After deciding on the business you are going to run online, the next decision that may likely come to your mind is on how you are going to receive your payment.
This has been a lot of challenge with many businesses and since the web is filled with many different payment method and services , making the proper choice of the best for you may take quite some times.
briefly I will take you through what you should look out for, when choosing any payment service for your online business.
What to Consider When Looking for a Good Payment Service
As an entrepreneur, you must have considered your product and it customers before starting our business, so here are what you should consider:
#1. Your Potential Customers
While it is easy to choose a good payment service for your business, it may not go down with your potential customers. If they don’t have what it takes to pay you, you may not get patronage from them. Take for example, if you decide to use PayPal and Nigerians today are very skeptical about PayPal; do you think they will want to buy what you are offering? well, they might if you are the only business providing such service or product. After considering the convenience of your customers you can now move to the next point.
#2. Credibility of the Available Payment System
This is the point where you are now prevented with the choice to choose from the available payment service. What many will want to go for first is the service that suites them as per business concern, but i would rather go for credibility of the payment service. When i said credibility, I don’t speak only from my own business point of view only but, also considering my potential customers point of view. This kind of information will only help your business in the long run. Who says all online business should not be credible? but as you already know, not all payment service out there have such credibility.
#3. How to Receive Your Payment
I am saying this in relation to my home country Nigeria, you can bet it is not all payment service that gives you easy access to the withdrawal of your money. Today PayPal has set an embargo on some countries for reasons best known to them. if you choose PayPal, and you happen to come from the blacklisted country or countries under-probation of that payment service, you may not get you money into your account. So choose the service that will give you that quickest access to your money when you products are been purchases buy you customer.
Looking at the above points, I will recommend the following payment services,
Payoneer: Presently the best payment service in the world.
PayPal: They are great also, I consider them as number two.
MasterCard: Whether locally or on international level; MasterCard have done great in providing efficient payment system which has been integrated with almost all the local banks in every country. so you can make and receive payment with ease. go to your local bank and find out how to use your master card.
Many other payment services are integrated either to your local bank, or to the payment services mentioned above.
N.B: the business considered in the post above is only for the online entrepreneurs.
now let me know your view,
have made any payment online? how was the service of that payment system like?
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Josh S. Doye is a business developer, freelance content marketer. you can contact him for more enquiry via the contact page on this blog.