Seven Ways to Collect Money Online for Small Businesses

[edithy]

Business owners definitely do not lack options to collect money online. Here are are seven different ways we found which you may want to consider:

1) Paypal
Paypal allows anyone to pay in any way they prefer, including through credit cards, bank accounts, buyer credit or account balances, without sharing financial information.

Cost: Setup Fee: $0. Transaction Fee: Minimum 2.9% + $0.30 USD Minimal collection: None

2) Google Checkout
Google Checkout allows anyone to pay in credit cards.

Cost: Setup Fee: $0. Transaction Fee: 2.0% and $0.20. However, if you’re an AdWords advertiser and you’ve linked your Google Checkout and AdWords accounts, you’ll be eligible for free transaction processing. Minimal collection: None

3) Amazon Checkout
Checkout by Amazon accept payments on your website—you simply add buttons (snippets of HTML code) to your website.

Cost: Setup Fee: $0. Transaction Fee: 2.9% + $0.30 for all transactions. Minimal collection: None

4) Bill Me Later
Bill Me Later lets users pay without using a credit card. At checkout, provide your birthday and the last four digits of your social security number and your purchase is complete.

Cost: Unknown Minimal collection: Unknown

5) Prosper
Prosper is a people-to-people lending marketplace. Instead of listing and bidding on items, people list and bid on loans using Prosper’s online auction platform.

Cost: Setup Fee: $0. Transaction Fee: For Borrower, 2-3% closing fee or $75, whichever is greater. Minimal Amount: None

6) Fundable
Fundable.com lets groups of people pool funds to make purchases or raise money. Each project has a description of how much money needs to be collected and what it will do. Once enough pledges (not payments) have been collected, Fundable turns them into real payments and sends the total to the project’s organizer.

Cost: Setup Fee: $0. Transaction Fee: 10% fee taken from their totals Minimal Amount: $100

7) Chipin
ChipIn allows anyone to collect money for a personal cause, group purchase, or fundraiser using their own custom ChipIn page.

Cost: Setup Fee: $0. Transaction Fee: ChipIn does not charge any fees to organizers and contributors of events that send payments directly to the Organizer’s PayPal account. However, PayPal Premier or Business accounts may be subject to fees from PayPal. Minimal Amount: $0

[twilliams413]

Great post! For those of you base in the UK another site which is geared towards collecting group payment is GrouPAY