Alternatives to PayPal

One of my students asked me "I've been using PayPal for my internet business and I feel they are a bit expensive, is there another service you suggest using instead?"

If you are using Paypal shame on you! Even though they process everything for you, I hate to PayPal to run any internet business. PayPal is good for running an eBay business for which it was originally created, but for an internet business they are not only expensive but seriously lacking.

The service that I recommend instead is PowerPay. Now, you need a few things in place in order to use this service, but once you have them set up it is a seamless solution. If you go to www.powerfulpromoter.com/onlinepayments.htm, I outline everything in detail there.

First, to transfer money online to your bank account, you need a shopping cart. A shopping cart makes the order forms, keeps up with the orders, and takes the payment information.

Second, you're also going to need to get a merchant account. I use is PowerPay.biz . However, just because you have a merchant account does not mean you can receive payments online.

Now, even though you have a shopping cart and a merchant account setup it still doesn't mean it's going to work together. So, you need one more thing called an internet gateway. The internet gateway that I use is Authorize.net.

That's how everything gets connected together. Basically, like I said, the shopping cart makes the order forms, keeps up the orders and takes the payment information. Then the internet gateway receives that information, runs the cards for you and then your merchant account receives the payments, pays you and puts the money into your bank account.

So, you really need four things. You're going to need the shopping cart (I use KickStartCart). You need Authorize.net, which is an internet gateway. You need a merchant account, and the merchant account I use is PowerPay. The fourth thing you will need is the bank account. I hope you've got one of those because that's directly where they're going to deposit the money.

If you need to set something like this up and get all the fees waived for your merchant account, then go to powerfulpromoter.com/onlinepayments.htm and you can basically get a free merchant account and a free internet gateway set up fairly quickly. If you are having some credit issues or something you're afraid will prevent you from getting an account, email me at mbacak@gmail.com.

Just tell me what your issue or problem is and I'll make a phone call to Judd Smith. Together, we will help you out and make that happen. They can just take it out of underwriting and get you approved a lot quicker. I've had somebody with seven foreclosures on their account and I was able to get them an account. Welcome to the good ol' boy's network. It's who I use, as well as other internet marketers like Jim Edwards, Armand Morin and others. Basically, any name out there on the internet that you've ever heard of, we're all using them. So I'd highly urge you to go and to make things happen from there.

Warmest regards,

Matt Bacak

P.S. If you haven't signed up for my
Powerful Promoting Tips yet, then you
are really missing out, go here:

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P.P.S. Do you want to be updated on the new things I'm doing
to market my companies? Then you need to grab a copy of my
..Internet Marketing Dirt'. It's now better than ever before!

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How to Structure a JV Deal

The way to structure a joint venture (JV) deal is fairly simple. First of all, if it’s just a JV opportunity like you’re holding a tele-seminar together and agree to split the profits, then really what you want to do is have one person handle the money and then divvy it out through an account that you both have access to. That’s probably the way that I would do it. However in the planning stages get something in writing. You could have verbal emails going back and forth, just stating how everything’s going to work, so that just in case your joint venture doesn’t work out (not saying that it won’t), but you need to protect yourself and have proof of your agreement in writing.

Basically, if I’m planning on having a long-term business relationship with my JV partner I create a corporation with that individual. It may sound extreme but it’s not. This is what I do when I plan on making several deals with this person over a fairly long period of time.

What I do is we open a corporate bank account together. All the money from the merchant account goes into that bank account and then it gets divvied up from there. This is a good this to do because we have the corporation stating who owns what, so that way we make sure that everything’s getting taken care of properly and equally.

Now if you were going to do it what happens is whenever anybody purchases from you, your merchant account will send an email to both you and your JV partner at the same time to let you know that you’ve both got orders. Merchant accounts are excellent at tracking this type of information which makes it fairly simple when doing partnerships like these. However, it also can be taken care of at the shopping cart level. If you share access to a shopping cart, this can also track orders and notify you both of sales. So that’s another option as well.

But one major point I want to make very clear is to make sure that one thing you do when you are splitting the money is that you are taking out the merchant account fees. It will cost you about 3% on the way in for each transaction and 3% on the way out. So, if you have any refunds or anything like that, you want to make sure you take out that money on the way in and the same goes for the money on the way out. It’s really important for you to do that.

Either way,having a system to track orders is the best way to ensure a smooth business partnership where you can easily track what’s going on. This is the best way to keep a tab on your business.

Warmest regards,

Matt Bacak

P.S. If you haven't signed up for myPowerful Promoting Tips yet, then youare really missing out, go here:

http://www.promotingtips.com/

P.P.S. Do you want to be updated on the new things I'm doingto market my companies? Then you need to grab a copy of my`Internet Marketing Dirt'. It's now better than ever before!

Go here and get a copy: http://www.internetmarketingdirt.com/

“How to take Online Payments”

The goal is make money online with no work and have cash appear in your bank account. Right? So how do you get this online money into your bank account? Many people don’t really know how this works. We’re going to explain exactly how it works so you can set it up for your business.

You need to have the following:
1. A bank account. That is where your money will be deposited.
2. A merchant account.
3. A shopping cart. The purpose of the shopping cart is to make the order forms and keep up with the orders. It gives the orders to the Internet gateway and runs the credit cards. Then the shopping cart goes to the merchant account and pays you.
A great shopping cart program is Kickstart Cart.

The internet gateway to use is Authorize.net. This makes the shopping cart talk to your merchant account.

Let’s look more at the merchant account. Be careful about which program you choose because most of them are really bad. It is important to know that merchant accounts ONLY deal with Visa and MasterCard. If you want to accept American Express and Discover then you have to go to each credit card company directly.

Why can’t I just get a merchant account through my bank? The answer is that banks view online payments as high risk.

Why is it important to pick the best merchant account company? Read about my experiences with merchant account companies to show you why. I have 5-7 merchant accounts. The first merchant account I had cost $1,000 to set up and I am stuck in a 5 year contract with them. Plus, if you earn a lot more than you expect, it can be frozen by the merchant account. The merchant account companies are not designed to protect you; they are designed to protect themselves. So if you earn more in the first week than you expected for a year then they view you as a potential fraud. So they can freeze your money while they investigate or for a period of 6 months.

The second merchant account I got was like filling out a mortgage application. I felt like I was signing my life away. They held 50% of my money for 6 months which was terrible.

The third merchant account I went to charged me 15% for Internet transactions. They also held another 10% each month and said they would give it back to me after 6 months. I have not seen that money yet.

The fourth merchant account I went with put a hold on my account and has $40,000 worth of my money because I maxed out my limit and they think that I was fraudulent, but I’m not.

So I was looking for a merchant account that accepts a huge amount of orders and has an unlimited amount of money that can be run through it. I found a merchant account that fit this bill. What is this special merchant account that I love? It is Powerpay.

****NOT Sure if this should be in the article.*****
I’ve made a deal with the Powerpay people that will let you get Authorize.net and a merchant account for free. You can get them for free as long as you don’t have any bank problems or fraud. If you have any concerns contact me directly.

Plus, they will setup American Express and Discover for you. You don’t have to call these credit card companies.

www.powerfulpromoter.com/onlinepayments.html

Warmest regards,

Matt Bacak

P.S. If you haven't signed up for my
Powerful Promoting Tips yet, then you
are really missing out, go here:

http://www.promotingtips.com

P.P.S. Do you want to be updated on the new things I'm doing
to market my companies? Then you need to grab a copy of my
`Internet Marketing Dirt'. It's now better than ever before!

Go here and get a copy: www.internetmarketingdirt.com