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Choosing Online Payment Options


2004-07-24

Consumer to Consumer eBay's paypal is the prevailing payment service for consumer to consumer transaction. Paypal allows anyone with an email account and a paypal account to transfer money to anyone who has an email account and paypal account over the net. The paypal accounts are tied to your bank accounts and/or credit card accounts.

Business to Consumer paypal is still an option for conducting B2C transaction. Online credit card processing is a must for online payment processing. This eliminates the prerequisite of an email account and paypal account though many require an email address for charge confirmation. For small businesses, the cost-effective option is to use a credit card processing service, instead of setting up your own service. Many services don't even require a merchant account, and they can mail small business owners a check periodically.

Business to Business Large organizations have been conducting online transactions for decades using EDI (Electronic Data Interchange). The Web Services is promised to offer advantages over EDI and open the doors for small to medium sized organizations to B2B transactions. B2B transactions can utilize online credit card processing and support PO (Purchase Order) as well.



Related Topics
Online Credit Card Processing - How It Works
Online Merchant Account - Basics, Costs and Alternatives