What Payment Processor To Use?
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When you are taking payment on the internet, you need to have a payment processor. This is a service that will collect you customer's credit card information and to tell you if the order was successful or not. Locally setting this up is fairly easy and all you have to do is create a sales letter, and a download page. And after somebody pays you it simply redirects them to the download page. And they did not pay you it does not redirect them to that download page.
You have a few choices out there about, what payment processor you should use, lets figure out which one is right for you. Your choice is basically PayPal, Clickbank or your own merchant account. If you're not sure, start with PayPal. PayPal has a very easy setup process, it's free and once you are proved, you can create as many buttons as you want and sell as many products as you want. You can get setup in a few minutes. The only drawback to PayPal is that it does not have a built in affiliate program which means you cannot set things up where other people recommend your product to their subscribers and customers. For that you can use Clickbank.
This service has its own pros and cons. First of all it does have a built in affiliate network. Which means as long as you sell on Clickbank, literally, anyone can promote your product for 50-60% commission. The problem with click bank is that, they handle most of your customer support for you. So, if customer wants a refund, they can contact Clickbank directly. And to pay for these customer support costs Clickbank takes out a slightly higher fee or percentage out of every sale and this is how services like PayPal and Clickbank make their money by taking out a tiny processing fee out of every transaction the other thing with Clickbank is that they do require you to pay $50 as a setup fee but it's only one time. And after you're set up and after you've set up they will have to approve every additional button or every additional product you have for sale. And this process takes a couple of days. But the thing about Clickbank is that all these extra affiliate sales are just that!
Extra... The sales you would not have had if you stayed on PayPal. That's why I'd recommend you start with PayPal and move to Clickbank. And then there is an option of having your own merchant account. Which allows you more control, for example allows you to take credit card payment directly onto your sales letter instead of requiring you to link and to be able to click over to that service, but there's higher fee and more risk, risk of you to losing that merchant account, there are more restrictions, and you have to keep money in the bank for the longer period of time. That's why I would stay away from merchant account for now and start off with PayPal and once you made a few sales then I would Clickbank to have an affiliate program and in the future if you grow big enough think about having a merchant account.
Create your sales letter, payment button and download page with PayPal by following along this easy video instruction at www.newbiecrusher.com.
