The beauty of Internet Business is that you can actually earn while you are sleeping. You can accept payment even if you are not there.

Aspiring Internet Marketers are often intimidated by the thought of accepting payments on their website. A lot actually think that this is a complicated process that requires a big upfront payment. In the early days of the Internet, marketers didn't have much choice but to open a merchant account. Thankfully, these days you have a lot more choices and you can even start accepting payment instantly.

A merchant account allows you to accept credit card payments on your site. This is the account into which a Merchant Account Provider deposits payments into your business checking account from the transactions made online. To qualify for a merchant account, retailers must meet the bank's requirements.

To have a merchant account, you must contact your local bank and ask for the procedures and requirements. Each bank in each locality may have different requirements for acceptance.

A merchant account is recommended for web owners that process a great deal of business on the Web and prefer a more localized control of  their online transactions. Typically, there is a monthly minimum fee and small per-transaction fee.

If you have a good relationship with your bank, you can explore this option.

2. Once you have made your choice, apply to be a member. You will be required to fill in the usual information such as address, contacts, email, etc.

3. Once you are accepted, you will be given an html link which you would then paste on the html page of your site. Most third party processors will allow you to take the major credit cards and e-checks.

Some third party processors like Paypal offer instant activation. Others like Clickbank requires 2 to 3 days. A customer service officer corresponds with you to guide you with the set-up.

4. Once the link or banner generated by the html is clicked, the visitor will then be transported to your third party's secure server. Your buyer then enters his credit card number and other verification details.  Once approved, the buyer is then directed to your "Thank you" page.

A "Thank you" page is a page that you have to write yourself. This usually contains, well, a thank you for purchasing your product and the instructions on how you are going to deliver that product. If you are selling informational products, the thank you page can contain your download links for instant delivery.

Your third party processor will give you the receipts and other transaction details by email.  You will get your payment based on their payment schedule.

Here is a list of some third party processors.

1. www.paypal.com

2. www.worldpay.com

3. www.clickbank.com (only for digital products)

4. www.digibuy.com (only for digital products)

5. www.propay.com

6. www.verotel.com

7. www.ccnow.com

8. www.2checkout.com

Please check them out yourself as I have only dealt with Paypal and Clickbank. Paypal is incredibly easy to set up and required no upfront fee. People also recognize Paypal so it makes it easier for people to trust you.

To know more about Paypal, click here.

I use Clickbank to sell my ebooks (www.hellogoodlove.com) as they have a built-in affiliate program. They also have good, personalized service.

To know more about with Clickbank, click here.

Note that this is not an exhaustive list. There are other third party processors but these are the more prominent ones.

To continue, click here.