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There are a few ways to pay
for the products using your customers’ money and
none of your own. And all of these methods are
safe, fast and effective as well. But no matter
how you look at it, in the end it’s always the
customer who pays for the product, and not you,
the reseller.
Using PayPal to pay with your customers’
money
One of the most popular and easiest ways to pay
for products using your customers’ money is by
using PayPal to accept payments and to pay for
products as well.
PayPal (www.PayPal.com) is a global e-commerce
payment processing company which allows
businesses and individuals to accept payments
online and transfer money securely over the
Internet. |
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PayPal services allows businesses and
individuals to send money without sharing
financial information, with the option to pay
using their account balances, bank accounts, or
credit cards. And with over 100 million PayPal
users in 190 markets and 25 currencies around
the world, PayPal makes global commerce happen.
Furthermore, PayPal is more than just a payment
processor; they also offer complete merchant and
ecommerce solutions as well.
For example, PayPal offers a complete shopping
cart system which is free for PayPal users. And
you can use this shopping cart system to accept
payments securely on your website.
To utilize and implement PayPals’ shopping cart
system into your website simply login to your
PayPal account and select “Merchant Services”
from the top menu.
Then click on “Create payment buttons for your
website” and follow the step-by-step
instructions to create your “Buy now” or “Add to
cart” buttons.
PayPal will then automatically create the button
code for you. Then simply copy and paste the
button code onto your product page and you’re
done. That product page is now complete and has
a PayPal “Buy now” or “Add to cart” button in
place and ready to be used to accept orders
online.
When the customer is ready to buy the product
then they can proceed to “check out” by clicking
on the PayPal “Add to cart” button which leads
them to PayPals’ shopping cart system.
Then the customer will enter their credit card
information onto the shopping cart order form
and then complete the order online.
Those funds are then processed, transferred and
deposited into your PayPal account within
seconds. And now you can either transfer those
funds from your PayPal account into your bank
account or you can use those funds to purchase
the product from the distributor.
However, you still need to pay for those
products with a credit card for example. And
this is where PayPal comes in handy.
PayPal MasterCard Debit Card
PayPal offers a PayPal MasterCard debit card for
PayPal account holders which is backed by the
funds in your PayPal account. And you can use
your PayPal debit card to pay for the products
as well, (as long as there are funds available
in your PayPal account).
And once the customer orders the product with
their credit card then those funds are deposited
into your PayPal account and are available for
immediate use.
If the customer calls to order the product by
phone then you can simply click on the PayPal
“Add to cart” button on your product webpage and
enter the customers’ credit card, billing and
shipping information on the PayPal shopping cart
system. |
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Then you can use your PayPal
MasterCard debit card to access those funds and
thereby pay for the product with your customers’
money.
You can order the product from the distributors’
website or by phone with your PayPal MasterCard
debit card.
The distributor will then ship the product
directly to your customer for you.
Whatever money is left over in your PayPal
account from that sale is your profit.
So if you want to pay for products using your
customers’ money and none of your own then you
may want to open up a PayPal account and start
accepting payments through PayPal.
If you already have a PayPal account then you
can upgrade your account to a business account
from within the profile section of your PayPal
account.
If you don’t have a PayPal account then visit
www.PayPal.com and get signed up today.
Using the PayPal payment system and business
debit card is just one way to use your
customers’ money to pay for the products.
However, there are a few more methods and
possible solutions as well. |
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Free ground shipping
buys you time
If you offer free ground shipping on your
website and the customer takes you up on your
free shipping offer then you have plenty of time
to receive the customers’ funds into your own
bank account and then use those funds to order
the product from the distributor.
For example, after the customer orders and pays
for the product with their credit card, then you
will receive an order confirmation email which
confirms that the customers’ credit card has
been approved and authorized for the sale and
the funds are on their way to your bank account.
Those funds are then processed, transferred and
deposited into your own bank account within 48
hours or less, (when using a standard merchant
account).
However, since the customer is aware of the fact
that ground shipping can take up to a week or
more for their order to arrive then you have
enough time to receive their funds into your
bank account.
Then you can use your own bank account debit
card to purchase the product from the
distributor thereby using the customers’ money
and none of your own.
Receiving payment by check
If the customer pays for their order by check
then you can use their money to pay for the
product as soon as the check has cleared.
If the customer sends you a cashiers check, (and
many businesses will), then those types of
checks will clear right away allowing you to use
those funds to pay for the product as well.
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This is only
temporary
It’s also important to remember that this is
only temporary and that you only need to use
your customers’ money to pay for the products
until you have enough capital to purchase the
products with your own funds, (after the
customer has paid you of course).
This is only in the beginning. Eventually, as
your business grows, you’ll have enough capital
to where it no longer matters whether you use
your customers money or not and you can use your
own debit card or take advantage of the net term
offers from distributors.
As a new business with no credit references,
most distributors will offer you standard
payment terms such as credit card, C.O.D, wire
transfer, direct debit etc.
Then after 60 to 90 days of doing steady
business with distributors they can place you on
net terms or EFT, (electronic funds transfer).
But in the mean time, the products have to be
paid for. And by using any of the methods
mentioned above you can pay for the products
using your customers’ money, all of the time. |
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How to Collect Sales Tax for Internet Sales |
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Avoiding Credit Card Fraud |
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How to Ship International and Overseas |
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How You Get Paid Each and Every Day |
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