What payment system to connect to the site?

How many active payment systems wallets that you use do you have? Not many? So, you are most likely to be a consumer in the Internet, not a person engaged in doing business. If you have a large portfolio consisting of different accounts in different payment systems, it means you have not only diversified assets but also a large package of headache arising from the fact that each payment system has its own usage conditions, its policies and most importantly, sometimes not even verified rate of reliability. Perhaps many would like to waive this, but opening any business from an exchange office to the online store you should be aware that your clients may be people from all around the world and, as a consequence, their preferences of making payments for your products or services might also be different. So, should you connect to all the merchants of all the payment systems in the world? Indeed, many of them are not reliable, many have just appeared, or vice versa are already at their last breath. So, what payment systems must be connected to your site? Shall we try to clear this out?

You should first of all start from basics of marketing. First and foremost, of course, define your target audience. Who are they - your clients? Where will they be coming, from which search engine, which sites will you be directing a stream of traffic to your site?

If you are directing a large number of people from off-line environment (through outdoor advertisement or advertising sign on the store) to your site, keep in mind that it wouold be the easiest for these people to use payment systems in which it is most comfortable to put money. Given that most people do not know about the exchange points and points of input \ output means you can conclude that your site should involve the payment system that can recharge through the OSMP, Cyberplat, etc. terminals of payment. Once you have specified which payment systems your potential customers can top up their accounts, you will not only need to place the merchants on the website, but a detailed instructions for people, who do not have accounts in the payment systems and it is easier for them to go to the terminal and transfer the money for the goods to your account with a note about this product. This scheme is a primitive and simple, but unfortunately many forget about it while building their Internet business. However, in reality it is sometimes much easier for a consumer to pay for goods via the machine than purchasing it with home delivery service and paying courier fees, because the instant payment machines are everywhere.

If your main traffic is compiled of permanent Internet users, then it should be learned that they appreciate the opportunity provided by the seller to pay by electronic money, which saves both seller’s and consumer’s time. If you are doing business in Russia and the CIS, the range of payment systems in this area is very clear, meaning that your programmer should connect your site to merchants of such payment systems as:
WebMoney
Yandex Money
Perfect Money
RBK Money

This is a standard set of payment systems, which is best for your business today, if it is targeted at a Russian-speaking audience. And each card has its advantages in comparison with others. WebMoney is nowadays the most popular payment system with many points of recharging and withdrawal, with thousands of partners, and nearly ten million users.

Yandex money - this is an excellent addition to your package of payment systems, do not forget that Yandex still holds the first place among search engines in Russia. As a consequence, some portion of the audience trusts namely Yandex money. Moreover, many of your potential customers use this system to pay for services of Yandex, which means that the left overs on their accounts can be spent on items from your store. Input and output of money on the system is very simple.

Perfect Money - one of the systems of the new generation has become popular throughout the world due to its multifunctionality, and a large number of languages that the interface is translated to (16 languages). The system is also interesting in regards of its liberal attitude to customers, and the highest level of security. The system is popular in Russia. Input and output from the system is simple and available in many different ways. Perfect Money provides detailed installation instructions of the merchant on the site.

RBK Money - new, but already visible player in the market of payment systems. This is the first payment system, which works on the principle of PayPal, namely now users of Runet can also transfer funds from their credit cards to billing systems. It is very convenient because by connecting RBK Money merchant, you will attract not only the audience of that payment system, but all people who have plastic cards. The system is convenient to use, but some of its elements, it must be said, somewhat infringe the rights of users in favor of the security policy.

Installing merchant of these payment systems, try to comply with their demands at maximum. For example in WebMoney, Yandex Money and RBK Money, if you specify a lack of information about yourself or false personal information, your account can be easily blocked. Unlock may take a long time: from one week to several months. In the case of Perfect Money everything is much convenient and positive, the payment system, according to information in public sources, does not block the account and allows you to specify inaccurate personal data.

If your business is aimed at foreign audiences, the existing list can be somewhat corrected. Yandex Money and RBK Money can be removed, leaving the world’s famous WebMoney and Perfect Money. However, they a number of payment systems should be added, specifically:
PayPal
Liberty Reserve
MoneyBookers

World giant PayPal, as such, needs no description. This payment system is popular in all countries and all continents. However, when using it you need to know a number of nuances. The system does not allow to take the funds out of the system in Russia and CIS countries, for the reason that a great share of world carders, who renew money through the PayPal come from the region of post-Soviet area. PayPal is also very strict in the actions of their service on combating fraud. Your account might be easily blocked, the unlocking of which would require sending a number of papers and waiting three months before the problem is fully resolved. We have already written about the relationship between PayPal and Russia in the previous issue.

However, establishing a PayPal merchant on your site, you are expanding the potential audience of it by million times.

LibertyReserve payment system is also popular in many countries, however it also have certain shortcomings. First of all its owners have already been sued once for financial frauds, as western blogs and media states. Besides, LibertyReserve is often unavailable due to continuous DDoS attacks committed towards it. Moreover, there is blocking accounts policy being currently held at LibertyReserve. Nonetheless, it should be stated that the system is very popular, and although main users of the system are players of financial pyramids market, its turnover is impressive.

In regards to MoneyBookers, it should be said that the roots of the system are deeply connected to the gambling industry of Internet. However, during its long time existence, English payment system MoneyBookers has made a big step into non-gambling sphere of payment and nowadays it is a world wide known payment system with its offices in different countries and with its interesting solutions. Interface of MoneyBookers surprises with its multilanguality, offering operation in 12 languages.

Choosing a payment system make sure to remember a rule that each new payment system will add the number of users to your business that the chosen system has. However, it is not recommended to get involved into payment systems too much, as it will make it harder for your accountant to take the money out of different systems in the future. In choosing a payment systems take following conditions into account:
- popularity
- life time
- ease of entry and withdrawal of funds
- safety
- multilingual interface
- appearance and attractiveness of the image
- freedom in the management of account

Do not be afraid of connecting to new systems, as Internet is developing very dynamically, and what seems to be new and not very popular (according to your subjective point of view) today, tomorrow might well be very well know in the whole Internet.

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i like to exchange

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