
– More control (upsells, processing, ownership, interface, etc)
– Ability to process offline payments. (Mail, phone, etc)
Disadvantages:
– Responsible for credit card security.
– Can be difficult to obtain outside of the US.
– Can be more complicated.
If you are processing credit cards on your website, it is also essential for you to have PCI Compliance. For this I recommend McAfee PCI Certification Service (Only $99 for up to 4 sites)
2) 3rd Party Payment Processor
I recommend PayPal
Advantages:
– It’s convenient.
– They handle the security.
– The fees are reasonable.
Disdvantages:
– They can freeze or close your account.
– Not accepted in all countries.
Why might PayPal freeze or close your account?
– They suspect fraud.
– They suspect spam.
– They perceive your product to be a violation.
– They perceive you to be high risk.
How can you stay out of trouble with PayPal?
– Play by the rules.
– Provide everything they ask for.
– Notify them if you’re going to be doing high volume.
– Ask them if there is any additional information you can provide.
What can you do if your account gets frozen or closed by PayPal?
(Please see video for how I recommend handling this kind of situation)
3) 3rd Party Vendor/Reseller
Technically they are “selling” your product.
I use and recommend:
Advantages:
– It’s convenient.
– They handle the security.
– Some have integrated affiliate programs.
– Some accept PayPal in addition to credit cards.
Disadvantages:
– Usually have higher fees.
– Many of the same risks as other payment solutions.
Regardless of which solution you choose…
Action step:
1) Choose at least one payment solution.
In the next lesson, we’ll create a payment button and a thank-you page!
As always, you are welcome to post your questions and comments below.
Have a great day!
Eric I would also recommend you check out Google Checkout. I use to process everything through PayPal but a lot of non-internet savvy people had no clue who PayPal was but everyone has heard of Google and they seem to “trust” Google more.
J.R.
Yes I’ve tried Googlecheckout and it works OK. I did list it in the video, but it’s not one of my “recommended” solutions because I’ve read several complaints about it from other internet marketers.
But you are right– Google has a known and trusted name, and that does give them a certain advantage. Thanks
How do you rate AlertPay as an alternative for people from countries that cannot use PayPal?
They basically have the same facilities as PayPal but cater for many more countries. Their fees to transfer dollars into my currency is the best I could find anywhere and they are fast.
Just a quick thank you Eric,
Another helpful tutorial. I am going to say that you have changed my perception of the internet marketing world.
Thanks for helping me with the question I had this week.
Eric is one of the most down to eaarth and approachable internet markerters that I have ever come accross and before I buy any product I always check his tips as I am sure to get impartial advise.
Thanks Eric.
Thanks to financial services!!! Online business services saves your time!! The main benefit to each customer is convenience.
I have not used AlertPay, but I just looked at them and they seem decent. They are Canada based, and their fees are actually slightly less than 2checkout.
Thanks!
i now have a hostgator reseller account,a clickbank account and a paypal account. i have been following your tips and doing as you say.i have yet to make any money from all of this but i havn’t felt ready yet.i’m currently trying to built a list thru magicbot with paul ponna i’m slow but i’m on the track i set for myself i’ll jump in when i feel like i know enough not to be a total fool at this.i did learn one important thing on my own and thats what i would like to past on to the next newbie the most expensive stuff a marketer sells you always starts with the word free!! you are his best target market’remember this it will save you a lot of money!
Eric, have you had any experience or have you heard any reliable comments about the service offered by PayPal competitor Safepay?
Hi Guys,
Some of the payment process companies have nasty sign up fees.At least a Paypal button is free. I like how Paypal do all of your paperwork as well !!!. But I have had a hassle with a $770 sale refund that froze my account and put my credit card at a fee refund risk, which was out of my control. I was so mad. Eventually, through negotiation, they saw my point,I won and now we are best friends.
I have not heard anything about them. Perhaps someone else can comment on this…
Yea, these shopping carts are giving me a headache already. But you’re right, if you’re not accepting online purchases, you’re as good as done in the business world. One option for a business or even an individual if you’re consistently paying the same person is ATMCASH. They allow you to send thousands for only $5 every time you have to send the money. PayPal is nice, but go to https://www.atmcash.com and you’ll see why ATMCASH is much more PRACTICAL!
