Latest posts by Saad Naeem (see all)
- Reasons For Accepting Payment By Credit Cards For Your Affiliate Marketing Business - January 11, 2013
- Seven Top Advantages Of Having An Email Autoresponder - July 1, 2012
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For an online business, it is almost a necessity to offer the option of making payments by credit card to users. There are many reasons why this is so. When customers buy products online, be they software, ebooks, cosmetics or any other products, they look towards have safe and convenient options for making online payments. Nothing serves this purpose better than credit cards.
When customers have to choose a payment option, they want one that is secure, reliable, and convenient and can be traced. Credit card payments make up for over 70% of the total online payments, showing that they are obviously preferred over methods like echecks, bank transfer and PayPal. The reasons why credit card payments are always preferred by users are:
Convenience
Payments by credit cards are convenient are immediate. Other methods like bank transfer and echecks take a while to be processed, delaying the purchase process. Although PayPal is also instant, it is a lot more complex when compared to credit cards. The checkout page of PayPal has a lot of steps, which people would rather not fulfil, resulting in abandoning of the process. Credit cards are fast and do not require any additional steps.
Tracking
The processing after making a credit card payment can be traced along its progress by a customer, so that he is aware of what stage his transaction is at any given point of time. Any undesired payments can be cancelled and refunded to the card, unlike bank transfer and echecks. For money-back guarantee, credit cards are most effective payment methods as the amount can be refunded to the card at any later point of time.
Customers
Hassle Free!
One can make payments directly on websites using credit cards. For PayPal and other services, customers have to register and open an account on that software. The process is very lengthy and can get tedious. Customers abandon such methods for this reason. Having the direct option of credit cards is most convenient for sales.
Effective and Efficient
As per customers, credit cards are an effective and efficient method of payment compared to other methods. One strong reason for this is refunds and money- back guarantees by companies. Credit card users can also win reward points for their purchases, which on later redemption, give exciting awards. These are the reasons why consumers prefer credit card payments over all other methods of payment.
Credit card payments are most preferred over other payments by customers. However, for a website, it is safer and advisable to also have options of other payment methods including PayPal, echecks, etc. By doing this, you are providing a wide range of payment methods for users to choose the most convenient one for them from. If you want to accept credit payments and other payment methods on your site, then you must open a merchant account or just sign up with companies such as Click2Sell.eu. This will enable you to accept payments by all methods and also keep any fraudulent orders out of your way. It will safeguard you fro any online scammers and fraudsters. At the same time, customers can be sure of easy, secure and convenient payments to your site. Thus, all parties win.
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Twitter: bollywoodle_in
this post really makes sense..
and yeh its really hassel free!
Thanks maty
One negative I can see and have seen with CC’s is that when a customer is buying a digital product once it is cleared and goes through if they make a complaint to their CC company, the company can take back the money, you get a chargeback and the customer still has their product. Selling digital products online is very hard in this way. Other than that I agree with your post and it has a lot of valid points and tips. Thank you!
Ron recently posted..The Next Social Network PLR Ebook with private label rights
Twitter: TechAndTeaching
Yeah, but that’s not just a CC problem. You can get screwed over by PayPal too. Scanners will hack an account and make payment, and the payment will be reversed in a week or two (happened to me). And people can easily dispute PayPal charges too.
Id say the convenience of CC payments (and tapping into all those extra potential customers) far outweighs the drawbacks.
Brian Rock recently posted..Civil War Webquest: Going Undercover and Writing a Spy Handbook
Rightly said Ron. IT really blew my mind. Thanks!
Rohan Shankar recently posted..New Quad Core Tablet from Micromax 2013
The whole idea of dealing with credit card payment was neatly put forth yet we cannot skip the dark side of the same when we think the world has scammers all over!
Twitter: PTgifts
Thanks for the info Saad, I was particularly surprised to find out “credit card payments make up for over 70% of the total online payments” I had imagined that Paypal would’ve had more of a share. Luckily our site already accepts all methods but originally we did just rely on Paypal and Google checkout.
Michael McNeillis recently posted..Keep Calm
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Yea Micheal , Even I was shocked when I saw 70% people use creditcard online but I am sure other 25% is by paypal haha.
saad naeem recently posted..Ultimate Guide To Get Traffic From Forums
Twitter: rancorinfotech
Nice points Saad,
Best feature of Credit Card Payment that you can accurately trace to whom you made your payment.
Aasma recently posted..Travel Management System
“Credit card payments make up for over 70% of the total online payments..”
Can you please give the source for this bit of info?
