There is no doubt about the fact that the internet is the greatest market place ever discovered, anybody connected to the internet can buy and sell in respective of ; race, religion, language . That brings up a problem, how do you pay for goods and services you want to buy and how do you collect your money, in case you are selling online?
HOW TO MAKE PAYMENT ON THE INTERNET.
To make payment on the internet, you can use visa card, MasterCard or paypal. Most bank in Nigeria now issue master cards but be sure they are being accepted online before applying for it. All you need now to get a master card in Nigeria is $100 but checks with your local banks for more information on this, as now GTbank issues MasterCard same as zenith bank which calls it websurf, also oceanic bank plc check with them for information’s.
They are two types of visa cards, they is the electronic (virtual) visa cards as well as the plastic, the virtual visa is very good and you can get it from www.graphcard.com . Of these two types there are the loadable and non-reloadable visa cards. The reloadable ones means that you can add fund to them but the non-reloadable ones means you can use it and dispose it and each tie you need a visa card , you order another one.
You can also use your paypal account, graph card account, alert pay account moneybookers account, etc. to buy stuffs on the net. Depending on the means of payment acceptable by the site.
HOW TO RECEIVE PAYMENT ON-LINE.
There are several ways through which you can receive payment for your goods or services on the net; you can collect your money through Egold, paypal, etc. I will analyze a few below.
PAYPAL: - they do not accept Nigerians but the truth is you make a lot of sales when you use this payment processor. Why? Most people have a paypal account and it makes checking out easy. To sign-up for paypal, if your country is not accepted, just adopt another country which they do business with and use an address there to sign-up.
WORLDPAY: - `this is essential for those people that are having problem with having a merchant account due to the factors that they are not located in the US. Worldpay is a one-stop solution for your merchant account, payment gateway and store front. The payment option comes with fraud protection and risk management applications to safeguard your business. Based in England, worldpay is a division of royal bank of Scotland.
If you compare the paypal, world pay’s fees are pretty stiff $50 US monthly fee. $400 US setup fee. Transaction fee are 3.25% +$0.40US. The charge for multicurrency processing is 5.25%per transaction.
2CHECKOUT: - this works as an online distribution centre. When a customer buys a product from your site or blog through 2checkout, you actually make your sale to 2checkout for immediate resale to your customer. Customers are billed by 2chekout not you. 2checkout all you pay is a one-time set-up fee of $49 US. There is no monthly transaction fee: 5.5% + $0.30US
CLICK BANK: - this payment process is excellent for selling e-books, reports and other similar digital products. The great thing about click bank is that it is over 100 thousand affiliates promoting products available on the Clickbank marketplace. By listing your products with click bank, you automatically tap into a huge potential market. Clickbank accepts all major credit cards and paypal. To set-up your account you need $50US set-up fees.
Depending on the percentage of the commission you pay to your affiliate, transaction fee varies from 2.5% plus 0.33US$ to 7.5US$ plus 1US$.
Other options like alertpay, moneybookers, etc but you have to compare their rates to decide which one to use.
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