That’s not a payment processor…
Eric,
When I went through the Butterfly Marketing course it was recommended to join a payment processor company by the name of iMax…which I did join. I guess iMax is suppose to have the cheapest transaction fees as well as the best support. I was under the impression that you were charged fees whenever someone charged through your account but soon realized that there was a pretty high monthly fee regardless if you had charges are not(being a newbie I didn’t know it…should have read the fine print first). It probably is a great company but please make sure you don’t join one of these companies until your ready for sales.Paypal is great for starters.
🙂
Get 150 *Top Quality* NICHE Websites With Your Paypal ID On Each!
http://Instant-Paysites.com
Hi Eric, thanks for the great video again. I have Paypal and it works well. I’d like to use Clickbank as well but have not done my homework yet. I look forward to your video on Clickbank. Quick question: do you need to have an affiliate account as well. I know that they charge a “set up fee” to set up as an affiliate – I think it’s around $40 or so – is that per product or a one time fee.
I hope to be ready soon to have a product I can have an affiliate program with.
Thanks Eric
Actually it’s the other way around… an affiliate account is free, but they charge $50 to be a vendor (after they’ve approved your product). The accounts are one and the same, so you can both sell your product, and promote other products as an affiliate from the same clickbank account.
Great video as always Eric ! I use Paypal mostly because it is the safest and they don’t have a monthly fee for the program that I am using. Also with Paypal you can set it up so if your customer does not want to use a Paypal account they can still purchase my product with a credit card.
I have also signed up with 2Checkout.com but am having some set up problems, believe me the problem is more my lack of knowledge of setting it up than theirs. But I believe that having a second payment option is a great idea.
What service do you use the most Eric?
Sincerely;
D.T.
I probably do the most volume through clickbank. After that, PayPal. And then 2checkout. You’ll get the hang of 2CO… once you’ve set up one product, it’s just rinse and repeat.
thanks for the tip!
Thanks Eric, is that a one time $50 fee or per product that you want to sell through clickbank?
This information is fine and probably all very good but what happens if you live outside of the USA?
i am a marketer in Panama City, Panama and the biggest problem I have is getting the funds to my account here in Panama. Currently, I have a PayPal account to accept payment then I need to transfer to a checking account then use a debit card to access the cash through a ATM. This is simply not working anyone have any ideas?
how do you place Epay /Epayarea.
Uzor
It’s a one time fee per account. You can sell up to 500 products on an account, but your affiliates can only send traffic to one sales page (unless you do some programming or use a special script, but then you also have to communicate that with your affiliates). Therefore, many marketers choose to open a seperate clickbank account for each product they launch.
thank you for the information very useful tool, it will be very useful for generating income on a website or blog, once again thank you for the information
Easy answer: If you have a preferred or business account, request a PayPal debit card! There’s a place on their website where you can request one. As a bonus, you get 1.5% cash back at the end of each month for debit card purchases. Only thing is I don’t know if this is limited to US addresses. Worth checking out…
Another one to check out is WorldPay. As a customer, I had a problem with a PayPal subscription (from a hosting company), and the seller had Worldpay as an alternative option. As a result, I used WorlPay and had no problem.
A note about Google Checkout: Again, as a customer, after a purchase using Google Checkout I received follow up sales information from the seller (or was it Google Checkout?) that was confusing about the relationship between the two, and it made me nervous about doing business with either after that.
Re PayPal: As a seller (and buyer, too) I’ve had very good phone support from PayPal when needed.
Eric, this is a great lesson, I find out info I don’t know…
My favorites are PayPal and ClickBank. Doing eBay for years, PayPal has done a great job for me, now doing Affil Marketing still my favorite are PayPal and ClickBank as well. What I valued the most is that they handle the security.
Thanks again for a great lesson, I always learn from your lessons.
Regards
Michaela
Hi Eric, I was facinated by your letter on payment precessing solutions. In most African countries, most of the payment processors you talked about do not allow certain African countries to participate. Recently I found http://www.epayarea.com, they accept African services, but I knew little about them and I want to do business with them. What advice do you have for some one in my situation.
Eric,
What can you tell us about e-junkie? I have used them in the past, good results, with digital downloads. I see now they will combine tangible products with instant download products in one shopping cart. Do you have any feedback about the company?
I wish I had some feedback for you, but I have never used e-junkie. However I have seen other marketers using them, and they do seem to be geared toward infoproduct marketers, so they may be worth checking out. I’d like to hear anyone’s experience too.
Essentially, my advice is to use whatever processor will work for you. Make something work. And then begin the process of establishing a business address in a country that will give you more options. An alternative to establishing an address would be to partner with someone in another country.
