List of the best online payment alternatives for entrepreneurs.
March 12, 2012 in e-Commerce SolutionsThere are few segments more exciting right now than alternative payment systems. Earth's collective contempt for the entrenched payment tech industry is ardent. This industry has abused users, built regulatory walls to competition, made things insufferable for customers, and as a result, put payment processing options nearly out of reach, especially for bootstrappers. Overcoming these hurdles is a huge barrier to progress.
But the alternative payment world is red smoking hot right now, and I'm more excited about it than any other segment. The possibilities that are unlocked by this are exciting for entrepreneurs, especially bootstrappers.
No merchant accounts. No gateways. No exorbitant fees, or draconian setup processes.
Here are the most exciting ones:
2.9% + $0.30
Free for transactions under $10, $0.25 for over $10.
$0.50 for bank payment, 3.5% for credit card payment
The exciting ones for meatspace businesses.
Square
2.75% for swipes, 3.5% for keyed entries
iZettle
$0.20 + 2.75%
Intuit GoPayment
2.7% for swipes, 3.7% for keyed