Blogging can transform a hobby into a business. There are payment methods bloggers use to get paid. These methods are essential to profit from your business model. A payment method is a way in which a merchant collects payments from customers. It’s ideal for a company to have several payment methods since some clients prefer one way over others.
In this case, where businesses are conducted online, cash is out of the question. The idea is to make it easy for the customer to do a transaction with you. Although you may have your preferred method, you should have more than one choice at your fingertips. I will mention some of the most popular options next:
1. PayPal
As an online payment platform, it offers businesses and individuals low-cost services. It’s a way of selling, buying, and sending money without sharing financial data. Although there are many services, PayPal has over 286 million active users. This is an astonishing number by itself, but you should add that up to 87.5% of online clients have a PayPal account and use it often.
Why is it so popular? The company believes, at its core, that you should simply get your money. You can:
- Split expenses
- Shop
- Get paid for sales
Opening an account is easy. You can transfer money worldwide with someone with a PayPal account. Who are you sending money to? The answer is just a search away.
2. Skrill
Many bloggers provide services on the side. One way to get paid is through Skrill, an online wallet for payments and money transfers. I have personally used this service. I did some work on an online freelancing site. Skrill made the transfer to my local bank without a hiccup when it was time to cash in my money.
Many individuals are concerned about their privacy and the reputation of the companies they trust their money with. Skrill has been in business since 2001. You can log in to your account and check every transaction you’ve made or use the mobile app. This way, you can access your money and move your account balance no matter where you are or when. You will also have access to the Knect program, where your transactions will earn points you can exchange down the road.
3. Bank transfer
Paying in cash can be a good choice occasionally, but there are safer ways to handle your money, and a bank transfer is one of them. A bank transfer happens when you send your money from one bank to another.
A benefit is that it’s practically free. This is important when you want to save costs or when the amount you’re transferring isn’t a large one. Security is another matter. When shopping online, using a bank transfer is not advisable because your money is largely unprotected. You’re not covered by the same benefits you’d have if you were using PayPal or a credit card.
It’s recommended when there is trust between buyer and seller. This is the case if you have a healthy relationship with a business or individual who pays you for your work.
4. Check
A check is a dated, written, and signed piece of paper that indicates a bank should pay a specific amount of money to the bearer. You can deposit or cash a check. Where does the money come from? From the payor’s bank account.
Many business people choose this method as one of their preferred methods when making payments. It’s certainly much more convenient than carrying cash around. If you’re paying with a check, a secondary benefit is that you can stop payment if you deem it necessary.
A basic benefit of the check is that it lets you make a monetary transaction without the need to exchange physical currency. I mention this method since some customers may contact you to know if they can pay for your services using checks. Although it’s not common, it is possible, and you should have an answer available if such a request is made.
5. Payoneer
Payoneer is an option for professionals, business owners, and freelancers. It offers many opportunities to get paid online by global companies and international clients. The web makes international markets available to you immediately. This means you must upgrade your payment methods. With a wide array of funding and payment solutions, Payoneer is a trusted leader in the field.
A few years ago, I received their prepaid MasterCard, where I could withdraw my money from PayPal and other companies as quickly as having a local bank account. So if you’ve been searching for a solution to get paid as a supplier, search no more; this company lets you do it in style. The same applies if you want to pay providers.
Payoneer was founded in 2005. It has many years of doing business, and it’s the preferred choice for getting paid by countless product creators, affiliates, and professional service providers worldwide.
6. Debit and credit cards
Finally, credit and debit cards are the favorite payment methods of millions of individuals on the world wide web. A credit card is a thin piece of plastic provided by financial institutions that lets you borrow money from a previously approved limit so you can pay for your purchases.
A debit card is similar, with the difference it deducts financial resources directly from a client’s saving account to pay for purchases. You’ll find that credit card processing is a must for most online businesses. A customer can easily buy products without spending much time by entering a few basic details and with some mouse clicks along with the details of their credit or debit card.
Online transactions are secure, especially when dealing with major retailers. Credit cards usually have fraud protection. You can benefit from them as a business owner or customer.
Conclusion
Payment methods bloggers use to get paid are many. With them, you can reach local and global audiences. In addition, since the internet is now an established means of conducting business, you will find reduced costs for monetary transactions with payment security included.
You will be offering your customer their preferred way to pay you. If you have an online business, this means an optimized customer journey. In addition, with payment method acceptance, you will ensure more distribution and marketing channels available to sell and promote your products and services.
With some of these payment methods, you will also benefit from recurring payment capabilities, including impulse buyers to people searching for your offers.