I personally think PayPal is miles better and more convenient than credit cards. It’s extremely secure, and works universally. The signup process isn’t as lengthy as you make it out to be, and once you’ve signed up, all it takes is the click of one button to make a payment so its actually convenient as well. Credit cards often dont work with payments coming from outside the states.
Just my $0.02.
KevinR recently posted..A Checklist of Things to Do Before Publishing a Post
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Hi KevinR,
Paypal is not worldwide, I mean some countries are not allowed to use the service.
Social Lifestyle recently posted..Be Active While choosing the Radiators!
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You are Right. In india There are lot of Limitations for the Transactions with Paypal. My two got Auto deductions from their paypal accounts. And you cannot add funds to paypal account using debit card or bank account in Paypal account. Only Credit Card
Ravi recently posted..4 ways to Auto Post WordPress Posts to Social Networks
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I personally prefer to use Debit Card for my online transactions mainly because I have more control over my financials. I’d like to avoid those hidden recurring payments that certain online company charges.
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i am planning to launch an online shopping website…online payment through credit cards is really very convinient and hassle free….nice post
This is a great article and I can testify to the fact that I only pay using a credit card or if I use my debt card, I run it as credit to avoid any fees. I also heard about scammers at the gas pump stealing your card number if you pay as debt. Another benefit to paying as credit.
Accepting payments by credit cards is ok, but I can’t see anything wrong with accepting payments by Paypal. Somehow I feel, that is more secure by Paypal.
Just my opinion.
Bogdan recently posted..How to Improve Seo using Seomoz Toolbar and Services
Credit cards are really a must when transacting online. Nothing is more convenient, reliable and safe than this.
Sarah Park recently posted..How to Remove Waste from Your Life
i do my transactions through credit cards only.thans f d post.keep up
rahul recently posted..Blogging Goals of 2013 to Make More Money
Twitter: primejuicers
Hello Saad,
I remember years ago when most people told me that they didn’t use a cc online for anything. They didn’t trust people or the Internet. But, after e-bay, paypal, online stores, I’ll bet most of them have changed their minds. It’s just natural to be skeptical at first. I know I was and I was very careful and still am today. I use to have an online store and back then (15yrs) it was a different story. Today it’s much easier. Thanks for the article!
Rich Donahue recently posted..Juice Cleansing That Works Part I
Twitter: WinAppleWorld
Has this technology come to India? I have never seen it here anyways
Anchit Shethia recently posted..How to Cut Your Mobile Phone Bill
Twitter: tricky_techno
Yes,it has knocked the doors of Indian users.Go and make most out of it
Mohit Rajwani recently posted..TricksTreat Launching Post
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I haven’t seen it here. Hardly 0.1% people MIGHT be using. it will take time for this technology to get popular within people. Waiting for it
Anchit Shethia recently posted..Free Web operating Systems for You to Try
Twitter: tricky_techno
It is new and latest in the Market,and yes it will take some time for the Indian users to make use of it.
Mohit Rajwani recently posted..TricksTreat Launching Post
nice article. although much older than paypal and other methods, credit cards still dominate the online market.
arnelsr recently posted..Fire Emblem: Awakening
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I currently sell online from two different mediums the one being my own private site and the other a well know marketplace.
Because i don’t have a credit card merchant that I’m signed up with and Paypal doesn’t work on my site i offer EFT, and have noticed that i don’t get sales though this site but rather through the marketplace site, so its obvious that people feel safer using credit cards to pay because of the tracking and effectiveness.
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Yes,you are right i also love to receive payment through credit card because we can trace it anytime.
shubham recently posted..Top 10 Online Payment Processor for your business success in 2013
Twitter: tricky_techno
Credit card were est and they will be best,they are secure and all above reasons are very much true.
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Hi Saad,
I have been using a merchant since day one, and I do not know why so many people are stuck on using PayPal and eBay, or just PayPal, as the % is higher than the .08% of a merchant.
Justin Musiker recently posted..Clients That We Helped In 2012
Yes, credit card is way better. First because you can track everything and second because they charge less than Paypal.
However most people I guess are afraid to use their credit card.
I, most of the time use my credit card to make online payments, so I’m pro payments via credit card.
Leon recently posted..Mansion for sale in Texas, Dallas
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I have just started making experiment and linking up with affiliate marketing and thanks you made me aware interms of payment.
Rohan Mod recently posted..5 Proven Methods For Google Adsense Approval
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Hello there
ya I am totally agree with you that use of credit card is beneficial in affiliate marketing.It provides easy and effici9ent way of payment without any risk or damage.Thanks for sharing this nice post with us.
Mahendra recently posted..List of best torrent sites for movie download
Hey Saad,
Nice post and Yes, using credit card for payment is really beneficial in comparison to others and it also provide lots of convenience and have no risk.
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