Heyo! Welcome to the $100 MBA show where we give you that shot in the arm of business building goodness every single day with our daily 10 minute business lessons for the real world.

I'm your host, your coach, your teacher Omar Zenholm.

I'm also the co-founder of the $100 MBA, a complete business training and community online.

And today you will learn how to choose the right payment processor for your website.

There are so many choices out there,

but you need to make sure you choose the right one for your business.

Today we're going to go over the options we recommend

for collecting payments, giving you the advantages to

disadvantages so you can choose the right one for you. Time is money guys so

let's get down to business.

All right let me frame this conversation and this lesson, so you know what I'm talking about when I say your payment processor.

Now when you're setting up a website and you're going to be collecting payments on your

website that could be for anything it could be for a physical good it could be for an

ebook it could be for a membership site whatever it is you're going to need to

collect payment got to be a way to be able to charge somebody's credit card.

And you need to be able to take that money from their credit card

and obviously get deposited in your bank account

at some point in that process.

Back in the day, you would have to actually open something

called a merchant account and an actual bank,

and there was a lot of paperwork and approvals,

and they would have to charge you a whole bunch of money.

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