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Taking It All In

Not sure how to get e-shopper's money into your pocket? Credit cards or e-cash--find the payment method to fit your needs.

This story appears in the December 2000 issue of Entrepreneur. Subscribe »

It's a fact: Your e-tailing Web site will not survive unless customers can pay for their purchases with minimal disruptions and maximal convenience. Whether you decide to accept credit card payments or online cash, you've got to ensure those transactions go through as seamlessly as possible.

Accepting Credit Card Payments

If you choose to go the credit card route, you're going to need an Internet merchant account with a bank. Not all banks support Internet merchant accounts, so check with yours to see if it does (or if it's affiliated with a bank that does). For this service, most banks charge a one-time setup fee, plus a fee for each transaction. Transaction fees vary widely, from 1.65 to 5 percent of the gross sale, and depend on the volume, the type of product and the average ticket price. Fees may include an additional 10 cents to 40 cents for transaction, batch and statement fees.

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