Online Payment Methods

Request A Free Website Analysis

September 13th, 2007 by Click Consult

The options for receiving online payments have been expanding. Gone are the days when an dedicated payment gateway is needed, now online payment accounts are the accepted norm.

Both systems are very similar in the service and style. The Customer & the Retailer have specific online accounts that monies are moved between as payments are made. The middle man of Paypal or Google, processes the card details, ID verification etc. These systems offer a simplicity to receiving online payments suited to business of all sizes.

These payment methods also have scope for encouraging more sales to an e-commerce site and open up the markets providing a draw for new business, as Paypal claim to have over 1 billion accounts.

Being able to accept online account payments can give an option to a customer who may be a little weary of entering their card details to a relatively unknown site. And with many of the online payment accounts linked to eBay, there is a wealth of online balances that can easily used for impulse buys and easily justified spends.

The two leaders in these systems are Google Checkout and eBay’s Paypal. There are others and many more have fallen by the way side. Google and eBay have gone head-to-head over their respective payment methods. Which came to boiling point earlier this summer, when Google set-up a promo event across the road from the eBay LIVE annual show. It went as far as eBay removing their advertising from Google, albeit only for a few days. Google checkout is now on the banned list of payment methods for eBay auctions. This could have you leaning towards the Paypal option in terms of market saturation, but Google not to be out done, have tied Checkout to adwords.

As Google checkout is in the launch phase, all payments are processed free, but from 2008 for every £1 spent on adwords will allow £10 to be processed via Checkout. Also as part of the checkout adwords combo, your ads can be verified to display a Google checkout logo. The benefits for this can been clearly seen as only a few adwords ads have the logo, but as this grows the benefits will be marginal.

The online payment accounts are not the answer to all eCommerce woes, as cost can be a big drawback. While Google offer the cash back scheme, standard fees average around 4%. A steep price to pay in comparison to some merchant accounts. Fraud protection is also a big factor, while the majority of transaction are worry free when a hitch does occur the big online companies can be difficult to deal with. Paypal has a cult following of detractors and Google will surly have plenty as the ball starts rolling.

Google Checkout vs. PayPal
Since last summer Google has introduced a new checkout, which originally has been available in the US, but was launched in the UK on 13/04/07. Google claims that it was designed to improve user experience and that thousands of retailers…...
Accepting Online Payments
If your website will be used to sell products or services then your website development should include the capacity to accept online payments. Most ecommerce websites, even those offering the services of consultants and service providers, can benefit greatly from…...
Affiliate Marketing Payment Options
Affiliate marketing requires the selection of the most appropriate program for your needs. As well as looking at ticket prices, payment levels, and payment schedules you should even consider the payment methods that are offered. Some affiliate marketing programs… may...
Google Email phishing Scam Attack
Over Easter, many adwords advertisers opened their inbox to find Easter gifts from Google. Card payment failures, disapproved ads and payment details requiring updates all appeared to flood in while we were having Easter dinner. Quickly, details were checked and…...
Choosing Shopping Cart Software
If you're managing your own e-commerce based website then you will need to make a decision of which shopping cart… software best suits your needs. A good shopping cart allows for the display and sale of multiple items categorised so...