By edith on 10-12-2008

Business owners definitely do not lack options to collect money online.  Here are are nine different ways we found which you may want to consider:

1) Paypal
Paypal allows anyone to pay in any way they prefer, including through credit cards, bank accounts, buyer credit or account balances, without sharing financial information.

Cost: Setup Fee: $0. Transaction Fee: Minimum 2.9% + $0.30 USD   Minimal collection: None

2) Google Checkout
Google Checkout allows anyone to pay in credit cards.

Cost: Setup Fee: $0. Transaction Fee: 2.0% and $0.20. However, if you’re an AdWords advertiser and you’ve linked your Google Checkout and AdWords accounts, you’ll be eligible for free transaction processing. Minimal collection: None

3) Amazon Checkout
Checkout by Amazon accept payments on your website—you simply add buttons (snippets of HTML code) to your website.

Cost: Setup Fee: $0. Transaction Fee: 2.9% + $0.30 for all transactions. Minimal collection: None

4) Bill Me Later
Bill Me Later lets users pay without using a credit card. At checkout, provide your birthday and the last four digits of your social security number and your purchase is complete.

Cost: Unknown Minimal collection: Unknown

5) Prosper
Prosper is a people-to-people lending marketplace. Instead of listing and bidding on items, people list and bid on loans using Prosper’s online auction platform.

Cost: Setup Fee: $0. Transaction Fee: For Borrower, 2-3% closing fee or $75, whichever is greater. Minimal Amount: None

6) Fundable
Fundable.com lets groups of people pool funds to make purchases or raise money. Each project has a description of how much money needs to be collected and what it will do. Once enough pledges (not payments) have been collected, Fundable turns them into real payments and sends the total to the project’s organizer.

Cost: Setup Fee: $0. Transaction Fee: 10% fee taken from their totals Minimal Amount: $100

7) Chipin
ChipIn allows anyone to collect money for a personal cause, group purchase, or fundraiser using their own custom ChipIn page.

Cost: Setup Fee: $0. Transaction Fee: ChipIn does not charge any fees to organizers and contributors of events that send payments directly to the Organizer’s PayPal account. However, PayPal Premier or Business accounts may be subject to fees from PayPal. Minimal Amount: $0

About edith

Edith Yeung is the Founder of BizTechDay and SFentrepreneur. She is also a lecturer at UC Berkeley International Program and committee member of the San Francisco Small Business Week. She has previously worked with AT&T Wireless, Oracle, Siebel, Autodesk, Cisco Systems, Symantec, American Management Systems (AMS), Telstra Australia, Matav Hungary Telecom and Taiwan Semi-Conductor.

4 Responses to “Seven Ways to Collect Money Online for Small Businesses”

1. Krie Says:
   March 22nd, 2009 at 1:35 pm

   Does anyone else have any experience with this?

2. paul Says:
   August 7th, 2009 at 3:33 pm

   I recently came across this blog, and I really like it.

3. YourNetBiz Scam Says:
   March 16th, 2010 at 10:01 am

   I want to thank the blogger very much not only for this articles but also for his all previous efforts. I found http://www.biztechday.com/seve-ways-to-collect-money-online/ to be greatly interesting. I will be coming back for more informations . Have a fantastic day!

4. chicken curry recipe Says:
   November 14th, 2010 at 4:04 pm

   As a blog reader, I am readily on the lookout for information that are both awesome and pleasing to read and I must say your blog passed with high honors. Many thanks for the enlightening content you have created! Will be coming back soon!

Leave a Reply