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Credit Card Payments Lead To Online Sales Success
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By Matt Bacak
Maximize your online sales by learning how to process credit card
payments
through your web site
The ability to take credit card payments through your web site is
essential to the success of your business. Nearly all online
purchases are made by credit card payment, and offering your
customers a fast and simple means by which to buy your product will
result in more sales and better word-of-mouth advertising. However,
many people mistakenly believe that all they need to accept online
credit card payments is a “shopping cart” option on their site. The
truth is, a shopping cart is only one small piece of the puzzle.
“A shopping cart is important in that it creates an order form and
keeps track of your sale, but it doesn't actually put the money into
your bank account,” explains Matt Bacak, publisher of the Powerful
Promoter Newsletter and an online marketer who trains speakers and
authors. “The first step to successfully accepting online payments
is to understand the way money gets from the Internet to your
account.”
You've probably purchased a number of items on the Web and are
familiar with the way an online shopping cart appears to a customer.
But do you know how your credit card payment, made via the shopping
cart, eventually finds its way into the pocket of the product's
seller? Even if you've been selling products online for years and
experienced a degree of success doing it, you may not be aware of
how credit card payments are processed. You're also probably unaware
of the enormous benefit credit card payments can have to your bottom
line.
“Surveys have shown that as 68% of shopping carts that are initiated
on the Web are abandoned before completion. This happens because the
customer becomes confused about the payment process or about what he
or she is actually buying,” says Armin Morin, an online marketer who
has made millions promoting and selling products on the Web. “Even
if you've been successful accepting PayPal payments, the ability to
process credit card payments will benefit you. PayPal requires a
customer to take a few extra steps, increasing the odds that they'll
just decide it's not worth the effort. If they can just type in
their credit card number and be done with it, they're yours.”
So how exactly do online payments work? Well for starters, you will
need that shopping cart option on your site. A number of software
programs including the popular Kickstart Cart are available to help
you achieve that. Next you'll need a bank account. And finally,
you'll need the two key “go betweens” in the journey between cart to
bank - an Internet gateway and a merchant account.
Your Internet gateway takes the information collected by your
shopping cart and keeps a running tally of what's been ordered. It
also collects the information related to payment method, and “runs”
the credit card. That information is sent on to your merchant
account, which receives the payment and in turn pays you. The money
is direct deposited into your bank account.
“A merchant account is really the best way to process credit card
payments through your web site,” says Morin. “I would still have a
PayPal account and still offer that to your customers as a means of
payment. Some people do prefer that. But don't be surprised if only
about 10% of your total sales come through PayPal.
By accepting credit card payments online, your sales will increase
even if your web site traffic doesn't. Customers will appreciate the
ease with which they can purchase items from your site, and will
recommend your product to family and friends. The key to sales
success is and always will be customer service. By quickly and
effortlessly accepting credit card payments, your web site will
automatically be offering a level of customer service that has come
to be expected.
Matt Bacak became "#1 Best Selling Author" in just a few short
hours.
Recent Entrepreneur Magazine’s e-Biz radio show host is
turning Authors, Speakers, and Experts into Overnight Success
Stories.
Discover The Secrets To Unleash The Powerful Promoter In You! Sign
up
for Matt Bacak's Promoting Tips Ezine ($100 value) just visit his
website at http://www.powerfulpromoter.com or http://promotingtips.com.
Article Source: http://EzineArticles.com/?expert=Matt_Bacak
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