Most websites, whether you’re setting up your own or selling products through an online marketplace, will use an outside website to handle transactions. The primary reason for this is security. The secondary reason is that it’s much simpler to let people who know how to handle transactions to do their job! PayPal is one of the most widely used payment platforms and adding a PayPal button to a website is a relatively easy process.In a February 25 article in the New York Times, Riva Richmond reported last week that Internet fraud declined 10% in 2010. According to her article, Internet users are more aware than ever about fraud that may exist online. It’s even more important that you as a business person are aware of security issues surrounding online transactions.
Richmond also reported that “financial institutions and payment processors have gotten more aggressive in their use of antifraud technologies.” This is good news for online business owners who rely on these secure services to guarantee safe transactions for their customers.
There are countless online payment systems in existence, but one of the most well known is PayPal. On February 10, the New York Times published an article about a successful partnership PayPal has made with Ebay which has helped PayPal become widely used by small and large businesses alike. PayPal is especially attractive because it accepts all major credit cards and doesn’t charge any setup or monthly fees.How PayPal works is quite simple; from my experience, these are the basic steps involved in a PayPal transaction:
1. Customers select the items they wish to buy on the seller’s website and click the checkout button
2. Customers are prompted to sign in to PayPal or to enter their payment information if they do not have a PayPal account
3. PayPal makes the transaction without either party having access to the other’s financial information
4. Both the customer and the buyer receive receipts from the transaction
If you are selling products through an online marketplace, they will probably provide you with a payment system to use; it could be PayPal or any one of the numerous other online payment systems that function in a similar manner.
If you are hosting your own website, adding a PayPal button to your page is simple. PayPal walks you through a form where you can enter information such as the type of button you need, your payment preferences, product cost, and other special feature. After you submit the form, PayPal generates the HTML for you to copy and paste into your own webpage’s code. That’s all there is to it!
Check out this video to learn more about setting up PayPal for your website, as well as the additional features that PayPal offers.
Multimedia Sources:
Secure HTTPS Image: Making Payments Online
Paypal Image: Business Pundit
PayPal Video: YouTube
I really liked this blog. From the background, to the writing to the use of multi-media. It was excellent and very professional.
ReplyDeleteThe quality of your sources are great, and the fact that you set up a link to the article was superb.
I loved your writing because it was easy to read. With this topic, you could've lost me if you tried to get too technical and you didn't.
Another idea for a possible blog is the history of shopping online. How it came about and how it has changed the internet and the way companies do business.