Hi eric, great and fantastic tips on your site!
I will like to use clicbank, my consern is that there is no phone number to contact them in case i have a urgent problem and i am scared not to get a reply from them by email. I will like to know if the frozen acount problems and others like with paypal happen with clicbank.
Thank you for your great tips
Eric,
I often wondered if you would ever consider selling your Lessons from 1 to 53 I think is the latest? Maybe in a huge EBook with several additions?
Thanks,
Charlie Springer
Eric,
Is there a reason why you chose Clickbank over Paydotcom? I don’t use either, just curious what your thoughts are.
Thanks,
Bill
hi eric .
1 – i am living in iran we cant use of for example e-money , paypal and …. now how we can earn money from internet ?
2 – do you suggest working with http://www.earn2gether.com ?
thanks .
Hi Eric, South Africans can’t use any of these payment processors unless they have banking accounts overseas. Here’s one they CAN use –
https://www.setcom.com/www/signup/?SRI=807317B2FB
– I use it and its reliable, fast and free.
Val Waldeck
ERIC,
After 1 year my probation officer has finally approved my first online business. I am approved for ebay selling from a reseller’s catalogue!
I don’t know how to get started other than consulting someone I trust, which is you. I need your advice on who can advise me on ebay selling? Who has a good course? No affiliate marketing or anything other than what I have been approved for. Whatever other advice you may offer will be greatly appreciated.
Thanks,
Kent R. Stryker
Half of the training is complete, and all of a sudden you’re bombarding us with sales. Come on dude! Speaking for myself, I haven’t made any money and I don’t have any money. I think you may have pulled the cord too soon.
Hi eric,
My Story
This is Nicolas from Tamarindo beach in costa rica. This message is to thank you for all your great advices. I started to watch your videos like 10 months or one year ago. I just wanted to share with you my joy and happiness. One year I go I had no knowlege about websites. Now I know a little bit thanks to you.
The reason that i’m so happy is that my webasite (http://www.tamarindobeach.ws) finally is starting to generate income! Yes! It has not been easy, I took me one year to finally see the light.
I did not know at the beginin what to do or how to pic a topic of interest.
Well I just said to my self well I live in Tamarindo Beach, the main source of income is the tourism, ” I want to show to the world how tamarindo looks like” how the hell do i do that?
I started with my digital camera(picture camera not, film camera) to shoot a video of the property i manage, then I had to learn how to edit the video, which I did, and then how to put it in the website, thank god for the person(s) who invented “the embebed” action.
To make the story short, right now im getting good traffic to my site and everybody here is happy with my work.
So Pura Vida! ANd I hope you and everybody here likes my website.
Don’t worry, we’ll finish the 100 lessons. Sorry for the delay. Those who have been subscribers for years will know that I often work in spurts. This season I’m working on streamlining my business, and sure I’ve promoted a few things but if you want to see what “bombarding” is, just try signing up for some other marketing newsletters 😉
Cool, glad to hear it!
here are some Ebay resources:
Silent Sales Machine
Tom Barnes
Salehoo Wholesale directory
First, read this to get some inspiration:
Then figure out a way to make it work 😉 I know that doesn’t sound helpful but that’s what it comes down to. Find someone in your country who is doing business online and find out what they do.
Ultimately it will be helpful if you work toward the goal of getting a credit card too.
Clickbank is bigger, has more affiliates, and is now investing a lot in their technology. Paydotcom is a good resource, and its run by my friend Mike Filsaime’s company. But I think Clickbank provides more opportunity for vendors to gain affiliate support.
It will be lessons #1-100, and yes at that point I will sell them in a few different formats 🙂
Clickbank is a big company now, and seem to be reliable. I do think they have a phone number listed somewhere also. Since I’m a top vendor/affiliate I have a dedicated account rep, and multiple phone numbers for them. I have never had any trouble communicating with them and they’ve always been responsive.
The only cases I’ve heard of clickbank accounts getting frozen was for serious violations of their terms of service.
thanks eric for your answer .
but how do you think about working with http://www.earn2gether.com
thanks again.
dont you want to come to iran ?
can you introduce some affiliate programs that work with liberty reserve ?
thanks
I an not familiar wit hthat site but it does not look like a payment processing solution. It looks like a typical GTP (get paid to…) website. While these sites may provide the opportunity to make some cash, they are by no means a method of building a real business.
Sure I would love to visit Iran.
I am not familar with Liberty reserve.