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    Link: http://www.stormpay.com/?38120&payment_options)
  • Offer More Payment Options than your Competition
    Copyright 2003, Bill Platt

    In order to be successful online, you must provide your 
    customers many quick and easy ways to pay for your goods 
    and services. It is not enough to ask folks to send a money 
    order or check to your house or place of business. You must 
    go further. 
    
    
    OFFER MORE PAYMENT OPTIONS THAN YOUR COMPETITION
    
    The Internet offers too many options to consumers to find the 
    same products and services, for consumers to remain complacent 
    with just one or two payment options. 
    
    People are becoming more and more comfortable with the idea of 
    making secure online purchases. As a newcomer to the Internet, 
    folks may be apprehensive about spending money online, but 
    after having made a few successful purchases they become more 
    and more comfortable with this new medium and marketplace.
    
    For a lot of folks, the ability to pay with a credit card is of 
    the greatest importance to them. Yet, a lot of small businesses 
    either cannot or will not use a merchant account for the purpose
    of offering their customers more ways to pay.  
    
    
    THE UGLY TRUTH ABOUT MERCHANT ACCOUNTS
    
    Some advise that you must absolutely have a merchant account 
    to successfully operate an online business. They suggest that 
    any business without a merchant account is seriously lacking 
    credibility.
    
    Well that argument may be the absolute truth for some consumers. 
    But, if you were to look at Main Street USA, you would notice 
    that a majority of the sole proprietorships in this country do 
    not offer credit cards as a payment option. Yet, many of these 
    businesses do extraordinarily well.
    
    There is a reason why small business owners often forego credit 
    cards as a payment option. The reason is that merchant accounts 
    can cost a considerable amount of money to acquire and maintain. 
    
    Simply put, the cost of the merchant account makes it a 
    prohibitive option to a lot of small businesses.
    
    
    IN THE ABSENCE OF A MERCHANT ACCOUNT
    
    While small businesses may not use merchant account services, 
    they still need to have many payment options available for 
    them and their customers. 
    
    Many processors have popped up to fill this need. Some examples 
    include: 
    
     http://www.clickbank.com 
     http://www.ibill.com
     http://www.paypal.com  - Now owned by http://www.ebay.com
    
    
    While most of these processors get good ratings, there is also 
    a strong movement afoot by former members of PayPal who feel 
    PayPal has wronged them. The most common complaint leveled 
    against PayPal is the practice of freezing member accounts 
    without recourse.
    
    If you have a few days to spare, you could read about the 
    nightmares of some former PayPal merchants: 
    http://www.PayPalSucks.com
    
       (DISCLAIMER: I have been a PayPal member since October 
        of 2001 and have successfully completed hundreds of 
        transactions without problem.)
    
    
    WHERE DOES ALL OF THE MONEY GO?
    
    Online payment processors are the grease that oils the wheels 
    of the Internet. They enable individuals to pay for goods and 
    services they wish to acquire from small online businesses. 
    
    PayPalSucks.com puts the importance of online processors into 
    real perspective:
    
       "Some numbers to consider: PayPal does $16 million per day 
        in transactions. Multiply that by their 'average' of 2.9% 
        and you see they are making $464,000 A DAY, or about $14 
        Million a month."
    
    Dot Com entrepreneur's dream of these kinds of numbers. 
    
    
    WHAT IF YOUR BUSINESS COULD PRODUCE THIS KIND OF REVENUE?
    
    In order to begin to earn revenue at any level, you must begin 
    by offering your customers more buying options.
    
    There exists a payment processing option available to your 
    business that permits your customers to pay you by all of the 
    following methods:
    
     Visa
     MasterCard
     American Express
     Optima
     Discover
     Diners Club
     Cart Blanche
     JCB
     Eurocard
     Check
     Online Check
     Charge to Phone Bill
     Paypal
     E-Bullions
     E-Gold 
     NetPay 
     EvoCash
     Moneybookers
     PayPal
     Cash 
     Money Order 
    
    This new payment processor is called StormPay. 
    
    
    MORE ABOUT THE STORMPAY PROGRAM
    
    StormPay is a program that is very similar to PayPal, of course 
    with exceptions. As with other online payment processors, they 
    provide an opportunity to consumers to put money into accounts 
    in their program for the purpose of making purchases. 
    
    If someone prefers to use a credit card, then they will not 
    have to make a cash deposit. Credit card users will simply use 
    StormPay to securely process their credit card transactions 
    with StormPay merchants.
    
    StormPay reaches beyond their competitors in three distinct 
    ways:
    
     They support both weekly and monthly subscriptions.
     They accept payments for MLM's and income opportunities.
     You can earn money from your referrals and from their 
      referrals to six levels deep!
    
    
    STORMPAY HAS CREATED A WIN-WIN BUSINESS PLAN 
    
    StormPay wins with referral fees because they are gaining 
    new customers --- you win because you earn money by helping 
    StormPay to grow.
    
    PayPal also understood the value of referral fees in the growth 
    of their own business. From the beginning, PayPal has offered 
    a $5 referral fee to anyone who brought PayPal new members. 
    
    StormPay offers a higher incentive to you to help them grow:
    
     Each time a member in your downline makes a purchase you 
      will receive a percentage of the transaction fees. 
     They offer real-time campaign tracking results to help you 
      build your referral base.
    
    
    MULTIPLE REVENUE STREAMS INCREASE YOUR SUCCESS
    
    In a nutshell, businesses survive and grow by offering an array 
    of products and services. However, it is important that you are 
    very selective about the products and services you offer. Each 
    of your revenue streams should be similar in nature, or else 
    you run the risk of watering down your primary business. 
    
    For most small businesses, offering StormPay as an additional 
    revenue stream will make sense. If you are offering your 
    customers the option of StormPay as a payment processor, it 
    makes sense to also ask them to participate in the StormPay 
    affiliate program --- especially so if your products and 
    services are offered to other businesses. 
    
    
    IN CONCLUSION... MORE OPTIONS EQUAL MORE PROFITS
    
    As an online business, you must be willing and able to provide 
    more payment options to your clients. 
    
    It might also make sense to use more than one payment processor 
    to handle your transactions. Some consumers do not want to 
    register with a new payment processor so that they can buy from 
    you. Remember that your competitors are only two clicks away.
    
    If you were to choose only one payment processor, I like 
    StormPay best because they offer your customers so many ways 
    to pay for your products and services. 
    
       (NOTE: To be truthful, I also like StormPay because of their 
        affiliate / referral program. Click here to investigate 
        StormPay further and to sign up as a member and affiliate: 
        http://www.stormpay.com/?38120&payment_options )
    
    Please remember that my point throughout this article has been 
    for you to offer your clients as many ways to pay as you can 
    muster. If you will only take the time to expand the ways in 
    which your customers can pay you for your products and services, 
    then you will reap the benefits of greater sales by simplifying 
    the buying process for your customers. 
    
    More payment options open the door to more sales, thereby 
    increasing your chance of online success.

    Bill Platt owns http://thePhantomWriters.com . Do you need free content for your website or ezine? Our archives deliver more than 350 free-reprint articles available for your use. http://content.thePhantomWriters.com . Do you write your own articles? Let us distribute them for you to our network of 6000+ publishers & webmasters http://thePhantomWriters.com/distribution



    This article was originally written: February, 2003


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