- Joined
- Mar 16, 2012
- Messages
- 252
Rep Bank
$665
$665
User Power: 59%
Thank you for the information.All payment options have risk.
Credit card processors can shut you down and hold your money, too.
Even bank account based payments are not completely "safe". With direct debit inside the EU for example, customers can get their money back immediately with a click of a button in their online banking withing 8 weeks or more. Of course it has legal consequences if they do (its basically fraud), but the possibilty is there. But in Germany its the most commonly used payment method with a very very large lead (basically the equivalent to credit cards in the US), so you cant ignore it.
Safest is obviously advance payment via wire. But who likes to pay with that? Some of my customers do, but I have to cancel a lot of these orders because they simply dont pay/forget about it.
You have to find a balance between risk/control and conversion rates. Because most customers like paypal/directdebit/credit card... Diversify. Build a relationship with your payment processor when you start doing higher volume. Have alternatives set up ready to go in case somebody shuts you down for whatever reason.
I definately need to read into this topic more before putting my business online.
I don't expect many sales in the start(I don't get high hopes, as I'd rather be surprised than to be dissapointed.), but you never know.
So far the plan was to put everthing through paypal, as it accepts direct debit, credit card, Ideal(imo the best way of payment...ever) and paypal payments.
But this post makes me think twice.
So I'll have to go read and think about other options(Not all options are available for me as my company is not based in the US/Canada)
On first view Google wallet however looks like a potential other option. (Just a first view, did not research them yet)
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today