online trading account

Any business today cannot operate without accepting payments online. They not only receive payments online, but pay their expenses online. This saves a great deal of time for commercial establishments.

Let’s take a look at the online business account options available today.

PayPal

PayPal has become the most used online payment gateway. They offer two types of accounts. One is the buyer’s account and the other is the merchant’s account. The merchant account is what we are talking about. This account is intended to receive payments from customers directly by paying a small transaction fee amount to PayPal. The company has created an advanced and user-friendly API (Application Programming Interface) that can be easily implemented on any website.

Credit card (Master or Visa)

Almost all major banks offer credit cards to merchants. This card would be registered in the name of the company. With credit cards, shoppers can pay directly into a merchant’s account, either through Internet or telephone banking.

Getting credit card payments online may not be as simple a process as PayPal. Here one has to opt for third party payment gateways like 2CheckOut, Authorize dot net etc. They would charge for initial setup and provide merchants with an easy-to-use API. With this API, webmasters can integrate customer payment processing with the API. This would effectively direct payments to the merchant’s credit card numbers.

In addition to the two methods mentioned above, there may be other types of accounts where merchants can receive funds through bank transfer methods. However, before deciding on an account method and type, business owners should read the provider’s regulations and terms of service.