Accepting online payments through MasterCard, Visa, and American Express etc is a four step process. However, before this can happen certain things are required.
- The first thing you require is an Internet merchant account. This can be set up through any major bank.
- The second is your shopping cart software to display your products.
- Third is a payment gateway. This is the software link between your shopping cart and merchant account
Accepting payments through PayPal
This process can be a lot simpler and all online transactions are processed and deposited into your PayPal account. The standard option allows you to accept payments online with PayPal . You can accept Paypal, credit card and bank transfer payments directly from your website, and includes optional shopping cart integration.
Website Payments Standard
There are no set-up fees or monthly charges. There is no application process and no cancellation fees.
You start paying transaction fees when your online shop starts receiving payments.
This is a service that allows customers to pay using a PayPal account instead of a credit card. They do not have to enter billing, shipping, and credit card information because this information is already stored with PayPal.
Website Payments Pro
This allows you to create your own online checkout experience, layout, colours, language ect.