Receiving payments on my website


#1

Hi. What is the best way to receive payments for products on my website (especially for a weebly website?) I am a small start up company.


#2

You probably have a couple of options. Have your purchasers pay by way of Bill Payment or Direct Credit to your nominated account. On your website advise what details you need in Particulars/Code/Reference to allow you to match up the payment to your sales. This is a low cost set up I would think. Then next option you could have would be to accept credit cards for your goods. This gives you an exposure to sell your services to overseas card holders, you can even have your transactions sold in the overseas currency, this gives you real time accept or declines, the world is your oyster. Best to talk to a specialist at the bank that should be able to guide you through the various options. I hope this has been of help.


#3

Hi Ali,

Definitely credit card. Paypal is also desirable. I run a medium sized e-commerce website, which includes direct credit as a payment option and it is extremely rare for anyone to select this. Credit card and Paypal is pretty much where it’s at for online sales. Direct credit is also limited to your clients in New Zealand as banks in most overseas countries will not open accounts for foreign companies, without the company first registering with the government of  that country and having local contacts, paying local taxes etc.

When deciding what card schemes to accept - Visa and Mastercard account for the vast majority of transactions. A small number will be via Amex (though it’s likely these card holders also have a Visa or Mcard) though the number of Amex sales is likely to be a higher % if you’re targetting higher income intividuals. A downside of Amex is it’s only available in NZ$ for NZ merchants at present, but if you are targetting NZ based buyers, this may work for you. Noone uses Diners so I wouldn’t bother with them.

I hope this helps. This is an area I am fairly well versed in so feel free to come back and ask any more specific questions and I will offer my opinion wher I can.
All the best for your new online venture.

Michael Hallager