Video instructions and help with filling out and completing What Form 2220 Payments

Instructions and Help about What Form 2220 Payments

Today I'm going to show you the only five ways to accept credit card payments on your website the options I share with you includes payment page links payment page builders e-commerce solutions and custom solutions alike so if you're brand new to putting payments on your website or you've never done before or you've already done it but you're not happy with the solution you currently have I'm going to talk to you about all of the options that are available to you there's obviously more than a handful of ways to make this happen so the solution that's right for you largely depends on the resources that are available to you to make the solution come to life so one of the biggest questions that I'm asked is very simply how how does it work do do I have to put payment pages directly on my website or can they be hosted by another company or is there a Pay Now button available and how do you make all these solutions tie together there's so many options out there so again I'm going to go over the five broad categories and then I am going to give you a bunch of resources in this video including three big questions to help you determine which solutions actually best for you and which one's right for you so be sure to stick around for the whole video because I'm going to give you resources throughout the video as well as a checklist at the end of the video that will help you determine which solution is best for you so here we go number five is the all-in-one processor hosted payment page so all in one processor is a company like stripe or PayPal and these are also known as payment service providers so they are definitely different than a merchant account processor or true merchant account provider in the sense that they have a processing solution available to you and you license their technology and use their platform so these options give you the ability to create an account for free PayPal and stripe or both free to use so that's a big benefit obviously to this this solution but you can log into your dashboard and create a Pay Now button or a buy with card button depending on which tool you're using or which service you're using and you can take that code and place it on your website through an HTML editor whether using Wix or Squarespace or my preference which is WordPress you put that code directly into your website editor and the Buy Now button appears so setup is simple to do you create the accounts for free and then you can log in directly to the dashboard and just start creating your Pay Now button so that's definitely the pro to this option which is an easy and quick setup one of the negatives to this is that if you create a Pay Now button with one of these solutions or one of these providers you are tied to using their merchant account solution with that payment button so if you create the button with stripe or PayPal you're also accepting the payment through those processing platforms so it can be a negative if you compare on just cost alone because a lot of merchant account providers are going to be a lesser cost sometimes 50 basis points to a full percentage point lower than what stripe or PayPal might charge so the cost for this option is really contingent on the amount of time it takes you to research the options and gain the knowledge that it's going to take to put those buttons into place and then work it into your own workflow number four is a true merchant account provider hosted payment page true merchant account providers are companies like card connect Chase Paymentech and first data and they're different than the payment service providers that we just talked about like PayPal or stripe so a hosted payment page is tied to a gateway and the best way to understand what a true merchant account gateway and hosted payment page is is that the Gateway is a software tool that encrypts data between your store your online store or your payment page and the merchant account processing company so when a customer goes to your website and makes a payment the data is sent through the Gateway which is appropriately named by the way over to the processing company and then sent back so it's an essential piece and a vital part of the transaction flow of an online credit card transaction so one of the nice things about the hosted payment page is that it's completely managed for you by the gateway service so that just means that you don't have to worry about storing cardholder data because it's all all hosted and managed and taken care of by the Gateway company that's part of the hosted payment page service so the hosted payment pages are set up with companies like card point nmi or authorized net and again all the security is taken care of and handled for you with this out of the box or off-the-shelf solution so here's a sample of a hosted payment page by card point and this is built in a wordpress website editor so I've constructed this page built it in the WordPress editor and installed the code that produces the Pay Now button and this is what it looks like so the way it works is when your customer clicks on this button it takes them away from your domain over to the gateway hosted payment page again which is on a different URL where the customer can enter their information so you don't need to customize anything it's an off-the-shelf solution and tool so you just use it as it is again the security liability with this option is