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Friday, March 10, 2006

The ability to accept credit cards is a



The ability to accept credit cards is a crucial element of looking big online. Most internet purchases are made using credit cards, and buyers are wary of sites that don't at least offer the option of credit card payments. Like referring to your company as "me," not accepting credit cards practically screams "amateur!"

For the owner of a virtual corporation, being able to accept credit cards is a fairly simple process. Brick-and-mortar establishments have to invest in credit card scanning and transmission equipment and pay hefty usage fees to both the equipment companies and the credit card companies. Accepting credit cards online is relatively inexpensive: generally there are no upfront fees, and credit card companies take a small percentage of each purchase.

Cash is nice, checks are fine, but plastic makes the world go 'round.

HELPFUL HINT: When determining the pricing of your services or products for your virtual corporation, you can calculate the percentage you would pay for credit card purchases and increase your costs accordingly. This way, you don't end up losing money on credit card transactions. However, you should never charge more for credit card purchases than other forms-this practice is considered quite unprofessional, and won't score you points with consumers.

There are a number of proven, trusted companies you can use to accept credit card payments online:
* PayPal: The world's largest online payment system, PayPal allows you to make and receive payments from any of the millions of registered PayPal users. With PayPal, you can accept electronic checks, direct withdrawals and credit card payments with no monthly or upfront fees-they simply take a small percentage of each transaction, around 3 percent. Also, PayPal allows you to generate Order and Buy Now buttons for your web site that will automatically bill the purchase amount, creating hassle-free ordering for both you and your customers.
* CCNow: If you sell physical products, you can accept credit cards with CCNow. Like PayPal, there is no setup or monthly fee. Their transaction fee is 9 percent, and drops to 8 percent in November and December.
* Verza: A universal online credit card company that charges 4.9 to 6.9 percent plus 99 cents per transaction.
* ProPay: This is PayPal's newest competitor. There is a one-time setup fee of $35, but no additional monthly charges, and their transaction fees are on the low end.

What's that ringing in your ears? Phone services for virtual entrepreneurs

Every good corporation has a telephone number listed for customers to call with questions or problems. If people can't contact you by phone, or at least leave a message, they will hesitate to do business with you. There are several inexpensive telephone support solutions for virtual corporations; you should choose the one that works best for your business and office location or situation.
* Dedicated Business Line: This is the best solution if you anticipate a low call volume and plan to answer the phone yourself. A dedicated business line can be locked away in the office, so there is no chance of having calls answered inappropriately.
* Voicemail: Voicemail is generally provided by your telephone service company. There is no equipment to set up; you simply dial a code or a telephone number to check your messages. Voicemail is a good option for those who travel frequently, as you can check your messages from any phone. Also, most cell phones include voicemail options, and you can turn them off during peak home activity time and check your messages later.
* Answering service: Answering services are a bit on the expensive side, but if you expect a high volume of business-related calls at all hours of the day, you may want to consider investing in one. A professional answering service helps to give your virtual corporation that big-time image you're aiming for.
* Toll-Free Numbers: Big businesses provide a toll-free number for their customers to call. If it's within your budget, you should do the same. Toll-free service is available from any major phone company, usually for a monthly fee, or through an internet company, usually for a per-minute fee. The plan you choose will depend on your anticipated call volume.
* Answering Machine: Answering machines are the least desirable telephone systems for a virtual corporation. If you use an answering machine for your business, try to invest in a digital model rather than one that uses tapes, as taped messages fade in quality and often sound unprofessional.

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