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5 Easy Ways To Collect Payments Online

There’s no doubt that everyone can earn through the Internet. One big concern might be how you will be able to accept or collect payment when the time is right. Whether you are a solo entrepreneur or a business owner, the payment process is a crucial part of your trade. Thankfully, there are a lot of ways to accomplish this goal. In this post, let me share with you some of the best ways to collect payment online.

1. PayPal

PayPal is no doubt the king of online transactions. It’s the choice of millions of people around the globe. It’s even deeply integrated with different online services that leave other people without a choice but to use it.

The best thing about PayPal is its user-friendliness. All you need is an email address and you can set up a new PayPal account. PayPal can be used to shop online and receive payments. Since PayPal is a huge company today, you can have higher confidence that your online transactions are secured.

One drawback that I always hear about PayPal from other users is its high service fees. Especially when you convert currencies, they can really charge you significant amount of money. I guess that’s their bread and butter when it comes to earning from their awesome services.

2. Square

Have you heard about Square? This is a unique way to collect payment online. It’s actually a little device that you can plug into your smartphone’s headphone jack. It has the ability to read credit cards and accept payments. Of course, this also works without the small device since you can manually enter the credit card information into the app but the little device helps you do business transaction faster.

The best thing about square is that you can conveniently receive payments through your phone. This can be used for personal or business purposes.

To make things even better, Square can be used to track your sales in real time, prepare taxes, manage your inventory, analyze your business performance, produce receipts, and create financial reports.

Like most companies, Square charges you 2.75% for all transactions. That’s it. There are no extra charges or anything that makes calculation too complicated.

Please take note as well that for now, Square has some limitations. It’s only available in the US and It is only compatible with iPhone and Android. So if you are a Windows Phone or Blackberry user, you will not be able to enjoy the services of Square.

3. Stripe

If you have been around for quite some time in the online business, you have probably heard of Stripe. Actually, people consider Stripe as one of the best alternatives to PayPal. There are some features that convince people to switch to Stripe and I think the reasons are really valid.

Stripe initially started to target developers. They are known to give users the ability to use different tools and customize their experience based on their specific needs and preference. The whole suite of tools of Stripe is very effective when it comes to handling in-app payments and marketplace transactions.

So basically, Stripe lets businesses create their own payment forms. This is an attractive payment method for that business who want to establish a better brand image and stand out from the competition. You can also seamlessly integrate Stripe with different smartphone’s operating systems. To make things even more attractive, there are more than a hundred of currencies that Stripe can accommodate.

4. Interac E-Transfer

Interac offers their E-Transfer to enable people to perform online business transactions, whether it be receiving or sending payment. The Interact E-Transfer is widely used in Canada and most Canadian are familiar with this world-class debit system. As this might be the case, E-Transfer can also be used outside Canada.

There are a lot of love about E-Transfer. First of all, there are numerous financial institutions that use this debit system. This means that you won’t have a hard time using E-Transfer as it is most probably integrated with the services or products you are currently using.

In addition to this, E-Transfer is very easy to use. You can instantly receive money directly from one bank account to another. All you need is an access to the internet and you can send or receive money from anyone with an email address, mobile phone number, or a Canadian bank account. It’s really a great alternative to cash and cheques.

5. Payoneer

As of this writing, Payoneer has three million users, used by people in over 200 countries, and accommodates over 150 currencies. These are just some of the best things about Payoneer.

With Payoneer, you can easily receive international money transfers from any company and individual around the world in a quick, secure, and cost-effective manner. Some of the popular companies that Payoneer works with are Amazon, Getty Images, UpWork, Taboola, Fiverr, 99 Designs, and Airbnb.

Payoneer is also known to have lower fees compared to its competitors. There are different payment methods that can be used by individuals and companies. Moreover, there are two ways to withdraw your fund. This can be done through your bank account or Payoneer Prepaid MasterCard.

Conclusion

These are just some of the best ways to collect or receive payment online. Remember that each choice has its own advantage and disadvantages. This is the main reason you need to do additional research. For now, I would say that this list is the perfect place to start exploring your options.

Maurene M
By Maurene M.

Maurene M. is a beauty blogger + a digital strategist. Lover of everything beauty & fashion. You can find me at MakeUpByMissCee.

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