Payment Processors & Affiliate Networks

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Payment Processors & Affiliate Networks
Now we’re getting to the part where you make money rather than spending it! If you are selling anything online then you need someone to process payments for you, once you have a big enough business then you can have your own merchant account through a bank to process payments, but in the meantime you need someone to do it for you.

A payment processor is just that, they process the payment for you and pay you, in return they take a cut of every transaction. It is a great setup as you don’t need to worry about anything but keeping your refunds low and getting people to your site! (if you have a high refund rate you may get into trouble as your product is low quality or your offer does not match the product you are selling).

There are certain products like gambling or mlm schemes or get-rich-quick schemes etc which the processors will not take, but most other things should be ok. To sign up typically you just fill out your details to apply and they review your details and give you a decision in a few days.

Here are some popular payment processors you can choose from:

www.clickbank.com (digital goods only)
www.paydotcom.com
www.2checkout.com
www.nochex.com
www.paypal.com

I think Clickbank deserves a particular mention, if you product is digital, like a digital book, a subscription to a website etc, then they will happily process payments for you, but they can also help you to sell more! They have a built in marketplace where anybody with a Clickbank account can become an affiliate and help you to sell your product. That means if you have a salesletter that converts well you could get some of the top affiliates driving traffic to your site and you only pay them when it results in a sale!

Now onto affiliate networks, these are networks like Clickbank that pay you every time you refer someone to a site that buys a product. Typically you get between 5 – 10% of the sale, but at places like Clickbank where there is no physical inventory for the merchant to store then you can get as high as 75% of the sale!

All of the sales are tracked by the network, you are given special links and you get people to click through those links to go to the site, the sale is then tracked to your account ID and you are allocated a part of the sale automatically.

Here is a list of affiliate networks to get you started:

www.cj.com
www.clickbank.com
www.linkshare.com
www.affiliatewindow.com
www.shareasale.com
www.linkconnector.com
www.google.com/ads/affiliatenetwork/index.html
www.pepperjamnetwork.com
www.click2sell.eu

Some networks have strict rules about how much traffic you need to be getting before you apply and what websites you can advertise with etc, but others just automatically let you in. Go through and apply to about 10 and you should be accepted by a good number to allow you to get going.

Payment Processors & Affiliate Networks

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