Who wants the liability of retaining customer banking information, maintaining it, and all those related merchant fees? Not I. Here’s a quick look at some payment system options.
Credit Cards
Stripe
It can easily be integrated into your website. No monthly fees, no retaining of client payment information, just 2.5% per transaction, and wait two days later for the money to appear into your checking account.
Square
This is the same concept as Stripe but typically used for face to face transactions. I’m not sure of the turnaround time but I’m sure it’s very similar.
Checks
Intuit Payment Network
This is perfect for recurring payments except the user authorizes the payment with one click of the button to withdraw funds from their checking. It’s similar to ACH through your bank but no monthly charges. It’s just 50 cents per transaction and the payment arrives in your account two days later. You can also embed a URL for the client to browser to submit payments. https://ipn.intuit.com/pay/NetworkAntics
Why not these guys?
- Dwolla – No one likes submitting their driver’s license for the application process.
- Amazon – They know too much about you already
- PayPal – Clunky, they haven’t evolved as much as the players around them
- Venmo – Owned by Paypal. It’s not really suited for business to business transactions.
- Bank ACH – Still the best way to automatically deduct funds from a client but this post is dedicated to offering new solutions against a stodgy old banking system.
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