Suggest best way to process payments?
We are from NJ. Our start up consists of 2 people. Previously, all of our clients were through our contacts, so we just accepted cheques for payment and deposited them in our Bank of America small business account.
We recently got two big projects from Canada. So what would be the best way for processing payments?
1 Answer
Most of our clients out of the country pay by wire transfer.
Depending on their size they may or may not be familiar with this but it's not too bad of a process. They need some information about your bank, some routing numbers etc. and they can then wire money to you.
Depending on your invoice amounts, if they are lower and don't mind paying the ~2.5% - 3.0% you could accept credit cards. You could do this through PayPal Pro, stripe.com, square, or go a more traditional route and get a merchant / payment gateway from your local bank. Like using Authorize .Net.
I would recommend having a convenient way to process credit cards even id you don't do it for this client.
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We have two types of payment, a big amount payment and monthly small payments. I think we will go with wire for the bulk (big) payment and stripe.com looks pretty impressive, so we might go with that for monthly payments. Thank you very much! – Varchar1 13 years ago
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Yeah stripe is pretty awesome! We schedule our monthly items through that for our web apps and we use Freshbooks.com for invoicing so I use that for recurring invoicing as well. – Ryan Doom 13 years ago
